Cockle Bay Wharf

Today, Cockle Bay Wharf is Sydney’s largest premium waterfront dining destination and is a great example of how our strategic thinking adds significant value to the asset valuation.

Our masterplan strategy for this asset identified that fast food under-performed against slow food significantly. Looking at the demographics and site circulation also revealed a leisure rather than mission shopper, which means by nature less time poor and price sensitive shoppers.

Brain & Poulter created a new positioning strategy for Cockle Bay Wharf and recommended the removal of the food court on promenade level and replacement with more restaurants. This resulted in a 500% increase to the gross rents being achieved from this zone and significant reduction in operating costs by converting common seating area to licensed seating area for the new restaurants.

Over the past 10 years B&P has made numerous improvements to the tenancy mix and design of this precinct. Our strategies to transform the Cockle Bay Wharf food court into restaurants, while adding a cafe court and casual dining precinct to Darling Park has added $1.2M per annum in additional rent from this asset.

This is an example of a great win for all concerned. Customers have more choice and variety in what they really wanted (restaurants). Restaurants who couldn’t meet demand were able to expand and increase their sales and of course the asset value and rent roll increased dramatically.