Parramatta’s Economy Is Growing: Take Advantage of the Growth with Commercial Real Estate Property Leasing in Inner West Sydney
It’s common knowledge that Sydney and Melbourne are the biggest economic hubs in Australia. However, did you know that Parramatta has the third biggest economy of any city in Australia besides those two epicentres, after Perth and Brisbane? Indeed, Parramatta is swiftly becoming a go-to destination for both businesses and job seekers. If your company is looking for new offices, now might be the perfect time to invest in commercial real estate in Inner West Sydney.
The Across-the-Board Growth of Parramatta
Why is Parramatta exhibiting such a notable growth trend? Thanks to both private and public investment. In recent years, $16 billion in Government funding has gone towards revitalizing Western Sydney. The money is paying for improvements in almost every notable category. Major road projects will make it easier to get from Inner West Sydney to the Western Suburbs. A new light rail system will make getting around even easier. Speaking of transportation, the new Western Sydney Airport—projected for completion by 2026—will put Parramatta within minutes of Sydney’s first and only 24-hour international airport. Even Western Sydney’s medical precinct will receive an injection of Government money.
Collectively, these publicly funded projects are also fostering growth and private investment in the City of Parramatta. Businesses are flocking to the area not only to reap the benefits of the new infrastructure, amenities, and facilities but also because a group of talented young professionals are making Parramatta their home. More conveniently located and more affordably priced than Sydney’s CBD, the City of Parramatta is becoming the place for younger talent to be.
Businesses that wish to capitalise on the growth, convenience, and popularity of Parramatta should consider setting up offices, store locations or even headquarters here. Fortunately, opportunities for commercial property leasing in Inner West Sydney are also becoming more popular.
Parramatta Square: A-Grade Commercial Property Real Estate Inner West Sydney
New airports, highways and light rail systems are not the only project developments going on in the City of Parramatta right now. On the contrary, there is also Parramatta Square, one of Australia’s largest urban renewal projects. Parramatta Square is a $2 million development project that will bring A-grade commercial, retail, and residential space to the Parramatta CBD.
As Parramatta evolves into a Blue-Chip precinct—with professional services overtaking manufacturing as the area’s prime business focus—there needs to be office space to accommodate those businesses. Parramatta Square will do so with comfort, style, class, convenience, and function. One of the missions behind the development is to set ‘a new benchmark for corporate quality in Parramatta.’ The development’s striking towers of commerce will add to the city’s skyline while also putting businesses and their employees right above major shopping and dining amenity, with direct access to Parramatta train station. Simply put, your employees are going to want to work here.
If your business has been looking for commercial property for lease in Inner West Sydney, then Parramatta Square is an opportunity you don’t want to miss. To request information about Parramatta Square’s commercial properties, click here.