LIVERPOOL POISED TO BECOME SYDNEY'S NEXT CBD
Written on the 7 June 2016
WITH Parramatta almost bursting at the seams, Liverpool has been hailed as the next commercial centre of south-west Sydney, according to CBRE.
The real estate company says the region is in a state of transformation, with booming population growth and strong development pipeline pushing Parramatta close to capacity.
CBRE Western Sydney agent Thomas Mosca says Liverpool has all the hallmarks of becoming the future capital of Sydney's south-west amid several new projects in the area, sustained population growth and low employment.
"The current rate of growth in Sydney's south-west is unsustainable," Mosca says.
"We're already seeing Parramatta experiencing extremely tight vacancy levels in the A-grade market, while future development potential enabling business growth looks limited.
"Whereby Liverpool offers a large development pipeline, healthy employment prospects and excellent transport connectivity - all of which are supported by an already established and growing population."
About 75 per cent of Liverpool residents leave the area for work each day, highlighting the need for more local employment opportunities.
Council announced plans to rezone half the commercial core from B3 Commercial to B4 Mixed Use, resulting in a number of new developments including universities, local government and multi-national organisations.
Mosca says the mooted extension of the metropolitan train line would further position Liverpool as the powerhouse of Sydney's south-west.
"Liverpool has the potential to become the region's major transport interchange, with a number of proposed works set to make it one of the most connected and accessible suburbs in the south-west," he says.
Proposed transport works include the extension of the metropolitan line from Bankstown to Liverpool making it just a 35-minute journey from Liverpool to the CBD and four train tracks at the new Badgerys Creek Airport.