Commercial prices soar in Sydney CBD's South
6 September 2018
Record prices are being achieved for commercial property in the southern end of the Sydney CBD, with more than $78 million worth of assets sold in recent months.

Haymarket and surrounding suburbs are making a comeback on the back of new infrastructure and development, with recent changes to planning controls attracting a new wave of buyers.

Executive for Metropolitan and Regional Sales at Savills Australia, David Hickey, says the Sydney CBD’s southern corridor is becoming one of the city’s “most dynamic locations”.

His observation follows the sales of 410 Pitt Street ($22.5 million), 810-812A George Street ($14.65 million) and 94 Hay Street ($16.3million) in Haymarket, and 332 Kent Street ($25million) in Sydney CBD.

“Haymarket is known for its proximity to the southern end of the CBD and all the amenities that it has to offer, including major colleges and universities, Chinatown and Central Station,” says Hickey.

“The recent changes in planning controls give incoming purchasers and developers a substantial opportunity to maximise the uplift and achieve greater density in new projects, providing they can amalgamate adjoining properties.”

Residential sales also strong

“The residential market in Sydney has slowed considerably across the metro area but the city and fringe suburbs have remained extremely strong,” says Hickey.

“Living in the Chinatown precinct, you could enjoy premium lifestyle amenities, surrounded by endless options for shopping and dining out, 24 hours a day, seven days a week.”

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