International retailers boosting Sydney super prime property markets

International retailers boosting Sydney super prime property markets
International retailers boosting Sydney super prime property markets

Sydney CBD rental rates have stayed stable over the last 12 months with some moderate growth in the super prime region.

Rental prices in the super prime  Pitt Street Mall retail avenue currently ranges from $10,000/m2 to $15,000/m2, while a selected number of recent leases have been above $15,000/m2, according to the Knight Frank's Sydney CBD August retail market brief.

The market brief found unwavering demand from overseas retails is driving leasing in the CBD, however Knight Frank senior research analyst Luke Crawford said  a number of international retailers waiting significant periods until suitable options become available.

"While demand is high, a lack of suitable options which offer scale and appropriate street frontage has stemmed the flow to some extent," Mr Crawford said.

"This was the case with H&M who spent four years looking to enter the Sydney CBD before securing 5,000m2 at Pitt Street’s Glasshouse Centre."

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International retailers boosting Sydney super prime property markets

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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Retail Sydney Cbd

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