AUSTRALIA (Alexandria) — Collins on Bourke, Alexandria's largest mixed-commercial high-tech development in the last five years, is complete, and the first tenants are moving in to this burgeoning south Sydney neighborhood. propertyfinder
The $90 million, three-level development, which includes a mix of high-clearance showrooms, warehouse spaces with loft suites, and hi-tech creative offices, is now 45 percent leased.
Moving into Collins on Bourke is the next step in Alexandria's evolution from an industrial suburb to one of the city's most lively and eclectic new business neighborhoods.
The completion of Collins on Bourke coincides with the announcement that Green Square Town Centre is going forward. Around 1,600 residential units, 12,000 square meters of retail space, and up to 48,000 square meters of A-Grade commercial space will be included in the $1.7 billion mixed-use community.
The state-of-the-art development was created by HSF Property Developments and Grant Samuel Capital. Collins on Bourke was created with a combination of retail, light industrial, and high-tech innovative businesses in mind. It has already piqued the attention of companies based on the outskirts of Sydney's CBD.
Colliers International's Michael Crombie said, "Collins on Bourke is now the most attractive hybrid development in the greater South Sydney market and beyond." "This provides tenants with a modern office space with an ideal work-life balance." Bourke Street is humming, and it's the clearest indication that this suburb is maturing. Collins on Bourke is at the center of that evolution, and it will continue to lead change as tenants seek more innovative, higher-quality, and more affordable housing."
Suntory, a family-owned wine business, child-care centers, and a restaurant and wine bar by Prospero Group, known for their famous Manta Restaurant and Bar on Woolloomooloo Wharf, are among the early tenant commitments. Almost half of the room is outside, under a canopy of fig and melaleuca trees.
According to owner representative George Mitsis, rates for the various spaces vary, but they all reflect competitive terms based on the style of property and consumer demand.
"The tenancy mix we've attracted is excellent," Mitsis continued, "and we expect interest to only grow now that the project is complete and the site begins to come to life." "It's a clever mix of housing, and tenants have recognized the importance of what this mix of businesses can offer to them as tenants, as well as the wider South Sydney community." It's the kind of place that understands how people are choosing to live and work these days."
Meanwhile, the massive Green Square Town Centre project has been in the works since the announcement of the railway connection between Sydney CBD and the airport in 1991, but a project agreement announced at the end of March between Leighton Properties, Mirvac, and Landcom has reignited the project.
During and after construction, the Green Square precinct is projected to create about 7,000 jobs, provide new homes for about 5,500 residents, and produce approximately $3.2 billion in the local economy.
"These are exciting times for the city, and Collins on Bourke is well-positioned to provide tenants and owners with a fantastic place to work and an excellent investment," Mitsis said. "Demand for this kind of space is only going to expand."