north sydney centre · headquarters for leighton properties due for completion 2015 39,249m 2 gfa...

NORTH SYDNEY CENTRE

Warwick Winn, General Manager October 2014

CONSOLIDATED COMMERCIAL CORE to protect its economic viability

Our Vision for North Sydney…

MIXED USE ZONE on the fringe to attract residents

Recent Development Approvals/Completions

Commercial Development 3 major commercial developments

FLOORSPACE WORKERS INVESTMENT

125,000m2 6,000 people $500 million

Headquarters for Leighton Properties

Due for completion 2015

39,249m2 GFA (1,570m2 floorplates)

2,000 workers

Estimated CIV $158 million

177-199 Pacific Highway

40,100m2 GFA

1,250m2 floorplates

2,000 workers

Estimated CIV $189 Million

86-96 and 100 Mount Street

46,500m2 GFA

1,250m2 floorplates

2,000 workers

Estimated CIV $291 million

1 Denison Street

Mixed Use Development

>1,300 new dwellings

2,500 residents, doubling the Centre’s population

10 recent approvals / completions

North Sydney Workers Industry of employment

Source - North Sydney Commercial Centre Study 2012

SYDNEY NORTH SYDNEY

36% 9%

15% 7%

Professional, Scientific and

Technical Services

Financial and

Insurance Services

Source: Global Competitive Index (ANZSOG Institute for Governance and Commonwealth

Department of Immigration and Citizenship (DIAC)

Proportion of workers in knowledge intensive industries

0%

10%

20%

30%

40%

50%

60%

North

Sydney

Sydney Willoughby Lane

Cove

Ryde The Hills

Shire

Parramatta

OVER

50%

North Sydney has the highest proportion of workers in knowledge intensive industries

Source – Global Competitive Index (ANZSOG Institute for Governance and Commonwealth

Department of Immigration and Citizenship (DIAC)

Proportion of workers with university qualifications

North Sydney has the highest proportion of workers with university qualifications

0%

10%

20%

30%

40%

50%

60%

North

Sydney

Sydney Willoughby Lane

Cove

Ryde

OVER

50%

North Sydney Workers Individual income distribution (average)

Source - North Sydney Commercial Centre Study 2012

SYDNEY NORTH SYDNEY GROSS

WEEKLY INCOME

11% 9% $67,600 – $83,200

9% 6% $83,200 – $104,000

22% 9% $104,000+

36% of workers are

FAIRLY SATISFIED working in the

North Sydney area

8% are unsatisfied

Worker Satisfaction

Source - North Sydney Commercial Centre Study 2012

56% of workers are

SATISFIED working in the North Sydney area

Preferred Location for Tenants

Source - North Sydney Commercial Centre Study 2012

-100 -80 -60 -40 -20 0 20 40 60 80 100

Parramatta

South Sydney

(Alexandria)

North Ryde

(Macquarie Park)

Chatswood

St Leonards

North Sydney

Sydney CBD

0

5

10

15

20

25

Ja

n-0

1

Ju

l-01

Ja

n-0

2

Ju

l-02

Ja

n-0

3

Ju

l-03

Jan-0

4

Ju

l-04

Ja

n-0

5

Ju

l-05

Ja

n-0

6

Ju

l-06

Ja

n-0

7

Ju

l-07

Ja

n-0

8

Ju

l-08

Ja

n-0

9

Ju

l-09

Ja

n-1

0

Ju

l-10

Ja

n-1

1

Jul-11

Ja

n-1

2

Ju

l-12

Ja

n-1

3

Ju

l-13

Ja

n-1

4

Ju

l-14

Va

can

cy R

ate

(%

)

North Sydney Chatswood Sydney CBD Crows Nest/St Leonards North Ryde

Vacancy

Source PCA Office Market Report

Business Support programs

$ Saved on

utility bills

contribute

to the

enviromental

upgrade change

Commercial

funds provided

to building

owner for

retrofit

Council

passes on

repayment

to lender

Enviromental

upgrade charge

collected by council

Majority of trips made by walking

Traffic & Pedestrian Management Strategy

Changes to traffic operations Shared zones

Additional pedestrian crossings Footpath continuation treatments

Upgrades to Miller Street Cycleways

STRATEGY

Assesses pedestrians behaviour

Prioritises pedestrians

Identifies works to improve pedestrian amenity and flow

1

2

3

Public Domain

NEW granite paving, seating and bus shelters

Upgrades of Brett Whitely Place,

Walker Street and Miller Street

UPGRADE

First pavers under the style guide were

laid in September

SEPT 2014

NEW Public Domain Style Guide being

implemented

Marketing Strategy

Developed by Frost

DEVELOP

Will be implemented

early 2015

2015

IMPLEMENT

Strategy supports vision

for a more vibrant CBD

STRATEGY

Council to focus more on events

to generate activity

FOCUS

New events team appointed

MANAGE

Education Precinct

Council is investing in developing the

Education Precinct

Adding seating, widening footpaths, public art to

create more spaces for people to meet and socialise

Over 5000 students attend

this precinct

Home to ACU, Shore and North

Sydney Demonstration School

Council is transforming the precinct into a

‘living campus’

23

THANK YOU