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City investment development reaches $430 million

Artist impression of the new expanded Crown Central at the corner of Crown and Keira Streets Wollongong.

Artist impression of the new expanded Wollongong Central at the corner of Crown and Keira Streets Wollongong. PHOTO: Wollongong Central.

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.

The Wollongong Central development site.

The Wollongong Central development site.

“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.

About Mick Roberts

A newspaper journalist, writer and local historian, Mick Roberts specialises in Australian cultural history, particularly associated with the Australian hotel and liquor industry. Mick has had an interest in revealing the colourful story of pubs, inns and associated industries in the Sydney and Illawarra regions of NSW for over 30 years. He is currently working on a comprehensive history of the hotel and liquor industry in the Illawarra region of NSW. Besides authoring a number of history books, Mick has owned and operated several community newspapers. He was one time editor of the Wollongong Northern News, The Bulli Times, The Northern Times, The Northern Leader and The Local - all located in the Wollongong region. As a journalist he has worked for Rural Press, Cumberland (News Limted), Sydney based, City News, and is now with Torch Publications.

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