Rise of Nepalese businesses in Sydney

NEPALESE businesses have become active in the inner-city Sydney leasing scene.

Ray White Commercial South Sydney’s John Skufris said Pitt Street in Sydney’s CBD between Liverpool Street to the south and Market Street to the north was highly sought-after for businesses including, but not limited to, education agencies, migration agencies, student services, financial services and international colleges.

Mr Skufris said there were a number of examples of Nepalese businesses which had actively sought office space in Sydney.

“Option Education Consultancy was close to finalising the lease of its first Australian office at Level 3, 250 Pitt Street,” he said.

“Grace International Group also opened at Level 2, 250 Pitt Street, after establishing its first Australian office in Melbourne. ”

Mr Skufris said both premises were offered partly furnished and proposed initial lease terms were for two years respectively.

“The Non-Resident Nepali Association Australia recently held its second National Entrepreneur Conference at Rydges in World Square, Sydney,” he said.

“It was recognised there’s now some 118,000 of the Nepali diaspora living throughout Australia who currently own over 3,000 businesses, with at least 60 per cent of these businesses located within New South Wales. ”

Mr Skufris also said that Alfa Beta established its onshore partner office having leased fitted and furnished premises at Suite 402/Level 4, 368 Sussex Street, in the the Pacific Trade Centre building for one year at circa. $40,000 p.a.

“The property was subsequently purchased by a Nepalese-Australian investor for $702,000,” he said.