WOLLONGONG City has seen investment of more than $430 million in construction works that have begun or been completed in the past 12 months.
Wollongong has been using its unique location and competitive advantage to attract commercial and residential development to the City CBD.
Wollongong City Council economic development manager Mark Grimson said the campaign to attract businesses and government agencies to the city has been productive with a high volume of investment in commercial and residential development in its CBD.
“We are seeing this development coming on line now and with the rollout of the NBN in coming months we expect that the benefits of relocating or establish a business in the city to be even more attractive,” Mr Grimson said.
“Following the success of Advantage Wollongong’s talks at NSW Parliament House last year we have been able to explain the competitive benefits of Wollongong as a great place to live, work, invest and do business.
“NSW Minister for the Illawarra Greg Pearce has recently called for expressions of interest for a new SES headquarters in the region. This is further evidence of the benefits Wollongong offers as an ideal place to relocate government agencies.”
Some of the larger developments in the city include:
- GPT Crown Central expansion
- ATO Office under construction at 45 Kembla Street
- The development of the former Dairy Farmers site, Gladstone Avenue, Wollongong
Wollongong has a number of commercial ready sites, and the four largest have approved office developments which would add a combined 53,000sqm of office space to the city centre.
“Wollongong also maintains an economic advantage with Wollongong’s average A grade office space costing $380 per sqm per year compared to the next closest in price at Parramatta at $470sqm per year.”
Wollongong Council’s Crown Street Mall refurbishment, the $200 million GPT Wollongong Central expansion, the early roll out of the NBN and free City Centre Wi-fi will further enhance the potential of the city.