Retail in Asia

In Shops

The dynamics of retail leasing in the Sydney CBD

Sydney retailers are set for a new round of musical chairs as they jostle for space as part of the NSW Government’s move to buy properties for preparation of the planned Metro stations.

This will see a number of key tenants looking to relocate before the wrecking balls demolishes the buildings, in which they lease the ground floor.

In November, the NSW Government announced that it will buy up to 20 commercial buildings in Sydney as part of its plan to roll out six new train stations across the city. Tiffany & Co, will be one of the major names impacted as it leases the prominent site at 39 Martin Place, which is owned by DEXUS Property.