The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterTue 19 Jul 16

Esplanade Snapped Up Creating Record For Norwest Business Park

View-20-v2-Interior-Studio-Office-FINAL-2000

Buyers have snapped up all available commercial workspaces in the mixed-use development Esplanade, creating a local sales record for Norwest Business Park in the process.

Marketed by PRDnationwide Norwest for development manager Capital Corporation, the 36 boutique workspaces in Esplanade have been sold for between $6200/sqm and $7500/sqm – averaging $6900/sqm – well above Norwest’s average of commercial rates of typically between $4500/sqm to $5600/sqm.

Esplanade proposes a diverse mix of 267 apartments across two residential towers 19 and 20 storeys in height with a host of resident-only facilities, three levels of boutique workspaces, waterfront dining and retail areas set on a significantly upgraded public boardwalk along Norwest Lake and about 400 metres from the Norwest station under construction as part of the Sydney Metro Northwest line.

Commercial buyers at Esplanade have been a mix of local professionals such as accountants, real estate agents and doctors, as well as investors.

Capital Corporation Managing Director Steve Grant is considered a pioneer of the Norwest Business Park, having delivered a $700M portfolio of 45 buildings in the area, and accommodated the workspace needs of more than 580 businesses, since 1990.

“We’re breaking sales records for Norwest only because Esplanade is offering businesses what they want: great location, integrated development with residential apartments and a dining precinct, as well as boutique workspaces,” he said.

“Businesses and investors obviously see the future value of the Sydney Metro Northwest railway line and the transformation of Norwest from a business park into a vibrant urban hub which has been kick started by Esplanade that brings the livework-recreation combination together so thoroughly.”
[urbanRelatedPost][/urbanRelatedPost]
The creative and urban workspaces at Esplanade can be designed to include exposed ceilings, polished concrete floors and outdoor rooms suitable for meetings or social work gatherings. Other features include communal meeting rooms and breakout areas.

The integration of high quality residential and boutique workspaces – coupled with lifestyle-driven elements such as waterfront dining – not only gives Esplanade a life after hours, it also brings a village feel to the workday that suits the business environment in Norwest.

PRDnationwide Norwest Director David Inkster said the majority of buyers were from the local market that recognised that Esplanade’s workspaces were a unique offering in a premium building with services and amenities not yet available in Norwest.

“There’s a social element to doing business in Norwest when the most productive meetings are often over a coffee or meal, making Esplanade - with its casual and formal dining options - the ideal workplace setting,” he said.

“And there really isn’t any other specifically-designed commercial workspaces in Norwest that come with a wintergarden overlooking the lake within a short walk to the station,” Mr Inkster said.

Excluding Council Chambers, there have been no new commercial buildings completed in Norwest since 2012. Esplanade is due for completion in 2019.

 

OtherRetailResidentialAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
View All >
Industrial

Centennial’s Paul Ford: From Vision to Industrial Vanguard

David Di Marco
Darwin Sentinel Industrial East Arm Deal hero
Industrial

Sentinel Property Expands NT Portfolio with $57.4m Buy

Phil Bartsch
Legal

Court Freezes Assets as $160m Property Scheme Unravels

Vanessa Croll
From Main Beach apartments to Southport towers, projects are frozen while receivers trace investor funds and builder cla…
LATEST
Industrial

Centennial’s Paul Ford: From Vision to Industrial Vanguard

David Di Marco
3 Min
Darwin Sentinel Industrial East Arm Deal hero
Industrial

Sentinel Property Expands NT Portfolio with $57.4m Buy

Phil Bartsch
2 Min
Legal

Court Freezes Assets as $160m Property Scheme Unravels

Vanessa Croll
2 Min
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/esplanade-snapped-up-norwest-business-park