Creativity intersects with commercial prospects in Sydney

Creative-hubs-are-opening-up-around-Sydney-which-could-interest-commercial-and-residential-buyers_157_68829_0_14099396_300Local businesses in Sydney are getting ready for a boost, which may be promising for buyers and investors in the vibrant city.

A City of Sydney program is placing a range of creative businesses in otherwise unused properties around the city at cheaper rates, according to a May 6 statement from the council body.

Properties owned by the council have been transformed into “creative hubs”.

The areas targeted included Kings Cross, Surry Hills, Potts Point and Oxford Street. The injection of some creative spirit is turning under-utilised spaces into thriving spots. It could well be the case that this creates extra interest in surrounding commercial or residential properties, possibly increasing their values over time.

“Empty spaces between commercial tenancies or those due for upgrades are on offer to creative types to make the best use of the City’s properties and encourage a flourishing creative culture in Sydney,” the council explained.

For up-and-coming artists, these kinds of initiatives could be exactly what they need to grow personally and professionally, while investors and home buyers may become more interested in these suburbs given the exciting activities going on.

Current “creative tenants” include The Design Residency, Intersect Arts and Work-Shop. Design Residency is a fashion, textiles and jewellery incubator that offers programs to local designs looking to get a leg-up and develop “sustainable business models”, the council noted.

Meanwhile, a four-storey property in Surry Hills has been transformed into Intersect Arts, a collective space for designers and artists to showcase their work.

Work-Shop runs courses for creative sorts in Oxford Street and also uses the space to hold exhibitions for up-and-coming artists.

Investors wishing to explore their commercial property opportunities or home buyers keen on securing a home in one of these flourishing suburbs may wish to get in touch with an experienced property agent today.

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