Creative demand

The demand to lease and buy creative office space in Sydney's inner-west and south has underpinned increased activity across the metropolitan market, according to agents.

The demand to lease and buy creative office space in Sydney's inner-west and south has underpinned increased activity across the metropolitan market, according to agents.

One area has been at Birkenhead Point's commercial space, and at Coogee in the south.

The senior commercial sale and leasing negotiator at CBRE, Nick Sinclair, said transaction activity was up significantly over the past few months, with the recently refurbished offices at 19 Roseby Street, Drummoyne, close to fully leased.

"We have leased about 2400 square metres of creative office over 12 deals since January this year, with another 1032sqm under offer to seven tenants, leaving only 100sqm of vacancy," Mr Sinclair said.

"The ... demand currently being seen in this sector of the market is reflective of the shortfall of quality creative space in this area of Sydney."

The largest deal at the Roseby Street property this year was the leasing of an 830sqm office space to Redcape Hotel Group.

At Coogee, CBRE's Daniel O'Brien and Olivia Skinner recently sold a Commonwealth Bank branch for $5.59 million.

The property at 199 Coogee Bay Road was bought by a private buyer.

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