Parramatta. Strong demand for office space

The depth of demand for office space in Parramatta from both corporate and government tenants is strong and this needs to be satisfied in the short-term to ensure they are not lost to other suburban markets, according to Knight Frank’s latest Parramatta Office Market Overview. With A-grade space at negligible levels [2.4 per cent] and current enquiry for prime grade space up to 15,000 square metres, the real threat to the market will be the ability to continue to attract government tenants, which represent around 40 per cent of all existing enquiry, in particular the smaller departments that can’t underpin new development, the report said.