Infrastructure

 

Infrastructure

The Savills Office Market Quarter Time 2019 covers Australia’s office markets. It includes a quarter summary and outlook, market indicators, etc.

Some highlights are:

· Office space is the preferred asset due to strong tenant demand, scarcity, and foreign capital.

· Vacancy in Sydney remains below 4% revealing a tight market.

· Sales in the last 12 months were higher than average due to investors' demand. International investors make up 28% of transactions larger than $5 million.

West Connex

To be completed in 2023, WestConnex is a new motorway that will provide support for Sydney’s long-term economic and population growth. This project will provide a western bypass of the Sydney CBD. It has widened the M4 between Parramatta and Homebush, creating a way to bypass 28 sets of traffic lights on Parramatta Road and it will double road capacity along the M5 corridor with the New M5 underground tunnels running between St. Peters and Kingsgrove. the project will generate over 10,000 jobs both directly and indirectly.

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NorthConnex

To be completed in 2020, NorthConnex is a nine-kilometre tunnel that will link the M1 Pacific Motorway at Wahroonga to the Hills M2 Motorway at West Pennant Hills, removing around 5,000 trucks off Pennant Hills Road each day. It will be the longest and deepest road tunnel in Australia.

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Sydney Metro Northwest

It opened in May 2019 and it is a public transport link to the north-western suburbs of Sydney, that delivers a turn-up and go rail service that connects the suburbs of Rouse Hill and Chatswood.

Sydney Light Rail

It transports customers between Sydney’s Inner West Suburbs and Central and between the CBD and Randwick or Kingsford in the South Eastern suburbs.

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