Sydney's fringe Area In Hot Demand: Inve Sydney
The fringe area of Sydney is in demand in the developers as the tenants and investors move away from the city zone.
For the planned development, CWE Sydney and Savills will take the leasing.
Phil Montgomery, from Savills head of research, says the value proposition in the Alexandria area is a compelling proposition for those tenants who wants to close the proximity to the city without paying office rents.
Montgomery said, by 2022-23, A-grade Sydney CBD's gross rents will come in between $1450 and $1500 per Sqm. As 40 to 50% differential for similar property in Alexandria.
It is said that Sydney's south-eastern fringe has good value, which is complemented by the residential projects.