This event asked the question “Where to from here?” following an unprecedented wave of investment in new office stock in Parramatta over the past five years.
Three years ago, Parramatta had one of the tightest office markets in the country, with a two per cent vacancy rate and new towers under construction to respond to the growing demand.
The completion of Parramatta Square, 32 Smith Street and 6 Hassall have met that demand, and today’s vacancy rate means the market now has plenty of opportunity to take on additional tenancies. With a vacancy rate at 18 per cent we were assured that the fundamentals of Parramatta, a city located at the heart of a booming population catchment, remain to be strong.
We were pleased to hear Ben Lalic present JLL’s latest insights on the office market and his expectations for the future. Thank you also to Stace Fishwick for providing the perspective of one of Parramatta’s largest tenants (NSW Government) and Carmel Hourigan, Office CEO at Charter Hall for sharing her thoughts on what drives decisions and confidence from global capital – a great panel conversation capably moderated by Sarah Kay of Woods Bagot.
Parramatta’s new Lord Mayor Sameer Pandey took time out of his schedule to update us on his vision for the city and we welcome this willingness to engage with industry leaders to continue to promote investment and growth into the future.
Western Sydney Series Partner: nbn Australia
Event Partner: Charter Hall
