There’s a lot happening in our neck of the woods. Here are some highlights.
Sydney Fish Market redevelopment
The Sydney Fish Market redevelopment is well underway and we can’t wait to see it open when finished. The redevelopment will bring an updated and modern style while keeping the traditional seafood market experience Sydney-siders have come to know and love.
There have been a number of site access changes for recreational boat users. The public drop-off pontoon outside the markets has been closed and relocated to the timber wharf near the carpark entrance ‒ approximately 200m away. There are currently works happening to ensure the wharf is safe, including the installation of a pedestrian pathway (with lighting and security). These works are scheduled to be completed this month, with both the pontoon and access to the Market reopening via the harbour for recreational vessels.
Cockatoo Island concept plan
With the consultation period on the Cockatoo Island concept plan closed earlier this year, it is good to note that community concerns were taken into account. Feedback to the Harbour Trust included:
- Seeing the island’s history respected and celebrated and welcoming to First Nations Peoples
- Enhancements that allow visitors to learn about First Nations culture through economic opportunities, use of language, ceremonial space and cultural programs
- Restoration of Fitzroy Dock for operational use
- Experiences that allow visitors to be immersed in the Island’s history
- Space to explore the history of the island including as one of Australia’s 11 significant convict sites on the UNESCO World Heritage List.
The Harbour Trust is currently at the stage of investigating feasibility of the feedback in the Consultation Outcomes Report.
NSW Government sells final stake in WestConnex
In September, the NSW Government announced the sale of its stake in the WestConnex underground motorway scheme had been finalised. Sydney Transport Partners (STP) purchased the two 24.5% stakes for $11.1 billion. The sale follows the launch of the process back in November 2020.
The proceeds from this final sale will be invested into the New South Wales Generations Fund and used against an equivalent amount of debt.
The purchase of the 49% stake now means that Transurban, as part of STP, has 100% ownership of WestConnex, after purchasing the initial 51% in 2018.
The final section of the WestConnex motorway is due to open in late 2023.
New Bays West development strategy
On November 15, the NSW Government finalised the Bays West transformation strategy. The area that comprises Rozelle Bay, Rozelle Rail Yards, White Bay, Glebe Island and White Bay Power Station will ‘evolve over time into a mixed-use precinct that is an innovative and sustainable new place for living, working and recreation’. You can read more on the Bays West strategy here.
Dawn Fraser Baths open
Australia’s oldest harbourside pool, and one of the most spectacular places for a swim, the Dawn Fraser Baths are back open after an extensive renovation. Home to the Balmain Swimming Club and the Balmain Water Polo Club, the Baths are an amazing spot to join in a fitness class and swim for fitness or fun. Keep up to date with Dawn Fraser Baths through the Inner West Council website.
Can we help with your Inner West home?
Inner West property values are still steaming ahead, with a median 22% growth in the last 12 months across the Inner West as a whole. Buyer interest has come back into the Sydney market and prices are expected to continue to grow over the coming 12 months at least.
Whether you’re ready to sell or need help to rent your investment property, we have the experience and local knowledge to make your property journey easier. We’d love to help you with buying or selling on the Balmain Peninsula.
Looking for help selling your home or renting your investment property? Our team at Belle Property Balmain support homeowners across Balmain, Balmain East, Birchgrove, Rozelle and Lilyfield. Feel free to get in touch for a no-obligation discussion or property appraisal.