When it comes to Sydney office space, it seems like the rates are always high and getting into the property market is always steep. Despite the fact that office vacancy rates in the Sydney CBD are at an all-time high of 8.5% in January this year, many businesses are finding it hard to find a space in the 2000 postal code that suits their needs – not to mention their budgets.
However, while prices for premium property remain high, there are a number of other options available outside the immediate CBD – and there’s no need to compromise on space or amenities. Businesses across Sydney are setting their sights on these hot postcodes:
Ultimo 2007 – a former industrial area and the hub of wool development in Sydney until the 1980s, Ultimo offers many converted warehouses and industrial property for sale – these sites have been refurbished into funky residential and commercial premises. Just next door, Pyrmont 2009 is another convenient consideration, with many properties boasting stunning harbour views.
Surry Hills 2010 – Surry Hills is known as the artistic hub of the city with many designers and architects calling the area their home as well as the office. There are no shortages of cafes, pubs and restaurants to entertain and many older buildings have been fitted to suit even the most distinct tastes. Glebe 2037 and Darlinghurst 2010 next door offer a similar small community vibe with plenty of shopfronts for those looking for cafes and retail properties.
Chatswood 2067 – While St Leonards 2065 and North Sydney 2060 are the traditional North Shore CBD areas when it comes to commercial real estate, Chatswood is a booming commercial area for emerging businesses. The newly redone Chatswood station makes it easy for travellers coming in from the North as well as from the City. There’s no shortage of shops and cafes with two large shopping centres in the area.
Parramatta 2150 – known as Sydney’s second CBD, Parramatta is the commercial hub of Sydney’s thriving western suburbs. With over 650,000 of lettable square metres, Parramatta offers premium grade space without the expected mark-up that comes with leasing space in downtown Sydney.
If you’re looking for hot Sydney property, it’s time to consider venturing out of the 2000s. Sydney’s ever expanding population and growth means plenty of new opportunities for businesses to make their mark. A Sydney commercial property agent can help you find the perfect place to get started.