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Sydney CBD set to boom
Released 6 May 2011

Sydney’s famous George Street retail and office precinct is to benefit from nearly $1 billion in redevelopment as renewed tenant demand for CBD space takes hold.    

A report in The Sydney Morning Herald said the tenants included fashion and service-based retailers as well as financial services, with George Street the main focus as shopkeepers look to take advantage of the revamped Pitt Street Mall.

Retailers unwilling to pay the high rents demanded in the Pitt Street Mall were looking at sites in George Street as well as nearby King and Market Streets.

Brett Henson, NSW Retail leasing Director for Jones Lang LaSalle, told the paper that demand now outstripped supply in the tightly held CBD core.

He said retailers were keen to have representation along George Street, particularly following the opening of the new Burberry store at No, 343 and the high number of pedestrians flowing to Wynyard Station.