Where are Sydney's strategic growth centres?
With the population in Sydney steadily growing, opportunities for businesses and employment are yours for the taking. If you're looking for long-term capital growth for your own equipment hire or plant hire business in Sydney, you have to find the developing areas most likely to have opportunities beyond 2020.
To help you out, we have listed the three strategic growth centres in Sydney.
Green Square
Image source: Green Square - City of Sydney
This is one of the biggest urban renewal projects in Sydney and in Australia. The $13 billion project will transform the southern precinct into a sustainable environment. The development area for Green Square covers 278 hectares of underutilised industrial land. This includes the suburbs of Beaconsfield and Zetland, as well as parts of Alexandria, Rosebery and Waterloo.
Once completed, Green Square’s expected population is at 61,000 and could also provide 21,000 permanent jobs. Green Square’s new town centre will be strategically built next to the Green Square train station which will also be bordered by Bourke Street to the north and Joynton Avenue to the south.
Macquarie Park
Image source: Macquarie Park
Known as the third largest commercial office region in New South Wales just 12 kilometres north-west of Sydney’s CBD, Macquarie Park is fast becoming Australia’s fourth largest central business district by 2030 – right after Sydney, Melbourne and Brisbane.
In the last decade, Macquarie Park has seen a major boost in infrastructure projects such as the Chatswood to Epping rail link and the Lane Cove Tunnel, and will continue to see a further development which includes the North Ryde Station Precinct.
Parramatta
Image source: The Sydney Morning Herald
Positioned right at the centre of metropolitan Sydney, Parramatta has long been considered as its second CBD.
Demolition works have recently been approved for the $2 billion Parramatta Square development project, and this is only one of the major works that the area will see. Other developments in the area include Lennox Bridge and Macquarie Street Car Parks, as well as various commercial and residential developments.
The State Government plays a significant role in allotting funds for local and regional infrasturcture projects, and they ensure that they make good use of the taxpayer's dollar. This is why the Government often includes the participation of local suppliers in their tendering process. Find out more on how local suppliers can improve your tender applications by downloading our free eBook below.
Author's note: Information on this post was sourced from Domain.com.au
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