Property market is so HOT at the moment........with such low interest rate........people prefer to invest the money in property rather than leaving at the bank earning minimal interest.
^^ Note this. Lend Lease will have to move quickly to get approval for the modified concept plan and then further approval for the detailed designs for the remaining residential buildings at Barangaroo South.The next Barangaroo apartments go on sale within 18 months. Buyers who missed out this weekend go to the front of the queue.
Where should we be looking to expand the CBD?To be honest. Every suburb surrounding the C-B-D is mostly residential, and the C-B-D is constrained geographically and through archaic planning laws. So I don't mind if big floor plate commercial towers are built in the C-B-D to satiate some present and future demand.
There is no shortage of room for resi's in a 2- 3km radius of the C-B-D.
There will be some conversions stemming from Barangaroo and to add to it a few new purely residential towers but Central Sydney is facing limits in what can and what cannot be built.Good news is that in few years when office oversupply kicks in we'll have lot of office buildings to convert to residential ... it might take another decade or so but we'll get it right, eventually ... maybe ...
I think South is our best bet (Chippendale and Ultimo). The suburbs are a short walk from Central and there seems to be many blocks that could cater for tall highrise development. Pyrmont and William street to the Cross are other areas that could deal with more beefing up as well.Where should we be looking to expand the CBD?