St. Leonards set for more high-end residential accommodation growth

May 16, 2018 by  

The suburb of St. Leonards on Sydney’s North Shore is set for a dramatic expansion in residential accommodation as more new developments come to the area.

Already a well-established commercial hub and medical district, an increase in the local population at St. Leonards could be a bonus for existing businesses such as stationery printers and corporate gifts firms.

St Leonards’ location just across the Sydney Harbour Bridge from Sydney’s central business district makes it a much coveted spot for home buyers seeking its mix of historic homes, new apartments and public parks. With residential developers JQZ and Mirvac unveiling upscale apartment complexes with a focus on creating community spaces, the area’s existing population of around 4,500 people will likely see a dramatic boost over the next three to five years.

Generally an affluent suburb that attracts young professionals in the 25 to 34 age bracket, many new developments in St. Leonards are designed as a response to demand for small low-maintenance homes close to the city. As over 50% of residents are single or have no children, simple housing with expansive harbour views and good public transport options are seen as highly valued.

Developers have noted the challenge in transforming the area from a very highway-oriented suburb to a pedestrian-friendly hub, noting that the similar transformations of other inner areas in recent years have been a success.