Rebuild of the iconic Manly Emporium shows commercial property is on the rise in Sydney

 

All we’ve heard recently from the media is that the Sydney property market is weak across every suburb and every sector.

However, something big on the rise at Manly begs to differ.

We’re excited to announce a phenomenal rebuild of the amazing Manly Emporium – the iconic building situated at 6 The Corso and 50 East Esplanade within the beating heart of Manly – breathing new life into the Sydney retail and office property market.

Commissioned by the prestigious Aspiring Properties due to a surge of demand for new commercial property in Manly, the redevelopment will include retail and business spaces, accessible from the popular Corso Mall and East Esplanade.

Manly is typically known as a tourist hotspot. However, a lot of businesses, retail shops, eateries and start-ups have all started to flock to the area to embrace its high foot traffic, metropolitan culture and breathtaking coastal views – all ideal attributes for business and lifestyle alike.

 

Because of this, Manly has seen an uplift in commercial real estate.

At Upstate, we estimated that current retail and commercial vacancies in Manly are below five per cent, which is much lower than other areas such as the Sydney CBD. This challenges the perception that the Manly commercial property market is struggling.

While there are challenges in property across Sydney, Manly still appears to be quite vibrant and coveted as a suburb due to all of its characteristically defining features.

The new Manly Emporium will be a prestigious, refurbished, state of the art building, with heritage features and quality finishes, ideal for those who want a stylish and flexible office close to the beachside.

Like most properties in the iconic suburb, the Manly Emporium comes with a fascinating history. It was one of the earliest allotments to be sold on the south of The Manly Corso, originally designated as Victoria Park in HG Smith’s plan for Brighton.

Today, it’s a relatively intact example of an early 20th-century department store of which no other distinct examples remain. The upcoming project will see the Manly Emporium completely redesigned, with the historical façade retained and restored to its former glory.

Set along the thriving pedestrian mall that is The Corso, the upcoming reinvigoration of the Manly Emporium is an undeniable sign of the resilience of the retail and commercial property space in Sydney’s Northern Beaches.

Commencing early 2020, with an expected project timeline of around 18 months, the Manly Emporium will be one of the first, brand new, custom-built commercial premises in Manly for over 10 years.

This truly is a golden opportunity for businesses of all sizes and industries to capitalise on visibility in a thriving hot spot, only a few minutes’ walk from the Manly ferry.

 

Take advantage of retail and commercial growth in Manly

Huge opportunities exist now at this major welcoming point to Manly.

The ground floor offers tremendous potential for a dynamic retailer or food and beverage operator, looking for a trendy location within a thriving community.

While aspirational operators, including co-working spaces, service providers, Bluechip corporates and start-ups, will find their ideal spacious offices on the upper floors.

Escape from the hustle of the CBD to the relaxed and easily accessible, balanced working lifestyle of Manly’s beaches.

Click here to view the property online.

For more information, give our Commercial Real Estate professional, Vincent West, a call on 0403 444 000 or email him at vincent@upstate.com.au.

Vincent will help you with everything you need to know.

We look forward to chatting with you soon.

 

Signing off (and always here to help),
Your local Upstate team