Darling Harbour retail faces overhaul

Retail in Darling Harbour is set for a radical overhaul in the wake of the State Government’s announcement last week it will introduce ‘The Haymarket’, a large-scale restructuring of Darling Harbour.

Construction on the project will commence in 2014 and is slated to be finished by 2016. Administered by Infrastructure NSW, The Haymarket has a development value of $1.5 billion. Infrastructure NSW claimed there would be no damage to retail businesses in Darling Harbour during construction.

A spokesperson for the department said it had mandated proponents to complete a “construction management plan”, which will look to minimise the impact on local businesses.

“The construction management plan will include matters like minimising impacts on access routes in and out of Darling Harbour, and minimising inconvenience to customers and business staff,” said a spokesperson for Infrastructure NSW.

But local retailers remained uncertain about the impact of the development.

“I think there will be short-term losses, but at least it will bring exciting long-term prospects,” said the manager of the Darling Harbour Tarocash store.

Nonetheless, retailers were concerned about the lack of information provided. Employees and managers from Tarocash, The Store and Best Real Australian souvenir shop all said they knew little about the development.

A lack of community awareness is also a main concern of several City of Sydney councillors, including Living Sydney’s Angela Vithoulkas.

“This massive project should include community engagement,” said Ms Vithoulkas. “I assume that the City of Sydney has been updated on the proceedings; however as a new councillor I have had very little information.”

The NSW Government and Infrastructure NSW both said the project will bring significant economic growth and change to Darling Harbour. NSW Premier Barry O’Farrell said the project will bring $5 billion in economic growth to Darling Harbour over 25 years.

“This project will transform the western fringe of Sydney’s Central Business District,” said Mr O’Farrell.

The IT retail industry in Darling Harbour is also due to have a significant overhaul.

“The Haymarket will be known as a thriving technology precinct with IT businesses and an ‘IQ Hub’ that is aligned with the University of Technology (UTS) and focused on helping start-ups,” said Mr O’Farrell.

Through consultation with UTS, the IQ Hub will provide workspaces for start up ventures in IT. It will also provide for a technology market and a “Silicon Strip”, a space for creative industries to develop.