Commercial Real Estate Management and Market Growth Opportunities in North Sydney
Did you know that North Sydney Office rents have enjoyed stellar growth over the past few years? This was mainly due to careful planning by Council and the redevelopment of older Commercial buildings to more than 2300 residential apartments hitting the North Sydney market in recent years. Naturally with lower supply and consistent demand, commercial office rents have seen solid increases year on year since 2013.North Sydney A Grade and B Grade net effective rents rose 8.3% and 2.8% over the year to June 2019.*
Another significant outcome of this change is that only a small handful of strata Commercial Office buildings remain in North Sydney, sparking fierce competition from numerous top tier developers to snap up what is left for future developments.
Now with the ever-increasing evening foot traffic from the new residents, there is an expectation of renewed investment from small business into retail shops, bars and restaurants within North Sydney’s Commercial core.
Many other players think the party is just getting started and planning to commit serious funds to take advantage of the unique opportunity of the ever diminishing strata office space in North Sydney.With ongoing council streetscapes and the highly anticipated arrival of the new Victoria Cross Station as part of the Sydney Metro rail link, the attraction for many smaller tenants to first come and then stay in North Sydney will be hard to beat.
The only question for you now is, when will I invest in a North Sydney strata Retail or Office and who do I know who has the market knowledge to manage it for me?
For more information please contact:
Tim Storey – Licensee
Pure Property Management Sydney
0458 776 776