Wednesday, 25 May 2011

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.


Auburn. Final stage completed

Brookfield Multiplex has completed the final stage of the four-year redevelopment of Auburn Hospital two months ahead of schedule. The $145 million project involved the demolition of the old hospital and the construction of a five-story new one, including 184 in-patient beds and a broad range of surgical, diagnostic and ambulatory services.