Spencer Street, an emerging destination for the astute! January 2007 RETURN
The inner north/West is now is in the middle of an explosion in both residents and professional offices. The Docklands, QV etc are having a telling effect on the district and this dynamic has a major spin off for the immediate precinct. In particular Spencer Street is enjoying a revolution to its once tatty streetscape. The $700m Southern Cross Railway redevelopment heads $1.4 billion in property underway, including the $250m revamp of the World Trade centre that will finally showcase its outstanding waterfront situation. Under consideration are the new Australia Post headquarters, several major Hotels and a mix of projects with a blend of office, residential and retail content. Sites to watch are the old “Age Headquarters” reputedly sold for $50m and the former Lonsdale St power station with 6000m2 being prepared for development by Russian consortium Soldis Capital. It has also been speculated Fairfax has interest in relocating its operations to an area that includes that above the existing railway yards. What a terrific impetus to this thriving precinct and a boom to our clientele who have taken our advices and purchased high performing investments nearby. We can only speculate what this district will appear as in 3-5 years, yet some things are certain, it will be spectacular, that it won’t stop evolving as a top end locale and values will continue to climb.
The inner north/West is now is in the middle of an explosion in both residents and professional offices. The Docklands, QV etc are having a telling effect on the district and this dynamic has a major spin off for the immediate precinct. In particular Spencer Street is enjoying a revolution to its once tatty streetscape. The $700m Southern Cross Railway redevelopment heads $1.4 billion in property underway, including the $250m revamp of the World Trade centre that will finally showcase its outstanding waterfront situation. Under consideration are the new Australia Post headquarters, several major Hotels and a mix of projects with a blend of office, residential and retail content. Sites to watch are the old “Age Headquarters” reputedly sold for $50m and the former Lonsdale St power station with 6000m2 being prepared for development by Russian consortium Soldis Capital. It has also been speculated Fairfax has interest in relocating its operations to an area that includes that above the existing railway yards. What a terrific impetus to this thriving precinct and a boom to our clientele who have taken our advices and purchased high performing investments nearby. We can only speculate what this district will appear as in 3-5 years, yet some things are certain, it will be spectacular, that it won’t stop evolving as a top end locale and values will continue to climb.