Office builds expand horizons

Monday 02 June 2014

Site-constrained markets such as the CBD, North Sydney and Chatswood are expected to lose market share to locations offering a better mix of site availability, accessibility, amenity and affordability.

North Ryde, Parramatta and the residual metropolitan markets of Norwest, Olympic Park and South Sydney offer the most potential for growth, the report says.

Over the next 10 years, Sydney’s metro office stock will increase by nearly 2.6 million sqm—or 22 per cent from current levels—over two distinct construction cycles, the report says.

Between 2015 and 2018, it is estimated that about 1 million sqm of new projects will be completed across the Sydney metropolitan area, with the CBD initially leading the way, followed by projects in North Sydney, Parramatta and other suburban markets in 2016.

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