[+] Industrial Revolution: The Making of Marrickville

Recently rated Australia’s second-coolest suburb, Marrickville blurs the lines between its industrial past and its urban future with craft breweries and bars, a thriving arts scene and an annual street festival. And more developers are moving into the trendy hotspot with an opportunity to capitalise on industrial land and its potential for rezoning and uplift as Greater Sydney grapples with housing affordability and supply issues. TOGA, Rebel Property and Braxton Capital are collaborating on a high-tech industrial, retail and storage mixed-use building, Made Marrickville, which recently won approval. The development will comprise 34 industrial workspaces, retail space, and 24 drive-up storage units, which would service the growing population in Marrickville, 7km south-west of the Sydney CBD. “The vision for the site has been realised in the approval,” Braxton Capital’s Andrew Donnelly says. “The site presented a rare opportunity to create a unique, multi-level industrial building in the creative precinct of Marrickville and also delivers an exciting piece of architecture. “Industrial land is scarce and prospective occupiers need spaces that cater for a wider range of uses. Demand is still very strong.” ▲ A render of TOGA, Rebel Property and Braxton Capital’s industrial, retail and storage mixed-use building, Made Marrickville. Colliers data shows the South Sydney market, which includes Marrickville, has been one of the best-performing commercial markets in the country over the past two years, supported by several significant infrastructure projects, a lack of developable land and high levels of demand from occupiers looking for central accommodation. In the 12 months to June 2022, prime industrial rents increased by 20 per cent, which was above the Sydney average of 16.6 per cent over the same period. Colliers director of industrial Nick Mallett says the approved project would create a “new benchmark in creative industrial product” in the region. Mallett says the development will provide a true mixed-use offering with creative spaces, industrial and commercial, as well as retail and storage. “It’s not just an industrial estate, but a vibrant business hub,” Mallett says. “There has also been a large emphasis on ensuring the product is high-end to attract creative users within the precinct whilst also ensuring the development is still highly functional for more traditional users as well. “Businesses within the creative industries as well as your classic tradespeople, e-commerce, creative office users, ground floor retail occupiers, food industries, micro-breweries and many more. The point of this estate’s design and location is that it encapsulates such a wide range of users who can benefit from running their business there.” New metro rail stations are slated to open in 2024 at Sydenham, Marrickville, and Dulwich Hill and a new metro west station has been planned for Ashfield. ▲ Astute Property’s 39-apartment Kindred, completed in 2019. Now Astute Property has launched Mosaic, a similarly boutique block of 43 apartments and four retail tenancies, 80m down the road from its first offering. Marrickville is home to about 26,000 people but this number is going to ramp up with plans for higher-density development in the Inner West Council area. High-density housing is currently concentrated along the train line and key corridors including Parramatta Road, Victoria Road and along Sydney Harbour. As part of the proposed new conglomerated local environment plan and development control plans for the region, the Inner West Council had proposed for higher density rezoning in key areas of Dulwich Hill, Marrickville and North Ashfield. However this planning document has been put on ice after significant community kick-back. ▲ A render of the Made Marrickville project. The plans were for eight-storey buildings along Illawarra Road and Petersham Road, with urban pockets that could accommodate up to 12 storeys. The Inner West Council was approached for comment but did not provide a response to questions regarding the vision for “Sydney’s coolest suburb” (which was only outdone nationally by Melbourne’s Fitzroy in a global index of the 51 coolest neighbourhoods. Brisbane’s Fortitude Valley also made the list at 47). The council website says the consultation is on hold. “The council has halted all work on the housing studies in Dulwich Hill, Marrickville and North Ashfield, following a unanimous council resolution at the council meeting on 13 September to halt the process,” the statement said. “Councillors played no role in the preparation of those studies and were not briefed on them prior to their release. The council is waiting for advice from the NSW government on how the government’s mandated housing targets can be considered across the whole LGA not just in these three locations.” The council is awaiting advice from the NSW government on whether it can decentralise its housing targets and disperse the density across the council region. You are currently experiencing The Urban Developer Plus (TUD+), our premium membership for property professionals. Click here to learn more.

[+] Industrial Revolution: The Making of Marrickville

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