Macquarie Park back in business
The Property Council of Australia’s latest Office Market Report released today shows that Macquarie Park has strong demand for commercial office space in all grades with overall vacancy dropping from 6.0 to 5.4 per cent in the six months to July 2018.
All grades of office stock recorded positive demand indicating a strong pipeline of investment in the area.
“Macquarie Park has shown strong demand and has produced much stronger results over the past two reports,” Property Council NSW Executive Director Jane Fitzgerald said today.
“The vacancy rate reduced due to 8,061sqm of net absorption over the period with 3,552 sqm added.
“There is no new space to come online until 2019 so it will be interesting to see how this market develops over the next 18 months given increased infrastructure investment in the area and tight competing office markets.”
For a comprehensive range of Australian property industry data visit the Data Room at http://research.propertycouncil.com.au/data-room
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