Urban Transformation and the Rise of Mixed-Use Development in Australia

Over the past years and despite the COVID-19 pandemic in the last two years, the trend toward mixed-used buildingshas significantly increased.  The COVID-19 pandemic has even inspired real estate developers to turn toward mixed-used buildings. Mixed used buildings offer a diverse mix of commercial, residential, and retail space in one place. Urban planning experts have highlighted the greater advantage of investing in mixed-used buildings than in single-use developments. With the pandemic as a reference, which puts establishments that are reliant on single-tenant type at risk when almost all shops were forced to shut their offices, they have expressed their preference for a long-term mixed-use strategy. In this blog, we will further explain the urban transformation and the rise of mixed-use development in Australia.

Budget Cost Savings

Mixed-use development is a combination of residential, commercial, and entertainment spaces in one building situated within a city and other urban areas. And it is common knowledge that the operational expenses in highly urbanized cities cost way higher than in rural areas. With the continuing urban transformation, investing in mixed-use development in Australia is the most viable strategy for you to save on operational expenses.

Promotes Safer and Healthier Walkable Places

With the continuing urban transformation and the rise of mixed-use development in Australia, safer and healthier walkable places became feasible again. Mixed-use lifestyle centres provide a walkable and safer environment for the people living in cities which consequently creates a lively vibe for different establishments, creating a positive economic cycle and increasing economic viability.

Higher Property Values

One attractive quality of mixed-use development is its ability to make income streams from retail, commercial, and residential establishments. The created income streams, in turn, increasesproperty prices for location-efficient places. Investing in mixed-use development in Australia means higher property value for you given the evident urban transformation in most areas in Australia.

Promote Tourism

Mixed-use developments foster convenience by providing ready to access amenities and proximity to recreational as well as essential activities. The convenience that mixed-use buildings provide has drawn a lot of people to live in urban areas which makes economies flourish through the visiting tourists.

With the accelerated transformation and changes in the urban area and the resulting abovementioned benefits of investing in mixed-use development, it is high time for you to consider turning to mixed-use development to protect your assets in this uncertain time and unstable market. Let our professional team at Greenway Hirst Page Pty Ltd help you learn more about mixed-use developments and make your dream business turn into reality. At GHP, we understand every client’s need and we vow to always deliver quality design and service, knowing this, you can ensure that you will be in good hands.

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