South Sydney in High Demand

Sydney, Australia, May 06, 2009 --(PR.com)-- With the $1 billion Port Botany expansion program underway, companies are rushing to secure office space in South Sydney, according to Colliers International.

Brent Dawson, Manager of Investment Sales and Office Leasing at Colliers International – South Sydney, said the port-related industries are taking advantage of the office space available, with 2500 sqm of leasing activity currently occurring for existing buildings.

“Many companies are upgrading to better quality office space while Port Botany is under development,” he said.

“It is a strategic approach to developing their businesses, taking advantage of current availability before the expected increase in trade and competition when the port is completed in March 2011.”

Singaporean-based cargo agency, GSA Australia, expanded to a 400 sqm space at Bayview Tower, 1753 Botany Road, Banksmeadow, which was a strategic position as it’s located very close to the Port, according to Mr Dawson.

Synergy Business Centre has leased 600 sqm at 17 Lord Street, Botany and Mr Dawson said the additional 600 sqm in the building is under negotiation to a port-related business.

“Companies are repositioning themselves as the region develops from traditionally industrial to better office space as more commercial opportunities become available,” said Mr Dawson.

“The days of having a portable shed at the back of a warehouse for office accommodation are gone.”

Port Botany is Australia’s second largest container port with more than $40 billion in trade each year. The expansion program is one of the largest infrastructure projects ever undertaken in Australia and trade is expected to double by 2020.

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