A new prospectus promoting the significant growth of Wollongong’s CBD and options for A-grade office space has been launched by Invest Wollongong.
Invest Wollongong is a partnership between Wollongong City Council, the NSW Government and the University of Wollongong, and focusses on assisting businesses and investors interested in Wollongong.
The new prospectus sets out the many benefits of setting up business in Wollongong and highlights the addition of 28,000sqm of A-grade office space that is either under construction or completed in the past two years. This represents a 36 per cent uplift on current stock levels.
“Wollongong is the perfect location to establish and grow your business, either for professional and shared services businesses looking to relocate or establish a satellite office, or for a start-up or scaleup to expand,” Wollongong City Lord Mayor Councillor Gordon Bradbery AM said.
“With the new office opportunities, alongside the other benefits our city has to offer in terms of work-life balance, culture, the arts and 17 patrolled beaches, Wollongong is a great place to do business.
“The city’s strategic location, superb liveability for employees, and supportive business community has meant many companies have already found success here. These include global software company Accelo, which started in Wollongong, and ICT solutions giant NEC, which has established a satellite office here.”
Some of the new, A-grade office stock in the Wollongong CBD includes:
- Gateway on Keira – 134-148 Keira Street, Wollongong;
- Avante Commercial – 3 Rawson Street, Wollongong;
- Lang’s Corner – 101 Crown Street, Wollongong (under construction); and
- IMB Bank Head Office – 47 Burelli Street, Wollongong.
There is also an additional 25,000sqm+ of A-grade office space in the future pipeline.
Cr Bradbery said the ongoing impacts of COVID-19 meant businesses may be re-examining business models and accommodation which put Wollongong in a strong position when it comes to potential moves.
“The research carried out for Invest Wollongong in the development of this prospectus found the city, in comparison to Sydney, Melbourne or Parramatta CBD, is up to 33 per cent more cost effective for a shared services operation,’’ he said.
“A key reason for this is the lower staff turnover rate we have in the city. Currently, it sits at less than half the national average and is at only eight per cent. This can be a major incentive to businesses, and our lifestyle is a significant draw for the workforce.’’
The Wollongong Office Market Prospectus was launched at an event on Friday, November 20, 2020.
