Commercial Property in Parramatta CBD

Post date: Aug 4, 2015 5:30:11 AM

We have analysed sales of commercial properties around O'Connell St in Parramatta CBD. However, there are not many sale and lease evidence to indicate a fully leased market yield. We considered a fully leased market yield of around 8% to 9.5% for B-grade office in Parramatta office market at the moment.

As always, we consider to look at inner office space excluding balcony area. Also beware of parking levy on a car space, imposed by the Office of State Revenue in NSW. If this is the case, you have to pay for the car space not only a parking levy but also strata levy and Council rates on the car space as well. This is the case where car space is located on leviable districts. This area includes in City of Sydney, North Sydney and Milsons Point, Bondi Junction, Chatswood, Parramatta and St Leonards, which you can refer to the map on OSR website.