North Ryde. Growth in leasing demand

Led by a return to growth in leasing demand coupled with relatively benign supply, vacancy rates are tightening, particularly for prime grade stock in North Ryde/Macquarie Park; incentives have begun to moderate in the area, according to Knight Frank’s Office Market Overview. The total supply is 807,957 square metres, with the average net face rent at $287 per square metre. Prime space totals 552,348 square metres, with rent at $298 per square metre. Total vacancy is 10.3 per cent and that for prime space, 9.9 per cent.