Parramatta. Preferred place for business

Information released by the Property Council of Australia showing Parramatta had the biggest growth in demand for office space was further evidence that the capital of Western Sydney continued to be the new preferred destination for business, said Mike Thomas, Parramatta City Council’s manager, economic development. He was commenting on the report that the Parramatta CBD had the biggest growth in demand for office space in the country. Office vacancies fell from 10.1 per cent to 9.6 per cent in the six months to July 2009. The vacancy rate for A-grade space fell from 3.1 percent to 2.4 percent

Parramatta. Office vacancies marginally lower

The total vacancy factor for all useable office space in the Parramatta CBD was 7.3 per cent in July 2009, 0.9 percentage points lower than the level recorded in July 2007. The fall in vacancy rates was despite a considerable increase in the total office stock over the previous 12 months, according to council's quarterly Biz Facts publication. Vacancy rates in Parramatta were lower than other major areas of Sydney, for example, the North Shore 8.6 per cent, North Ryde 8.7 per cent and Chatswood 12.8 per cent