Demand for Creative Workspace in South Sydney Continues

Prime space within South Sydney’s iconic Woolstores Estate has recently experienced increased interest with over 51 per cent of the creative office accommodation leased, and a further 30 per cent under offer, before the completion of the development. International companies have committed to the development, with ThyssenKrupp taking up 1,700 square metres and Swarovski taking up 1,500 square metres of space. Located at 6a Huntley Street in Alexandria, The Woolstores is one of South Sydney’s largest commercial developments, comprising three heritage woolsheds converted into 10,000 square metres of creative office accommodation. The Woolstores acts as part of Australia’s wartime history and the commercial estate is comprised of the only 3 woodsheds left of the original 250 sheds built. Knight Frank’s South Sydney Industrial Manager, Brooke Railton , in conjunction with CBRE’s Olivia Skinner , began marketing the office space, on behalf of property developer Truman Corporation , before construction and refurbishment works commenced in December 2013. Ms Railton said, “The interest to date reflects the continued demand from tenants for creative workspace in the South Sydney area which is supported by Green Square Train Station and the hugely popular cafes, bars, restaurants and recreational venues.” Related Article: Heritage Office Conversion The Woolstores Released In Alexandria “The market has responded really well to this exciting urban renewal project, with all enquiries looking to pre-commit to the office space between the sizes of 1,000-4,000 square metres, and those who have committed already were for spaces above 1,500 square metres,” continued Ms Railton. “The companies we have placed into The Woolstores development have been looking for a property with a unique edge and an environment that is vibrant and refreshing for staff. The quality of the building is paramount and offers premium grade commercial premises with high quality finishing’s and this has been the driving appeal for the first class and high profile tenants secured,” added Ms Railton. CBRE’s Olivia Skinner said, “This heritage property is also supported by a range of onsite amenities including a café, landscaped park area and childcare centre,” “The refurbishment of these buildings has embraced the original timber structure, ceiling heights and feature recycled brick and timber and polished concrete. There is a large emphasis on outdoor space with large landscaped areas and outdoor decking,” added Ms Skinner. “The remaining tenancies at The Woolstores range from 310 square metres in size, with rental rates from $425 per square metres gross. The Woolstores is due for completion in October 2014.

Demand for Creative Workspace in South Sydney Continues

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