SOUTH SYDNEY - NEW SOUTH WALES

South Sydney is at the heart of the largest combined airport and seaport in Australia's largest city. Recent developments have opened up a range of opportunities for developers and tenants, as space in competing areas has had to contend with transport constraints, low vacancy rates and therefore higher rents.

Recent initiatives which have helped improve transport in the South Sydney/Botany region include an AU$650 million, Airport/Rail link, the Eastern distributor roadway at AU$700 million and the soon to be completed M5 motorway extension at AU$650 million, in addition to the Rail Extension at AU$25 million. An upgrade of the airport at a cost of AU$2 billion, and an AU$800 million port upgrade has also been responsible for a surge of activity in South Sydney.

In property, South Sydney has been able to offer consistent yields upwards of 10%. Land values in the areas have also increased by as much as 60% in the past five years. Major corporations have also been attracted to the area as land and property elsewhere becomes scarce and less affordable.

Apart from the commercial industrial aspect of the area, South Sydney has also been the subject of a residential boom, with the redevelopment of several former industrial sites creating a major new residential market in Sydney.

With increased transport links to other manufacturing, commercial and retail areas and the workforce behind it, CB Richard Ellis' South Sydney office is at the hub of a fast-growing region and looking forward to taking part in that success.