Commercial Market Update – South Sydney Cityscope
The latest research from South Sydney Cityscope shows property sales for the quarter to March 2017 have decreased in terms of total value. Sales recorded in the most recent quarter totalled $279.1 million from 53 sales, as compared to the $419.1 million from 50 sales in the quarter to December 2016 and down from the $512.7 million from 58 sales recorded in the quarter to September 2016.
This quarter brings the 12-month total value of sales to $1.488 billion from 200 sales, an increase from the $1.244 billion from 295 sales recorded for the previous year.
The table below shows sales recorded for the past eight updates of South Sydney Cityscope.
Notable sales in the March 2017 update of South Sydney Cityscope include:
- Biomed Building at 1 Central Avenue, Eveleigh, a six-storey brick building; Nicta at 13 Garden Street, Eveleigh, a seven-storey office building with car parking on the basement level and the International Business at 2 Cornwallis Street, Eveleigh, a two-storey heritage listed brick building, which sold together for $104 million;
- 33 Mentmore Avenue, Rosebery, a two-storey brick office building and a single-storey brick warehouse/factory building on a site area of 4,519 sqm, which sold for $33.65 million;
- 12-18 Burrows Road, St Peters, three high-clearance warehouse/workshops, two with mezzanine offices, with a shipping container storage yard and truck parking and loading areas on a site area of 8,087 sqm, which sold for $20.05 million.
Properties listed as for sale in the March 2017 update of South Sydney Cityscope include:
- Coal Pier Road, Banksmeadow, an industrial development site of 57,510 sqm available through JLL Mascot and JLL Sydney;
- 192-200 Euston Road, Alexandria, a brick, single-storey, high-clearance warehouse with three loading bays and mezzanine offices on a site area of 1,960 sqm, available through Colliers International Sydney South;
- Unit 1, 3 Dunning Avenue, Rosebery, a shop of 122 sqm with a storage space and car park space for three vehicles; Unit 2, 3 Dunning Avenue, Rosebery, a shop of 276 sqm with a storage space and a car park space for three vehicles and Unit 3, 3 Dunning Avenue, Rosebery, a shop of 74 sqm with a storage space and a car park space in Revere, a six-storey mixed-use development, available together or separately through CBRE South Sydney.
Leasing opportunities in the March 2017 update of South Sydney Cityscope include:
- 185 O’Riordan Street, Mascot, a development to be two office buildings with a building area of 34,350 sqm has office space of 300 to 2,796 sqm for pre-lease through Goodman Australia, Cushman & Wakefield and JLL Mascot;
- 60 O’Riordan Street, Alexandria, a two-storey office building with two high-clearance warehouse buildings has warehouse space of 4,589 sqm available through Link Property Services;
- Burrows Industrial Estate at 1-3 Burrows Road, St Peters, a complex of five brick high-clearance warehouses with small office buildings attached which has industrial space ranging from 992 to 6,058 sqm available through CBRE South Sydney.
Commercial Research
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.
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