Betty, a property consultant specializing in Brisbane and Sydney properties, introduces the newly opened Sydney Seafood Market, a major milestone for Australia’s seafood industry and tourism. This A$800 million (approximately US$538 million) project, launched on January 19th, covers 26,000 square meters in Sydney Harbour. Designed by 3XN GXN Architects, it has been hailed by the NSW government as “the world’s best seafood market,” ranking alongside the Opera House and Harbour Bridge as the third largest landmark in the harbour. It is expected to attract 6 million visitors annually, boosting tourism and employment, and becoming a must-visit destination in Australia.
The market’s modern design is 20% larger than the original site and currently houses 42 retailers and 19 seafood wholesalers. It boasts comprehensive facilities, including a full-fledged wholesale area, retail and dining spaces, an education center, and public gathering areas. Visitors can experience live auctions, oyster shucking workshops, or sample a diverse range of seafood. A unique “floating” roof with solar panels provides 5% of the daily energy; an ice-making facility produces 50,000 kilograms of ice daily to ensure the freshness of the seafood. NSW Agriculture Minister Tara Moriarty stated that this will support over 1,000 local family businesses and strengthen Australia’s seafood industry. More importantly, this market symbolizes the long-term development of Australian real estate. The government, in partnership with developer Mirvac, is transforming the site into 2.6 hectares of public space, 1,400 new homes, and a 15-kilometer waterfront promenade, bringing economic vitality. Sydney’s prime location and infrastructure upgrades are driving up property values, with expected annual rent and price increases of 5-7%, attracting global investors. Similar projects demonstrate that landmark developments can deliver long-term returns and revitalize regions.
If you are interested in Australian property or immigration, please contact Betty of Cheong Mei Australian Property. We provide professional advice, from property selection to immigration planning, to help you seize investment opportunities and experience Australia’s high-quality lifestyle.
