A Parramatta office is also a drawing point for staff. For many people, working in Parramatta means a shorter commute than if they were working in other areas of the city. Even during peak hour, a huge part of Greater Sydney is now within an hour’s commute of Parramatta’s CBD, whether commuters are driving or using public transport.
Also, in a world where there is a perennial talent shortage, establishing a base in Parramatta means access to an experienced and educated talent pool.
“Businesses in Parramatta tap into a young, diverse and increasingly educated workforce,” says Esber. “More than 47 per cent of adults in our city have a degree.”
Tapping the best of the west
Professional services firm Deloitte recently relocated its western Sydney office to Parramatta Square, with Deloitte principal Camilla Collins saying the move has helped the business to employ great staff while locating the partnership alongside many of the firm’s major Parramatta clients.
“We are attracting people to the Parramatta office who have not historically worked from there,” Collins says. “They want to come to Parramatta because it’s easy to get to and they feel more connected to the western Sydney market and office.”
Collins, who lives in Sydney’s inner west, says it takes her the same time to commute to central Sydney as it does commuting to Parramatta.
Various transport options make the commute to Parramatta easy. City of Parramatta
“It’s really easy to book a desk in Parramatta and the parking is cheap and available. There’s no compromise in terms of the experience working between the two offices.”
Deloitte corporate finance partner David Hagger says Parramatta ticks boxes post-COVID. It’s a solution for firms trying to navigate the new hybrid workplace, which combines working at the office with working at home.
“There is a growing appetite to be part of what’s happening [in Parramatta] and now is the time to get a foothold in the market. Demand for quality properties connected to amenities and transport will only increase.”
— City of Parramatta Lord Mayor Pierre Esber
“Commercial developers and councils have been investing in making it worth people’s while to go back to the office,” Hagger says. “If you work in Parramatta, you have access to great food and beverage options, and there’s really easy access to all the amenities you need.
“It’s a real focus for companies because if precincts can’t attract people back to the office, they won’t be able to secure good tenants.”
Parramatta commercial property is relatively inexpensive compared to central Sydney’s CBD.
“We know there are a lot of businesses taking advantage of the change in people’s working habits post-COVID to downsize and upgrade and move to Parramatta,” says Esber.
Creating a thriving core
Parramatta has historically suffered from an undersupply of A-grade office space, but that’s changed. It now offers premium office space close to transport and amenities, and has become a strategically significant location for businesses with Asian operations or customers due to the large number of migrants living in the area.
“We are attracting people to the Parramatta office who have not historically worked from there. They want to come to Parramatta because it’s easy to get to and they feel more connected to the western Sydney market and office.”
— Deloitte principal Camilla Collins
According to research conducted by Deloitte, more than 200,000 square metres of commercial space has been added to the Parramatta property market in the last three years, driven by the relocation of some state government departments and by private sector businesses moving into premium office space in Parramatta.
Since 2021, the NSW government has relocated more than 4000 staff from the Sydney CBD to Parramatta Square. “This is creating a nucleus of decision makers in the heart of our city,” says Esber.
In the future, he expects more businesses to jump in.
“There is a growing appetite to be part of what’s happening here and now is the time to get a foothold in the market. Demand for quality properties connected to amenities and transport will only increase.”
Esber says the plan is to further invigorate Parramatta by activating undeveloped sites near the light rail and Metro that will be “critical to building Parramatta’s vibrancy as an economic powerhouse”.
To learn more, visit atparramatta.com/business/parramatta-cbd-report.
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