Up to 17 new commercial spaces set to expand Macquarie's business precinct

Macquarie’s business precinct is set to be expanded, with 1052 square metres of commercial space to be offered for rent from Friday.

The spaces will be located on the ground floor of the new 74-apartment Parc development.

Colliers International director of office leasing, Michael Ceacis, said the rental rate of the space is between $495 and $575 (plus GST) a square metre per annum.

“It can be divided into 10 retail tenancies or more. Depending on how we split them, there’s the potential for 17 tenancies,” he says.

Most of Macquarie’s commercial offering is condensed in the Jamison Centre, and Ceacis said Parc will help to boost the area, particularly as it will offer additional parking spaces.

“It’s across the road from Macquarie’s Jamison retail centre and although there have been other mixed-use developments in the area, none of them have had parking at the front, especially so close to the centre,” he says.

“It’s broadening the offering for the retail centre and this is the last development in the area that can accommodate commercial spaces.”

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Ceacis says he was surprised by the interest before the launch of the development.

“There’s already been a lot of interest from medical practitioners, cafes and professionals, including accountants and lawyers,” he says.

The 74 residential apartments at Parc come in a range of one, two and three-bedroom designs. There are an additional 23 townhouses of three and four bedrooms.

Colliers International associate director of residential, Nectaria Moutafis, says residential sales have remained steady.

“It’s mostly sold to live-in buyers and a small number of investors as well,” she says.

Moutafis says building is set for completion in August, with residents expected to move in towards the end of this year.