There has been a number of key sales of office towers that will offer the buyers the chance for residential conversions, as well as new greenfield developments, with mixed use components.

Agents say because of the lock-out laws in the city, where pubs are closing entry earlier, there has been a rise in new "eat streets" and bars in the suburbs.

Some of the latest sales include 100 Harris Street, Pyrmont. The vendor declined to comment, but similar properties have sold for more than $90 million.

At Surry Hills, the Wakil Family recently sold the Griffiths Teas building on Commonwealth Street to Cornerstone Property Group for $22 million.

At Central Park, Chippendale, the newest downtown laneway retail precinct, Kensington St, has been launched.

Located on the eastern boundary of the $2 billion master-planned Central Park project in Chippendale, Kensington St by Greencliff has launched 26 tenancies for lease.

Greencliff, which is both developer and leasing agent for Kensington St, (artist impression pictured), said part of the precinct includes the Unlisted Collection's boutique hotel, The Old Clare, which has secured United Kingdom chef, Jason Atherton (Pollen Street Social, Equina) to head up a line-up including Clayton Wells (Momofuku Seiobo) and Sam Miller (Noma).

Greencliff CEO Dr Stanley Quek said visitors will be reminded of the streets of Brooklyn in New York, Abbot Kinney Boulevard in Venice Beach, LA or Brick Lane in East London. It will be quite unlike any pedestrian laneway precinct currently in Australia.

Dr Quek said the idea was to create an area that will have an "energy and buzz" to cater for the wide range of demographics in the area from students, to office workers and families.

Daniel O'Brien, director of South Sydney at Knight Frank, said the lack of supply of commercial warehouse conversions has really controlled the uptake by tenants so far.

"With the sale of the 25,000 square metres at 100 Harris Street, this supply will be essentially unlocked, and I expect it will be soaked up very quickly by tenants. We are currently dealing with a number of tenants between 5,000 square metres up to 15,000 square metres  seeking space like this in this location," Mr O'Brien said.

"Companies are still driving hard to occupy less traditional office environments. Information technology companies, designers, fashion labels and even your more traditional office occupiers are all considering this kind of space now.

"Warehouse conversions like the recent Arena assets in Pyrmont and Broadway have been attractive to both inbound tenants historically and more recently, prospective purchasers.  Most importantly, the yields they are trading at are now on approaching parity with your typical office assets".

Josh Watts, a director of Karbon Properties said for Sydney's fringe area, it is experiencing a shift in rents, which has led to an emergence of markets such as Chippendale and Surry Hills.

"At Redfern, vacancy rates are at their lowest level for many years as companies look to be near the CBD, but still be able to lease out creative space," Mr Watts said.