The Central Business District (CBD) of Sydney needs to adopt a greater Asian focus to improve the liveability of the city centre. According to the report, around 2,700 residential units are forecast to be completed in the next five years, which will add approximately 5,700 persons to the CBD resident population – equivalent to 20% growth. However, it is the structure of that growth that also needs to be considered.
Although Sydney ranks highly in the plethora of city liveability indices, this is mainly predicated upon its comparatively low density living which has been aided by the current retail hierarchy. Regional shopping centres satellite the CBD, replicating much of its offer, eroding the need for consumers to venture into the city, and consequently the focus on CBD retail and city centre liveability has slipped.
The rise in residential construction activity in the CBD casts the light back onto the city centre. As CBD living is on the cusp of a revival, CBD liveability needs to improve and the retail offer is a key component of this.