Google, The Star, Sydney Fish Market ready to turn Pyrmont into tourist hub

A new vision for Ultimo and Pyrmont is set to be Australia’s answer to London’s West End or NYC’s Meatpacking District.

They’re the big-time plans by a coalition of major businesses including Google, Sydney Fish Market and The Star aimed at making Ultimo and Pyrmont Australia’s answer to London’s glitzy West End or New York’s high-end Meatpacking District.

Considered “under-utilised” and the “poor cousin” of Sydney’s CBD, business groups and the state government are determined Australia’s first Business Improvement District (BID) can transform the area into a thriving economic and tourist hub.

While a popular initiative in the UK, US and New Zealand, BIDs are untried in Australia.

The newly-developed Sydney Fish Market will provide waterfront access all the way to Woolloomooloo.

It will see business lobby group the Western Harbour Alliance, whose membership includes Google, The Star, Sofitel Darling Harbour and construction giants Mirvac and Lendlease, operate a three-year business improvement trial.

Businesses and governments will fund projects aimed at drawing people to the precinct, including a new harbour festival, better digital access and improved transport around and within the area.

Group chairman, former Events NSW CEO Geoff Parmenter, says the area is “under-utilised” and should be on par with London or New York’s CBD.

“With the assets and location of this place, why wouldn’t we aspire to have it as valuable as anywhere in the world?” Mr Parmenter said.

Chair of the Western Harbour Alliance Business Improvement District, Geoff Parmenter says the area is under-utilised. Picture: Richard Dobson

The co-ordinated effort could generate an additional $2 billion per annum for Ultimo and Pyrmont, as well as contributing an extra 10,000 new jobs in the area by 2036.

“Basically, for Google this is their Australian campus,” Mr Parmenter said.

“Companies like Google are in the business of attracting and retaining the best talent in the world. Part of that is not just what’s inside the office, but outside work – providing a 24/7, 365-day a year vibrant environment.”

City of Sydney Council last month agreed to provide a one-off grant of $40,000, while NSW Treasury is discussing details of its $150,000 annual contribution to the three-year trial.

NSW Treasurer Dominic Perrottet said the BID had the “huge potential” to drive economic growth and jobs in Sydney, citing upcoming investments including the new Sydney Fish Markets.

NSW Treasurer Dominic Perrottet says the idea has “huge potential.” Picture: NCA NewsWire / Dylan Coker

“For too long the precinct has been a poor cousin of the Sydney CBD, and the NSW Government is supportive of this effort to attract new investment, businesses, talent and visitor attractions to reinvigorate the area,” he said.

While the board will initially include representation from the big players in the area, Mr Parmenter said the BID’s success depends on all local business and the community jumping on board.