North Ryde. Slight drop in offcie vacancies

North Ryde office space – which is bigger than in Parramatta – has remained constant, with a slight drop in vacancies, from 12.3 per cent to 12.2 per cent, in the six months to January 2010, according to the Property Council of Australia’s latest Office Market Report. “North Ryde has enjoyed phenomenal growth in recent years. It is now the ninth biggest office market in the country. There were no additions to supply in the past six months, but 28,700 square metres is due to come online in 2010," he said.

Parramatta. Office vacancies rise

“The Parramatta CBD is a tale of two cities: solid demand for quality office space and negative demand for lower grade stock,” said NSW acting executive director, Glenn Byres, in the Property Council’s latest Office Market Report. Vacancy rates have risen in the six months to January 2010, from 9.6 percent to 9.8 percent. Vacancies topped 10 percent this time last year. “Vacancies in A Grade stock remain very tight at just 2.4 percent – consistent with the result from six months ago and continuing a strong trend in recent years. A big concern is the spike in vacancy rates for C Grade buildings, which are primarily home to small businesses," Mr Byres said. He said 2967 square metres of new space is due to enter the market in 2010, with no further supply scheduled after that. Parramatta is behind North Ryde in the amount of office space.

Parramatta. Showroom sold for $9.8 million

The winner of the Sydney to Hobart, Neville Crichton, has purchased the former Marshalls Motors Mercedes-Benz showroom, on the corner of Church and Meeham streets, for $9.8 million. The 6100-square-metre site includes the showroom, office space and parking for 70 cars. Marshalls Motors has moved to purpose-built premises on the adjacent corner.

Ingleburn. Property sold for $6.6 million

An owner-occupier has bought a 20,000-square-metre plus property, in Benson Road, in the Ingleburn industrial estate, for $6.6 million, which includes over 6000 square metres of building area and about 10,000 square metres of hardstand area.