NSW Redfern update

A lot of development coming to Redfern and near to Redfern:-

(1) Surry Hills mall to be redeveloped by the Toga Group commencing end 2018 (170 units + Coles lead tenant)

Developer’s Plan for 170 Units at Surry Hills Closer with Rezoning Approval

(2) 14 storey high inner city high school corner Cleveland and Chalmers Streets (in Prince Alfred Park)

New inner Sydney high-rise school for 1200 students revealed

(3) Housing Commission redevelopment opposite Redfern oval in Elizabeth Street (first cab off the rank)

Elizabeth Street Redfern - Department of Planning and Environment

(4) Redevelopment of The Block

The Pemulwuy Project - Department of Planning and Environment

(5) Light rail in Devonshire Street Surry Hills

Stepping out in Surry Hills | Sydney Light Rail

 

Inner Sydney. .. go go go!

I have a property in the general area... longer term owners reckon that 5/10 years ago or so it was a lot rougher.
Area gentrification indeed....

 

Yep. I lived in Redfern 10 years ago. Was tougher. But very liveable. Loved it. Now it’s filled with smashed avocado and latte.

 

I really don't think it's going to increase any more than it is now.

A guy I worked with in my previous job purchased a studio apartment there last year for about 600k. It was one of the newer builds. He is mid-20s and probably making about 60k or so (graduate job). He can't afford to live in it so will be renting it out while he lives at home for about 10 years and will then move in. I felt sorry for him to be honest

 

Studio for 600K. Wow.... a very smart decision indeed. How much that studio is worth now? $605K? One bedroom is worth $700. Not sure he paid the right price.

 

I found it online and it was advertised as a 1 bedder but it had only one-third of a wall in the bedroom so it's really a studio. Doubt the value has changed - it was purchased mid last year

 

$600k for a studio.... too much.... I hope it has some redeeming qualities

 

Redfern is my hood! So much has changed for the 4 years! have been more than a couple dozens of new cafes, restaurants and trendy bars opened within the last two years alone. To add one more to the list is the metro line and station is under construction. it will be huge change for the better around the Waterloo area.

 

my guess it is purchased of the plan. it will be a long time before that breaks even.

 

Pretty significant applications for changes to the Locomotive Workshop bays (in addition to the current ATP redevelopment). Including supermarket/retail outlets, gymnasium, additional office space and travelator.

Also have a property pretty much adjacent to the ATP. Was initially keen on the added convenience to amenities, but am now concerned it's so close that all the added foot traffic may become an inconvenience, lol. No short-term plans to move into it though.

Bays 1-4a, Locomotive Workshop
Bays 5-15, Locomotive Workshop

 

Awesome area - nearly bought there to live.

As an area to raise kids, I was a little turned off by the concentration of housing commission and druggy low lives, but the area continues to gentrify and just has a lot going for it.

It will be interesting how this area performs in the next 5-10 years - it's very very popular.

 

True. There's just a portion of Redfern I'm uncomfortable with. (A part with a number of high rises). The rest of the area... no problems.

 

Waterloo HC towers are going SO Redfern may clean up as well

 

A few images including plans for buildings to 32 storeys high on housing commission areas and buildings over railines at Central

 

They have been talking about selling the “airspace “ above lines for a while now. Interesting to see it is progressing to next stage. Wonder though if builders will be as keen as about a year ago with the softness in the market.

 

Surry Hills - Toga Apartments – Toga Group

FAQs - Surry Hills Shopping Village Proposal

We’re for Sydney | Daily Telegraph

New inner Sydney high-rise school for 1200 students revealed

 

https://info.deicorpproperties.com.au/tnt-apartments/?utm_source=google

 

Kicking myself I didn't buy a terrace house or three there in the early 2000's when they were just a few hundred grand each.

But yes it's definitely changed. Back in the day the locals used to call it Redferno. Because when they told people they lived in Redfern people would say oh.

 

Redfern has always been in a great position geographically and poised to take off. Eveleigh St (the block) and the Waterloo Housing Commission towers were the biggest suppressant to property values IMO.

Now it seems the Waterloo HC towers are being re-developed and Eveleigh St is pretty much sorted. Check out Henry Lees Cafe and you'll see what I mean (the food there is great BTW). It wasn't that long ago that this was a no go zone for the average unarmed pedestrian...

 

That area was definitely a no go zone. had coffee and a meal at Henry Lee and the place is pretty trendy and the food was great!

I did my degrees in Usyd during the early 2000s and we normally have to take security bus to Redfern station in the evening because no one dares to walk there even in groups. Just recently I drove through the area pretty late at night and seen a female student stroll slowly towards the station by herself without a worry in the world, what a huge contrast. On the Abercrombie St. there are also a few rather nice cafes open there recently.