Friday, 3 August 2012

Region. Low socio-economic project

The federal government’s $21 million Bridges to Higher Education project is designed to reach over 100,000 school students and boost the participation rates in higher education from low socio-economic status communities. The project is a unique collaboration bringing together the collective resources and experience of the widening participation, equity and social inclusion programs at the University of Western Sydney, The University of Sydney, the University of Technology, Sydney, Macquarie University, and the Australian Catholic University.


Parramatta. 60 government departments

Parramatta has benefited from significant relocation activity by federal and state governments and has more government, as a percentage, of occupancy then any other region or capital city in Austraalia, including Canberra. Over 60 government departments are located in the Parramatta CBD occupying an estimated 42 per cent of total office floorspace.


Parramatta. Office market 'tight'

Conditions remain tight at the top end of the Parramatta office market, according to the Property Council of Australia’s latest Office Market report. “Some marginal shifts did little to change the fundamental story surrounding the office market in Parramatta,” says Property Council NSW Executive Director Glenn Byres. The vacancy rate in Parramatta decreased from 9.1 per cent to 8.7 per cent in the six months to July 2012, the lowest level in four years. Net demand for A Grade space was -358 square metres and pushed the vacancy rate up from 2.1 to 2.2 per cent. B Grade also saw a weakening in demand, with net absorption of –850 square metres and the vacancy rate rising from 4.5 per cent to 5.0 per cent. C Grade saw the strongest growth in demand, with net absorption totalling 3879 square metres and the vacancy rate dropping from 18.8 per cent to 16.2 per cent. D Grade vacancy fell from 15.3 per cent to 15.1 per cent over the period on the back of net absorption of 54 square metres and withdrawals of 487 square metres. Mr Byres said 25,050 square metres of space is scheduled to enter the Parramatta market in the second half of 2012 but no new space is scheduled for 2013.