Darling Street Buzzing Again
The Darling Street retail strip which runs through the heart of Rozelle and Balmain in Sydney’s inner west is back in business, according to Ray White Commercial Inner West.
Ray White Commercial Inner West Principal Tim Morrison said the agency has leased more than 20 shops in Balmain and Rozelle so far this year and the precinct is thriving once again.
Tim Morrison said a variety of businesses had set up shop in Darling St this year with one of the major leasing deals involving a move by national furniture store business Matt Blatt into four retail premises at 244-250 Darling St.
“Balmain is back,” said Tim Morrison, who has been recently named as an Alan White Elite Performer, recognised in the top two per cent across the Ray White Group’s agents throughout Australia and New Zealand.
“After a few years of a large number of vacant retail premises, there has been a significant turnaround this year in Darling St.
“We have leased more than 20 properties so far this year which is the most active I have seen the leasing market in Balmain for many years with virtually no vacancies.
“Among the new tenants is Matt Blatt – a successful national retailer and Australia’s go-to destination for exciting inspirational, iconic and unconventional furniture, lighting and homewares with eight showrooms spread across the country.”
Tim Morrison said IT companies, barbers and hairdressers, food stores, clothing outlets, music shops and also a number of bars made up the conglomerate of new tenants in Darling St.
He said one of the reasons for the Darling St revival was some local council initiatives such as easing parking restrictions for shoppers.
“There has certainly been some recognition from council that the precinct was in need of some assistance,” he said.
Tim Morrison said easing rental prices and incentives had also helped to attract tenants.
“Darling St is a busy retail strip again with high pedestrian and vehicular traffic and it will always be a popular area being close to the Sydney CBD with quick and easy access to the major commercial hubs along Victorian Road and City West Link,” he said.
“We have investment opportunities available offering highly attractive yields.”