The Rise Of The Western Sydney Suburbs

Par­ra­matta Is One Of Australia’s Fastest-growing Com­mer­cial Hubs.

More than 20% of Australia’s Top 500 com­pan­ies have a pres­ence there, and the area also enjoys grow­ing links with China and India.  Increas­ing num­bers of inter­na­tion­ally recog­nised com­pan­ies are look­ing to the west­ern sub­urbs to set up shop and make long term invest­ments; Par­ra­matta is rap­idly becom­ing Sydney’s second CBD.

It’s about time that Sydney looked west to the enorm­ous eco­nomic oppor­tun­it­ies that the west­ern sub­urbs’ boom­ing pop­u­la­tion and forward-looking cit­ies rep­res­ent.” Mar­cus Mou­far­rige, COO of Ser­vcorp Said.

So how can your busi­ness take advant­age of this?

Office Space Is In Demand

ParramattaBusi­ness growth is fuel­ing huge demand for office space.  Vacancy rates are at only 9%, accord­ing to Prop­erty Coun­cil of Aus­tralia fig­ures. And des­pite Parramatta’s rapid growth, only 25,000 square metres of new office space is sched­uled to be built here over the next two years; an increase of just 3.7% against a much higher pop­u­la­tion and jobs growth rate.

This drives prices up, which is great news for com­mer­cial prop­erty investors, but it puts premium loc­a­tions out of reach for many smal­ler com­pan­ies who don’t have the same money to spend on leas­ing that mul­tina­tion­als do.

One afford­able way to access premium space is through ser­viced offices.  They give you instant entry at a frac­tion of the cost of set­ting up your own premises, but with all the fea­tures and pro­fes­sional, per­son­al­ised ser­vice that you would expect at your own location.

Stat­ist­ic­ally, it has been shown that small busi­nesses and branch offices in the ser­viced office envir­on­ment have a 60% greater chance of suc­cess than those attempt­ing to start by provid­ing their own infra­struc­ture in tra­di­tional space.

 

No longer Just Satel­lite Suburbs

His­tor­ic­ally people in the Black­town, Par­ra­matta and Hills areas have suffered lengthy com­mutes to Sydney’s CBD every day.  This is a waste of time and money.

Thank­fully this is now chan­ging.  As well as more com­pan­ies open­ing offices in the west, tele­work­ing is becom­ing a pop­u­lar option for many workers.

A pro­fes­sional way to do this is through a vir­tual office.  This gives you a premium busi­ness address and phone num­ber, with access to enter­prise grade ICT infra­struc­ture, while allow­ing you to work from whatever loc­a­tion you like.

House Price benefitsMarcus Moufarrige, COO of Servcorp

It’s expec­ted that tele­work­ing will have a pos­it­ive impact on sub­urban house prices.  Because inner city liv­ing becomes less of a pri­or­ity, home buy­ers have a wider choice of places to buy from.  They can get more bang for their buck, and pur­chase a lar­ger prop­erty in a less con­ges­ted area, all without sac­ri­fi­cing their career.

At Ser­vcorp we are embra­cing these new work prac­tices. We recently partnered with the Fed­eral Gov­ern­ment for National Tele­work­ing Week; encour­aging our own staff, many of whom live in Sydney’s west, to tele­work. They enjoyed sav­ings on their travel costs while still being able to par­ti­cip­ate in meet­ings via tele­con­fer­en­cing and videoconferencing.

West­ern Sydney is now a des­tin­a­tion.  It is no longer a group of satel­lite sub­urbs push­ing work­ers into cent­ral Sydney.  From large enter­prises to entre­pren­eurs, Par­ra­matta and its sur­round­ing sub­urbs make up a sig­ni­fic­ant hub of innov­a­tion and its work­ers are the future of New South Wales.

About 

About Mar­cus Mou­far­rige
Mar­cus Mou­far­rige is the COO of Ser­vcorp and a pas­sion­ate advoc­ate for small busi­ness, using his pro­file to lobby for small busi­nesses interests with both gov­ern­ment and the media. Ser­vcorp recently expan­ded into the new elite Eclipse Tower Parramatta.

seven hills real estate agent NSW
Cnr Federal Road Prospect Highway Seven Hills NSW 2147 Australia