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New playbook reveals steps to CBD revival

  • March 30, 2021

The Property Council and EY have launched a new “global playbook” with six ideas to restart Australia’s CBDs.

  Three key takeaways:

  • Reimagining our economic powerhouses: How to turn CBDs into central experience districts draws on property industry data, interviews with business leaders and city shapers, and insights from 600 consumers.
  • 82% of Australians, according to the report, are confident their nearest CBD will continue to evolve
  • 70% of Australian CBD workers would like to continue working flexibly at least some of the week, with 3.3 days in the office the preference.

 

Property Council chief executive, Ken Morrison, calls the report a blueprint for government, business and property owners to re-energise CBDs following the pandemic.

“Our CBDs have been the nation’s productivity powerhouses for decades but have been sorely challenged by COVID-19 shutdowns. It’s important for everyone that CBDs are able to reclaim this economic mantle,” Morrison says.

“As more workers return to CBD workplaces, it’s important to supercharge the revival of our CBDs to underpin economic recovery. This report provides the ideas that will be central to this task.”

The report recommends that government, employers and landlords work together to facilitate the return of people to the CBD via a series a targeted measures, including:

  • Introduce free public transport and parking for workers on slow days, such as Mondays and Fridays.
  • Facilitate events to activate streets and precincts with new late night shopping days or night-time markets, especially on weeknights.
  • Reimagine unused space, with governments and landlords working together to fill empty floor space with pop-ups that add vibrancy
  • Accelerate efforts to “green up” workplaces and streetscapes
  • Offer commuters more micro-mobility solutions such as cycling, walking, e-bikes or scooters.

Selina Short, EY Oceania’s managing partner for real estate, hospitality and construction, says Australia’s success in handling the pandemic could set our CBDs up for long-term success.

“We can transform our places of business into centres of experience. How do we do this? We need to rethink quality and reimagine the workplace, introduce more green space, embrace future mobility, amplify our Brand Australia message and more,” Short says.

“Australia is in an enviable position. We are among the first in the world to restart our CBD engines. This gives us an unrivalled opportunity to write the global playbook for CBD revival – and to become a best practice hub for the world.”

The joint report by Property Council of Australia and EY was launched on 31 March 2021 at a Property Council event.

“Lively city centres are not only important for the thousands of businesses who rely on foot traffic, but also for millions of jobs and hundreds of billions of dollars in broader economic activity generated in our CBDs,” Morrison adds.

“The employment, productivity and economic benefits of enlivened CBDs is immense. We want everyone with a stake in the future of our CBDs to engage in this conversation,” Morrison concludes.