Liverpool spotlight in Sydney's rapidly growing south-west commercial arena

Liverpool spotlight in Sydney's rapidly growing south-west commercial arena
Liverpool spotlight in Sydney's rapidly growing south-west commercial arena

A booming population growth and an increasing development pipeline is pushing the commercial centre of Parramatta close to capacity.

CBRE Western Sydney agent Thomas Mosca said Liverpool was positioned to become the future capital of Sydney’s south-west amid a spate of new projects in the area, sustained population growth and low unemployment levels. 

“The current rate of growth in Sydney’s south-west is unsustainable," he said.

"We’re already seeing Parramatta experiencing extremely tight vacancy levels in the A-grade market, while future development potential enabling business growth looks limited." 

Mosca said Liverpool was on the cusp of a major transformation, with the next decade expected to see it accompany Parramatta as one of Sydney’s largest CBDs. 

“Currently, approximately 75% of Liverpool’s residents leave the area for work each day, which demonstrates the importance of cementing it as the commercial centre of Sydney’s south-west."

“While offering a plethora of opportunity, Liverpool is currently vastly underserviced. Liverpool needs more jobs for its residents – more commitment from government and large organisations.” 

He said that Liverpool offers a large development pipeline, healthy employment prospects and excellent transport connectivity and have an established and growing population.

Development is already underway across the Liverpool area, with a current supply pipeline of 16,000sqm for 2016, including several commitments from universities, local government and multi-national organisations. 

One of the newest developments underway is the Brydens law building at 100 Macquarie Street – and in immediate proximity to the Westfield shopping centre. 

The property, which is currently under construction, is already 100% committed, with Western Sydney University a major tenant in the 7200sqm A-grade building, after inking a lease on three floors, with potential for a fourth floor. 

Mosca said that due to the shortage of premium grade space in the area, Brydens law building was overwhelming.

He went on to suggest that the mooted extension of the metropolitan train line would further position Liverpool as the powerhouse of Sydney’s south-west. 

“Liverpool has the potential to become the region’s major transport interchange, with a number of proposed works set to make it one of the most connected and accessible suburbs in the south-west." 

Proposed transport works include the extension of the metropolitan line from Bankstown to Liverpool, making it just 35 minutes travel from Liverpool to the Sydney CBD; four train tracks at the new Badgerys Creek Airport –  enabling connections to areas like Leppington, Austral, Carnes Hill and Edmondson Park.

Tags: 
Parramatta Commercial Market

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