Parramatta CBD poised to lead Sydney office market recovery
The COVID-19 pandemic has had a lasting impact on office markets throughout Australia, but a major commercial suburb in Sydney’s west looks poised to lead the way in the post-pandemic economy.
The pandemic-induced lockdowns have instigated a rapid increase in office vacancies as businesses altered their space requirements to abide by safety regulations.
However, despite this general trend, figures suggest the Parramatta office market has in fact thrived.
As of March 2021, Parramatta’s office vacancy rate sits at 6.38 per cent, with a total of 809,526 sqm of office stock.