Sydney Olympic Park continues to develop at a rapid pace as a model Olympic city five years after the Sydney Olympic Games.
Chief Executive Officer for Sydney Olympic Park Authority, Mr Brian Newman says that the last five years have been ‘the founding years’ for the precinct’s 20-year transformation from its Olympic state to becoming a modern, vibrant township.
“During the ‘founding phase’ we have defined an exciting vision for the Park’s future – one that will establish an international benchmark for the post-Games development of Olympic precincts, while at the same time ensuring that the legacy of the Games continues to grow,” Mr Newman said.
“In this time we have generated revenue in excess of $100 million in land sales, including securing an agreement with Australia’s largest hotel group, Accor, to establish a new five-star hotel at the Park.”
The new 21 story Sofitel will bring the total number of hotel rooms at Sydney Olympic Park to approximately 550.
“Since 2000, annual visitation to Sydney Olympic Park has almost doubled and the precinct continues to be embraced by the people of Sydney, as well as national and international guests. I am confident that visitation will hit 10 million by 2010 from 4 million after the Games,” Mr Newman said.
More than 60 businesses and 4,000 workers are now located at Sydney Olympic Park, and Mr Newman recently welcomed a deal with one of Australia’s largest financial corporations, the Commonwealth Bank of Australia, which will relocate around 1,400 staff to the Park in 2007.
“I'm sure the Bank and its staff will come to enjoy the Park's healthy indoor and outdoor environment, including the fantastic sporting facilities and the Park's 425Ha of diverse parkland. The Bank's relocation will add momentum to the Park's transition from an Olympic events venue to a unique township”.
Since the 2000 Olympic Games, Sydney Olympic Park has continued to attract major events, recently announcing it will host the opening mass and welcome concert for the 2008 World Youth Day, which is expected to attract more than 200,000 people.
In 2009 the Park will also host the World Masters Games, attracting 20,000 competitors. In 2005, more than 4,000 events were held at Sydney Olympic Park, attracting 3.6 million people.
The success of the Sydney SuperDome (recently renamed the Acer Arena) - a multi-purpose entertainment venue located within the Park, continues to grow. The venue is now recognised as the second most successful indoor arena in the world, after Madison Square Gardens, in gross ticket revenue for 2005.
The Olympic Stadium, now called Telstra Stadium, continues to be an asset to the people of Sydney, and Australia, hosting major sporting matches for Ruby Union, Rugby League, Football and Aussie Rules as well as being ‘home’ to seven major sporting teams. 1 million people attended major sporting events at Telstra Stadium during 2005, making it one of Australia’s busiest sports venues. This year the Stadium will also host several major rock concerts featuring bands such as the Rolling Stones.
In education, 413,000 school students visited the Park for a range of sporting and education programs and activities. Sydney Olympic Park has also become home to ‘Sport Knowledge Australia’, an international centre of excellence in sports science and management, and the Australian College of Physical Education and the NSW Institute of Sport. These organisations are all playing a key role in the future development of elite Australian athletes.
The Park is also used extensively by Sydneysiders for community events including outdoor music concerts, art exhibitions and school holiday programs that aim to keep the children busy.
Mr Newman says “the next 5 years is the ‘growth phase’ during which time we expect to see a significant level of new development taking place across all sectors including residential, retail, office, education, hotel and food.
“Within 12 months we will have around 6 sites under construction representing a development value of over $A200 million – the development of a new township at Sydney Olympic Park is well and truly underway.”
“We are at the cusp of a very exciting process of urban transformation that will create a very special Park that retains its Olympic heritage whilst making a unique place for people to live, work, learn and enjoy the amazing leisure assets available at the precinct” Mr Newman said.
Media Contact: Sydney Olympic Park Authority
Manager Media relations - Bronwyn Edwards - 0419 292 205
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