Transcript: Sydney’s Inner West is growing. In fact, it’s quickly becoming one of the most desirable places to live and work in Australia. And from Sydenham’s creative renovations to Summer Hill’s extensive apartment developments, it’s pretty clear that both residents and businesses want a piece of Sydney’s Inner West. In this video, let’s look into 6 reasons to invest in an inner west commercial property.

Number One: The People

The population of Sydney’s inner west is younger, more educated, and financially better-off than those living in Greater Sydney. They’re much more likely to use public transport to commute to work, and their household incomes are greater than the national average. These factors combine to mean big things for commercial property owners.

Number Two: Rental Prices Are High

Residential rents in Sydney’s inner west are around $100 greater than the state average and $120 more than the national average. This is frustrating for many of the younger residents of the area who are having a hard time breaking into the real estate market. But for commercial property owners in the area, it means high rental demand and low vacancy rates.

Number Three: New Industries are moving in. Creative industries like media and communications are looking to the inner west for desirable office space. Many of these businesses are looking for open-plan and campus-style workspaces for their collaborative teams.

Industrial spaces that were previously used as warehouses and industrial centres are now being snatched up by this new breed of tenant. Many owners of industrial properties are finding they can market their spaces to a broader section of the business community.

Number Four: Bankruptcies are Declining

A healthy local economy is exactly what commercial property owners hope for, and that’s exactly what they’re getting in Sydney’s inner west. Figures show a growing number of business entries and declining rate of business exits and bankruptcies in the area.

Number Five: Sydney Businesses are Broadening their Horizons

In past years, a high-rise office in the CBD was the measure of success for Sydney businesses.

Times have changed, however, and the gentrification of the inner-west suburbs has led Sydney businesses to branch out into the suburbs.

Number Six: Opportunity is Knocking

When it comes to real estate, timing is almost everything. Investing in the right place at the right time can set you up for years of success. Sydney’s inner west is experiencing a convergence of trends that make it very attractive for commercial property investors.

As you can see, it’s a great time to invest in commercial property in Sydney’s inner west. The young and vibrant population, the healthy economy, and the gentrification of the suburbs all lead to low vacancy rates and increasing values.

For more information about the best property management the Inner West has to offer, give us a call at Nutshell Property.

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