News

February 08, 2017

Victoria Street, Potts Point – Suburb Highlight

How one little corner of Potts Point is evolving in to something new


From Closed signs to launch events, culture to property and 32 to 207 Victoria Street, a lot has changed in recent times in this busy mixed use corner of Potts Point. Business owners, investors and customers alike are coming together in new ways, increasing the value of the street and changing it’s culture as we know it.

MARCH 2017 SH 05 Victoria Street Potts Point Gentrification SydneyLinks Real Estate Soho.jpg MARCH SH 2017 03 Victoria Street Potts Point Gentrification SydneyLinks Real Estate.jpg

1. Now closed and awaitng development, Soho Bar at 171 Victoria St, Potts Point.  2. The new boutique office of SydneyLinks Real Estate at 194 -196 Victoria Street, Potts Point.
 

Soho Bar was a landmark to the area and closed in the height of the gentrification brought on by the NSW lockout laws. The close came as the owners considered the success of the business in light of the changing demographics of the street and surrounds. Developers Phil and Harrison George plan to, “transform the site into retail space for shops and restaurants along with office space.”

Being such a busy mix of land use and culture, the community in the area has welcomed new change of recent times. The number of businesses that have closed and developments that have sprung up are scattered throughout the street. The biggest closure to Victoria Street, with the biggest impact, has been Soho Bar.

Soho Bar was a landmark to the area and closed in the height of the gentrification brought on by the NSW lockout laws. The close came as the owners considered the success of the business in light of the changing demographics of the street and surrounds. Developers Phil and Harrison George plan to, “transform the site into retail space for shops and restaurants along with office space.”

MARCH 2017 SH 01 Victoria Street Potts Point Gentrification SydneyLinks Real Estate Butler.jpg MARCH 2017 SH 02 Victoria Street Potts Point Gentrification SydneyLinks Real Estate Society.jpg

3. Popular, The Butler at 123 Victoria St, Potts Point (image: butlersydney.com.au).  4. New Society Di Catania at 186-188 Victoria St, Potts Point (image: societypizzeria.com.au).
 

In the time since the NSW lockout laws were introduced, Victoria Street is progressively transforming. The very popular and upmarket Butlers Restaurant at 123 Victoria Street has become a new face of the suburb and community with it’s contemporary menu and beautiful interiors. A newer food spot growing in popularity is Society pizzeria, bar and restaurant at 186-188 Victoria Street.

Culturally there is a mix of services and a clean up to the tourist areas of the street. Although the street-side car market has gone, the back papers remain in the accommodation along the street and now blend with the residents and professionals working in the area. The opening of the Stacks Projects gallery space has been welcomed by residents who enjoy the new upmarket establishments setting up in the street.

MARCH 2017 SH 04 Victoria Street Potts Point Gentrification SydneyLinks Real Estate Stacks Projects.jpg MARCH 2017 SH 06 Victoria Street Potts Point Gentrification SydneyLinks Real Estate Omnia.jpg

5. A contemporary addition to the area, Stacks Projects gallery at 191 Victoria St, Potts Point (image: stacksprojects.com).  6. The highly anticipated Omnia development (image: omniapottspoint.com.au).
 

Development wise there is lots to see. The Omnia development at the start of Victoria street is attracting a rush of investors. “Local and international buyers are keen to buy in this soon to be landmark property. We have particular interest from Chinese investors,” says SydneyLinks Simon Hohnen.

Continuing down the street we have a new property development at 190-192 and the promising Spicers Retreat created by Queensland richlister Jude Turner and husband Graham “Scroo Turner” at 122 Victoria Street, opening in June 2017.

SydneyLinks’ director Trisian Muljono says many properties in the street have made huge profits in the last 12 months, “A 3 bed with no car space at 1/194 Victoria street has increased hundreds in rental return to $1150 a week”, she says.

SydneyLinks sales history can be obtained by contacting SydneyLinks 02 8302 3000.

 

 


The SydneyLinks team
194 -196 Victoria Street Potts Point NSW 2011
02 8302 3000