Spanish retailer Zara’s first Australian store has sparked a surge in crowds in Sydney’s midtown and lifted interest in retail and office tenancies in the precinct, says Ray White Commercial.
Ray White Commercial Office Leasing Director John Skufris saidSydney's midtown is experiencing crowd levels not seen since the 2000 Olympics.
“The hype of Zara's grand opening in Pitt Street Mall at the redeveloped Westfield plus George Street's retailers including Apple and Burberry is creating a buzz to rival the atmosphere during the Sydney Olympics,” Mr Skufris said.
“There’s certainly a lot more interest from retail and office tenants seeking convenience for their clientele in the midtown area.”
Mr Skufris said retailers are now considering vertical retail opportunities including 387 George Street and the Dymocks building at 428 George Street, which are both being offered for lease by Ray White Commercial.
“387 George Street, known as Georges House, is an award winning heritage refurbishment located opposite Mid City's thoroughfare to Pitt Street Mall,” said Ray White Commercial’s Anthony Harris.
“Its self-contained whole floor tenancies of approximately 145 sqm have attracted tenants including Walt Disney, Kumuka Travel and Weight Watchers.
“387 George Street offers after hour access for late and weekend trading right between Town Hall and Wynyard."
Mr Skufris said Georges House and the Dymocks building are at the doorstep of the city's major shopping centres.
“They are ideal for tenants requiring non-traditional office space including heritage features, high ceilings, independent air conditioning and extended trading hours," he said.
“The conversion of the nearby Gowings building to a boutique hotel has limited supply for similar space in the midtown precinct with the Dymocks now almost 100 per cent leased.”
ENDS
Further enquiries:
John Skufris
Ray White Commercial Director (Office Leasing)
Mb: 0414 969 221
Email: jskufris@raywhite.com
Anthony Harris
Ray White Commercial Director (Office Leasing)
Mb: 0409 319 060
Email: aharris@raywhite.com