Property investors given birds' eye view of Wollongong office market

Organised by the Property Council of Australia, the tour took investors from the heart of Wollongong's CBD at the newly opened Lang's Corner building, to the city's expanding fringes at Shell Cove and Tullimbar, before visiting the Illawarra's economic engine-room at Port Kembla.

Kicked off by Wollongong City Council economic development manager Mark Grimson, attendees were introduced to the commercial property pipeline for the Illawarra, with 30,000 square metres of recently completed A-grade office space and another 50,000 sqm approved.

Mr Grimson said Wollongong was positioning itself as an alternative CBD location, for businesses looking for their second or additional home outside of the Sydney CBD.

"Look at Wollongong instead of Parramatta, North Sydney or Macquarie Park."

Along for the ride were project director Caroline Choy and senior development manager Justin Ibrahim of Stockland.

With Stockland already having a significant presence in the Illawarra, including at Shellharbour City Centre and Forest Reach in West Dapto, the pair said the opportunity was to see what was next for the Illawarra.

"For us it's a day to come down to see what the future opportunities are in Wollongong and the Illawarra-South Coast," Ms Choy said.

While Ms Choy was not yet ready to say whether Wollongong was at a similar level to Sydney's other CBDs, she said the business hub of the Illawarra would need to compete on location and accommodation options with other Sydney hubs.

Property Council regional director Michelle Guido said interest from further afield would be driven by new office spaces opening in the Wollongong CBD.

"With high end commercial offerings coming online, we are excited to see increased business attraction and investment continue in the CBD."

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