Parramatta. Buyers' market

Parramatta has emerged as a buyer's market to rival North Sydney for office towers with development keenly sought after on solid yields and high, long-term occupancy potential, according to The Sydney Morning Herald. The area is a strong enclave for the public service with federal and NSW government departments moving to the Parramatta CBDF in the past few years. This has led to the CBD having a number of highly rated green star properties as the public service must lease sites with four or more green stars under the two governments' sustainability programs. ''While some developers and investors are focused on the core CBD markets in Sydney, Melbourne and Brisbane, the 'smart money' is now looking at the major suburban markets, making Parramatta an ideal opportunity,'' said John Macree, from Jones Lang LaSalle.