The City of Sydney council will sell or change the way it manages key properties, so it can provide more affordable housing in the inner city and give the Oxford Street strip an economic boost.

A report that will be considered by council recommends the City place several surplus properties on the market in 2017-2018. 

Properties proposed to be placed on the market include:

• 94–106 Epsom Rd, Zetland (Epsom Road Depot)
• 11 Gibbons Street, Redfern (Redfern Depot)
• 36 Gerard Street, Alexandria (Alexandria Depot)
• Stockton House, 73–75 William Street, East Sydney
• 545–549 South Dowling Street, Moore Park
• 90 Regent Street, Redfern

A second report recommends the City makes three strategically located commercial properties on Oxford Street available for long-term lease.

If the reports are adopted, the council will look to sell the Redfern depot site to affordable housing providers, with the result of more than 100 affordable housing units possibly being built.

Lord Mayor Clover Moore said, "The sale of surplus operational and commercial land will enable us to further invest in our City’s future, while helping to provide affordable housing in Redfern, which is so urgently needed now."

"The sale of (Redfern depot) will provide more housing options for key workers such as teachers, nurses, police, firefighters and social workers," she said.

Proceeds from the sale of 545–549 South Dowling Street will be set aside in the community properties reserve, given the building’s origins as a community activity centre.

The proposal to identify a partner for a long-term lease on three Oxford Street properties, which have a combined lettable area of more than 12,000 square metres, presents an opportunity to the council to retain a valuable resource, while looking at alternative uses for the buildings.

“These properties are in a strategic location and have enormous potential, but they need significant capital investment that would place a huge strain on the City’s financial resources,” the Lord Mayor said.

“We have a great opportunity to explore alternative opportunities with the private sector and secure a long-term lease, similar to the arrangement we have with the QVB and the Capitol Theatre," she said.

Moore said the council is keen to "look at ways to further revitalise Oxford Street."

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