The Sydney City Fringe office market continues to attract key creative and tech companies, as businesses increasingly seek flexible and creative work environments which service the Sydney CBD. Surry Hills continues to be the choice location with improved accessibility, a vibrant culture, and affordable options.
According to the latest CBRE City Fringe Office Market Overview (July 2024), Surry Hills is the largest fringe market with one of the lowest vacancy rates of all fringe areas at just 6.7%. This low vacancy rate reflects the strong demand for office space, driven by the area’s proximity to key health and education precincts and its appeal to technology and creative industries who will feed off the regeneration of Central Station, the light rail network and the coming completion of the Atlassian Tower.
The recent opening of the new Sydney Metro and the WestConnect improvements has further enhanced the appeal of the area. The improved accessibility now provides faster access to the wider Sydney region and will boost demand for office space in the more affordable fringe markets.
The CBRE report shows rental gap between Sydney’s City Fringe markets and the Central Business District (CBD) continues to demonstrate value for businesses with the current rental discount between Surry Hills and the CBD now at 38% with office rents sitting between $750/sqm and $1,000/sqm with strong leasing incentives or full fitouts being offered.
One of the standout properties currently available for lease in the Sydney City Fringe is 33 Foster Street, Surry Hills. The whole building is available for lease and exemplifies the high-quality offerings in the area, featuring a modern open-plan layout, abundant natural light, a full fitout and state-of-the-art facilities.
The property, being marketed by CBREs’ Fergus Bowen, has 439sqm across two floors together with north-facing rooftop terrace flooded with natural light & amazing skyline views together with a 4-car basement.
Located just 400metres from Central, the building represents a unique opportunity for businesses looking to establish a presence in one of Sydney’s most dynamic and sought-after markets.
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