Quality trumps quantity in North Sydney’s office ‘bloodbath’

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With a building boom under way, North Sydney’s office sector is facing a risk of oversupply. But the big developers say the post-pandemic market is turning in favour of their projects.

Developers Lendlease, GPT, Stockland and Billbergia are confident their next generation of office towers in North Sydney will prosper despite a record surge in new supply that has sparked warnings of a “bloodbath” in the booming market.

It is a similar story for the Parramatta market, according to the Property Council of Australia’s records. last week. Most concern was focused on North Sydney, which is facing a “bloodbath”, according to Charter Hall managing director David Harrison.

Source: News Formal (newsformal.com)

 

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