Dee Why is among the jewels of Sydney’s Northern Beaches.
While most people immediately think of the stunning beach at Dee Why, the town centre is a great place that has recently benefitted from a significant upgrade by Northern Beaches Council and PLACE Design Group.
In fact, the 20-year Dee Why Town Centre Master Plan was recognised as the “Best Planning Ideas (Small Projects)” by the Planning Institute of Australia in their 2013 NSW Awards for Excellence.
After a number of years of planning and construction, the first stage of the town centre revamp, including the new $2.5million Redman Road Plaza, is now complete and being enjoyed by local residents.
“The core focus of this project was to provide an innovative, cohesive and sustainable vision for Dee Why. The aim has always been to kick-start Dee Why Town Centre’s renewal process and to encourage both private landowners and the community to respond positively,” says Director of PLACE Design Group, Darrell McLean.
The plans involved extensive streetscape improvements, including new trees, paving, water features, and landscaping.
Artist’s Impression of Redman Road Plaza
Deputy General Manager of Northern Beaches Council, Ben Taylor, believes the upgrades will have a significant impact on the local community and economy.
“By creating an attractive, must-visit location this project will transform Redman Road into a welcoming and vibrant pedestrian plaza that will generate local investment and promote social interaction,” Taylor said.
Impact on Local Property Values
The revitalisation of Dee Why’s town centre, is already having an impact on local real estate prices, particularly those commercial properties that front the revamped Plaza.
Recently, a freestanding commercial building at 10 Fisher Road, on the corner of Redman Road Plaza, sold for a stunning $4.5million.
The iconic building, known locally as Dan’s Corner, is home to five retail premises and 10 offices. Tenants include Dee Why Florist, a popular café, hairdresser, minimart, and butcher.
While the 853-square metre building dates from the 1950s, it has remained tightly held by the Pappas family since 1980.
A private investor from the Northern Beaches purchased the building, which he plans to retain as a tenanted investment, according to Vincent West, Upstate’s Head of Commercial and Industrial Division.
Superbly positioned to take advantage of the newly upgraded commercial precinct, any investor could see the prospects for long-term asset appreciation from such a property.
“The improvements to the plaza include an elevated lighting structure that will enhance its ambience at night, along with hanging gardens, seating and an attractive water feature, providing an inviting, pleasant area to shop and work. The upgrades will increase the charm of the newly developed plaza area and will be sure to deliver excellent long-term income and growth returns to the new owner of 10 Fisher Road,” according to West.
How Upstate Can Help You
The team at Upstate has unsurpassed expertise in Sydney’s Northern Beaches. We understand the local suburbs, including infrastructure upgrades that are in the pipeline.
This level of knowledge, stemming from decades in the local area, is what you need to identify future commercial real estate opportunities.
We can help you locate the ideal property that will likely experience strong long-term growth – so contact us today to find your next commercial investment!