Parramatta office market in hot demand
The Salvation Army is selling its Parramatta site to take advantage of the strong office market, where premium grade vacancy rates are close to 1 per cent, the lowest in the country.
Parramatta is undergoing one of the biggest urban renewal programs in its history, with the Civic Square alone costing about $2 billion. There are three new hotels and Scentre Group has lodged a proposal with the local council for an 80,000-square-metre office tower above its Westfield Parramatta shopping centre.
Walker Corporation and DEXUS Property are also investing in the area, which has a range of tenants from education to government and the private sector.
To read more, please click on the link provided: The Sydney Morning Herald, 7 September 2016