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Cbd Case Study

Decent Essays

The super prime retail precinct in Sydney’s CBD, specifically Pitt Street Mall, is generally regarded as the premier retail precinct in New South Wales and indeed, Australia. However, the rents achieved by Westfield and Lend Lease in their respective Sydney CBD developments must be considered in context in so far that these leasing’s have been heavily subsidized with incentives such as fit-out contributions. Further and as a result of the aforementioned developments in 2009 and 2010, there was an artificially high level of demand for retail space and corresponding low supply rate as displaced retailers sought out short term opportunities to lease accommodation whilst Westfield Sydney and the Mid City Arcade were

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