Norwest. Vacancy rate increases slightly

Vacancy within the Norwest office market increased slightly over the second half of 2009, from 10 per cent in July 2009 to 11 per cent in January 2010, according to the latest Colliers Sydney Metropolitan Office Research & Forecast Report. This increase occurred due to the completion of the new Norwest C3 development, which increased supply while at the same time tenant demand and enquiry remained stable. The largest deal to be completed in the Norwest market, over the past six months, was at the new Atlas development with Virgin Active Gymnasium committing to 4000 square metres.