There's no space there (red numbers in blue parentheses are codepoint numbers of ASCII control characters, spaces are purple in blue parentheses):
([color:red]3)[/color]1The([color:purple]32)[/color]URL([color:purple]32)[/color]for([color:purple]32)[/color]#Australia.NSW.([color:red]3)[/color]12Sydney([color:red]3)[/color]99([color:purple]32)[/color]is:([color:purple]32)[/color]([color:red]2)[/color]([color:red]31)[/color]([color:red]3)[/color]12,00http://ozchat.org/sydney/([color:red]2)[/color]([color:red]31)[/color]([color:red]3)[/color]99,99([color:red]3)[/color]07[([color:red]3)[/color]99ID:([color:purple]32)[/color]ohgt([color:red]3)[/color]07]([color:red]15)[/color]([color:red]10)[/color]([color:red]10)[/color]
As you can see, there's no space after "/sydney/".
I'm guessing you're either using Vista or have got codepages installed on XP that make the underline control code appear as a space in editboxes. It's a known issue.