N O R T H S Y D N E Y C O U N C I L
CBD Working Group
Report CBD01 – 25 November 2014 Attachment:
1. ‘North Sydney Going For Growth’ Presentation
SUBJECT: ‘North Sydney – Going For Growth’ – Property Council Presentation AUTHOR: Brad Stafford, Senior Strategic Planner ENDORSED BY: Joseph Hill, Director City Strategy EXECUTIVE SUMMARY: On Friday 17 October, The Property Council of Australia hosted a promotional breakfast in Sydney's CBD entitled 'Going for Growth in North Sydney'. The event was sponsored by North Sydney Council and Leighton Properties. The slide presentation delivered by Warwick Winn is attached to this report for the information of Working Group members. RECOMMENDATION: 1. THAT The ‘North Sydney - Going For Growth’ - Property Council Presentation report be received.
Report of Mark Yee, Strategic Planner Re: North Sydney Centre Review 2013
(2)
LINK TO DELIVERY PROGRAM The relationship with the Delivery Program is as follows: Direction: 3 Our Economic Vitality Goal: 3.2 Ensure North Sydney CBD is one of Australia’s largest commercial
centres. BACKGROUND Property and development industry professionals filled the Amora Hotel ballroom to receive presentations from Warwick Winn, Council's General Manager and Peter Clemesha, Project Director at Leighton Holdings. Peter Flint from CBRE and Garry Rothwell from Winten Property Group then joined the aforementioned presenters for a moderated panel discussion on the future challenges and opportunities for the North Sydney Centre. The presentations and panel discussion reflected a buoyant and positive outlook for the future of the North Sydney Centre, highlighting the impact of recent and current commercial and mixed use development, and acknowledging Council's continued efforts to revitalise the Centre through its promotional, public domain and planning initiatives. The event attracted significant stakeholder and industry interest and resulted in distinctly positive industry responses, such as the following article: http://www.indesignlive.com/latest-news/dramatic-change-ahead-for-north-sydney#axzz3GjVimAcV . CONSULTATION REQUIREMENTS Community engagement is not required as a result of this report. SUSTAINABILITY STATEMENT The sustainability implications were considered and reported on during the initiation phase of this project. DETAIL The slide presentation delivered by Warwick Winn is attached to this report for the information of Working Group members.
NORTH SYDNEY CENTRE
Warwick Winn, General Manager October 2014
CONSOLIDATED COMMERCIAL CORE to protect its economic viability
Our Vision for North Sydney…
MIXED USE ZONE on the fringe to attract residents
Recent Development Approvals/Completions
Commercial Development 3 major commercial developments
FLOORSPACE WORKERS INVESTMENT
125,000m2 6,000 people $500 million
Headquarters for Leighton Properties
Due for completion 2015
39,249m2 GFA (1,570m2 floorplates)
2,000 workers
Estimated CIV $158 million
177-199 Pacific Highway
40,100m2 GFA
1,250m2 floorplates
2,000 workers
Estimated CIV $189 Million
86-96 and 100 Mount Street
46,500m2 GFA
1,250m2 floorplates
2,000 workers
Estimated CIV $291 million
1 Denison Street
Mixed Use Development
>1,300 new dwellings
2,500 residents, doubling the Centre’s population
10 recent approvals / completions
North Sydney Workers Industry of employment
Source - North Sydney Commercial Centre Study 2012
SYDNEY NORTH SYDNEY
36% 9%
15% 7%
Professional, Scientific and
Technical Services
Financial and
Insurance Services
Source: Global Competitive Index (ANZSOG Institute for Governance and Commonwealth
Department of Immigration and Citizenship (DIAC)
Proportion of workers in knowledge intensive industries
0%
10%
20%
30%
40%
50%
60%
North
Sydney
Sydney Willoughby Lane
Cove
Ryde The Hills
Shire
Parramatta
OVER
50%
North Sydney has the highest proportion of workers in knowledge intensive industries
Source – Global Competitive Index (ANZSOG Institute for Governance and Commonwealth
Department of Immigration and Citizenship (DIAC)
Proportion of workers with university qualifications
North Sydney has the highest proportion of workers with university qualifications
0%
10%
20%
30%
40%
50%
60%
North
Sydney
Sydney Willoughby Lane
Cove
Ryde
OVER
50%
North Sydney Workers Individual income distribution (average)
Source - North Sydney Commercial Centre Study 2012
SYDNEY NORTH SYDNEY GROSS
WEEKLY INCOME
11% 9% $67,600 – $83,200
9% 6% $83,200 – $104,000
22% 9% $104,000+
36% of workers are
FAIRLY SATISFIED working in the
North Sydney area
8% are unsatisfied
Worker Satisfaction
Source - North Sydney Commercial Centre Study 2012
56% of workers are
SATISFIED working in the North Sydney area
Preferred Location for Tenants
Source - North Sydney Commercial Centre Study 2012
-100 -80 -60 -40 -20 0 20 40 60 80 100
Parramatta
South Sydney
(Alexandria)
North Ryde
(Macquarie Park)
Chatswood
St Leonards
North Sydney
Sydney CBD
0
5
10
15
20
25
Ja
n-0
1
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l-01
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n-0
3
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l-03
Jan-0
4
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l-04
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n-0
5
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l-05
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n-0
6
Ju
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Ja
n-0
7
Ju
l-07
Ja
n-0
8
Ju
l-08
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n-0
9
Ju
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n-1
0
Ju
l-10
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1
Jul-11
Ja
n-1
2
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l-12
Ja
n-1
3
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l-13
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n-1
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Ju
l-14
Va
can
cy R
ate
(%
)
North Sydney Chatswood Sydney CBD Crows Nest/St Leonards North Ryde
Vacancy
Source PCA Office Market Report
Business Support programs
$ Saved on
utility bills
contribute
to the
enviromental
upgrade change
Commercial
funds provided
to building
owner for
retrofit
Council
passes on
repayment
to lender
Enviromental
upgrade charge
collected by council
Majority of trips made by walking
Traffic & Pedestrian Management Strategy
Changes to traffic operations Shared zones
Additional pedestrian crossings Footpath continuation treatments
Upgrades to Miller Street Cycleways
STRATEGY
Assesses pedestrians behaviour
Prioritises pedestrians
Identifies works to improve pedestrian amenity and flow
1
2
3
Public Domain
NEW granite paving, seating and bus shelters
Upgrades of Brett Whitely Place,
Walker Street and Miller Street
UPGRADE
First pavers under the style guide were
laid in September
SEPT 2014
NEW Public Domain Style Guide being
implemented
Marketing Strategy
Developed by Frost
DEVELOP
Will be implemented
early 2015
2015
IMPLEMENT
Strategy supports vision
for a more vibrant CBD
STRATEGY
Council to focus more on events
to generate activity
FOCUS
New events team appointed
MANAGE
Education Precinct
Council is investing in developing the
Education Precinct
Adding seating, widening footpaths, public art to
create more spaces for people to meet and socialise
Over 5000 students attend
this precinct
Home to ACU, Shore and North
Sydney Demonstration School
Council is transforming the precinct into a
‘living campus’
23
THANK YOU