Bad news for buyer in the Broadway, Sydney, development

[depreciator]

They couldn't find commercial tenants so a couple of the buildings will be student accommodation.

That's going to lower the tone of the place.

Nice looking development, so far, though. I had a wander around there the other day.

http://www.smh.com.au/nsw/uni-stude...baulk-at-old-brewery-site-20130514-2jkkq.html

 

[chilliblue]

They cannot find commercial tenants because they are not answering their emails or telephone messages.

I have 2 clients who tried independantly to contact the developer and agent with no luck.

I tried on their behalf for a month and again no reply.

You have to cynically think that this may have been a plan from the developer rather than "the market dictates".

 

[depreciator]

Possibly. With UTS right across the road they certainly have a ready supply of tenants.

 

[Savanna100]

Residential uses would certainly return more at that end of town. Office space is more viable the closer to the Quay you get.