Oxford Street to undergo makeover
Sydney's Oxford Street is set to be revitalised under the city council's plans to revamp ...
Sydney's Oxford Street is set to be revitalised under the city council's plans to revamp the boutique shopping hub and tourist destination - potentially attracting commercial property investment into the area.
Lord mayor Clover Moore said the City of Sydney was committed to improving the iconic strip, making a number of improvements to Foley Lane to draw in more visitors and benefit local businesses.
"Oxford Street has long been a drawcard for Australian and international visitors, with design shops, fashion designers, arthouse cinemas, iconic book shops, heritage buildings, markets, creative business and performance venues," the mayor remarked.
"The city is committed to Oxford Street as a healthy and competitive precinct that will invigorate the local economy and provide thousands of jobs over time."
With the area set to undergo a major makeover, property investors looking for commercial real estate in one of Sydney's prime locations may be interested in the Oxford Street area.
Ms Moore said one of the biggest improvements earmarked for Foley Lane would be the changes to delivery and loading in the area, which have frustrated business owners for some time.
"With their encouragement, we're establishing a shared zone for residents and commercial vehicles, opening up buildings for creative ventures and attracting galleries and dining outlets," she added.