Friday, 16 December 2011

Parramatta. Office space additions

Annual additions to office space in the Parramatta CBD have been relatively low over the past five years averaging 19,255 square metres per annum, according to the CBRE MarketView, Sydney Metropolitan Office market, third term 2011.

This is likely to increase as approximately 75,000 square metres of new office space supply are anticipated to be completed from 2012-2015.

One of these developments is the 25,000-square-metre, Eclipse, which is currently under construction, at 60 Station Street, after securing 70 per cent in tenant pre-commitment and due for completion in mid-2012.

Over the three quarters to September 2011, gross face indicative rents for grade A properties increased by 2.8 per cent to reach $450 per square metre.

This was within a range of $413 per square metre to $543 per square metre and forecast to grow by an average of 3.4 per cent per annum from 2011-2015, the CBRE report said.

It is predicted between 2011 and 2015, total vacancy rate in Parramatta will average 7.3 per cent with 2014 likely to see a vacancy peak at 8.3 per cent and fall again in 2015.


Region. Only one in the region

The Western Sydney Business Connection, which established the Asia Business Connection (ABC) in 1992. The ABC is the only organisation in the Greater West that is solely dedicated to the development and growth of business in the Asia Pacific region.ABC's primary objective is to increase awareness in the Asia/Pacific region of the business opportunities in Greater Western Sydney.

This is achieved by connecting people, places and business from throughout Western Sydney with business people from the Asia/Pacific region. In addition, ABC encourages and welcomes visitors to our region and co-ordinates events.

It is an independent, non-profit organisation, which not only reaches broadly into the Asian-Australian business community but brings important executives, academics, media and government officials from the Asian region into the Greater West.

The ABC will celebrate 2012 Chinese New Year, on February 2, at the Parramatta Parkroyal.


Region. UWS and footy team collaborate

The University of Western Sydney and the Australian Football League’s Greater Western Sydney GIANTS have developed a partnership to work together on a wide range of initiatives across the areas of education, health and community.

These include: Providing long-term career development and educational pathways for GWS GIANTS players to take further studies, whether at TAFE or university; providing professional development and leadership opportunities and internships for UWS students, particularly those in business, sports science, or sports management disciplines; working together on UWS research, and opportunities for UWS health and sports science students to work with elite and sub-elite athletes; and collaborating on educational and community-focused projects, such as a joint initiative to establish a Learning and Life Centre, and sporting infrastructure within Greater Western Sydney.

Parramatta. Free bus services

Parramatta City Council’s CEO, Dr Robert Lang, will commence negotiations to secure the long-term financial support of the NSW government for the provision of the Parramatta Free Shuttle Bus Service. Council will consider the possible extension of the shuttle service to the university campus at Rydalmere.

Council will continue the free Harris Park Hop Service for a further three months in conjunction with a marketing plans with the Harris Park business community, and will make representation to the state government seeking an enhancement of the off- peak public transport services between Harris Park and Parramatta CBD.