1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar




Property News

Finance workers 'changing the use' of commercial space in Sydney

November 29, 2011

Workers in the finance sector in Sydney gravitate to cafes and restaurants as places where they can carry out some parts of their work, according to a new paper to be presented at the Australian Cities Conference, which will be held next week at the University of Melbourne.

The paper was produced by Dr Richard Hu, an urban planner at the University of Canberra who spoke to the Sydney Morning Herald about his work.

Hu has been studying commercial space in Sydney over a 15-year period and suggests that the growth of the finance sector is changing the way it is used.

He told the publication that Sydney is transitioning to an "experience economy" and the trend toward open-plan offices and mixed-use space is evidence of this.

''The line between the work environment and leisure environment is blurred and that is a very significant change for Sydney,'' he said.

According to his findings, the amount of floor space used by workers in the finance and business services sector has increased, in part because of the exodus of government and public administration workers to suburbs beyond the CBD, as well as outlying areas beyond the NSW capital city.

Cities like Sydney need to do more to encourage creative thoughts and actions, said Charles Landry, co-developer of the Creative City Index, earlier this month.

Landry told a crowd at the State Theatre that spaces designed to foster creativity could lead to better innovation in terms of business, science and the arts.

He said: "Creativity has implications and applications in all spheres of life and is not only the domain of artists or those working in the creative economy or scientists but also social innovators, forward-looking business people or anyone who can solve problems or create opportunities in unusual ways."



Related Articles

Tight conditions in Sydney rental market

The vacancy rate in the Sydney rental property market has continued to drop even further, creating ...
read more

Sydney CBD infrastructure set for upgrade following anticipated population growth

Property investment opportunities are likely to increase as Sydney receives infrastructure upgrades ...
read more

Darling Harbour makeover may attract investment

Commercial property investors looking to snap up property in Australia's biggest city may be ...
read more

Latest Articles

Support for Sydney businesses aims to improve the city's economy

Sydney's new Economic Development Strategy has been backed by businesses across the city, with ...
read more

Western Australian economy continues to grow

The State of the States report released by Commsec late last month (January 17) has ...
read more

South Australian export growth good news for potential investment

South Australia could be a great location to consider purchasing investment property in over ...
read more