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Property News

Injecting life into Sydney's night scene

June 27, 2012

A radical transformation of Sydney's night scene will stimulate the city's economy by making it a top destination among tourists and shoppers.

The City of Sydney revealed its plans for Australia's first 24-hour library, later trading hours, and a White Night festival for museums and galleries, in a move to boost the evening economy - benefiting the public and local businesses.

The development, which may attract the attention of businesses considering leasing or purchasing commercial property in the city, would see Australia's largest night-time economy surge ahead into the international ranks.

Extended trading hours and more eateries in the city will boost revenue for local businesses - including those with stakes in Sydney's commercial retail property which have experienced languishing sales in recent times.

Sydney lord mayor Clover Moore said while Sydney boasted a wide range of activities and shopping choices during the day, it didn't correlate with evening options.

"Residents have told us they'd like to see these choices extended into the evening, making our city an exciting after-hours destination that will greatly benefit our night-time economy," Ms Moore said.

To capitalise on the existing $15 billion that after-dusk visitors inject into the Sydney economy annually, the city's overhaul will increase evening-based attractions, activities and dining options.

Ms Moore said: "People want more restaurants and outdoor eateries, more concerts and events and more museums and art galleries opening late."

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