Commercial Market Update – Pyrmont-Ultimo Cityscope
This quarterly update of Pyrmont-Ultimo Cityscope shows a slight decrease in total sales value, with a total of 35 sales at a value of $428.9 million, compared to 25 sales at a total value of $458.9 million for the quarter ending April 2017. The 12-month total sales figure stands at $1.01 billion for the year ending July 2017, with 136 sales recorded over that period, a large increase to the previous 12 months when the year ending July 2016 had 186 sales, totalling $549 million.
The table below shows sales recorded for the last eight updates of Pyrmont-Ultimo Cityscope.
Notable sales in the areas covered by Pyrmont-Ultimo Cityscope for the July 2017 update include:
- 100 Harris Street, Pyrmont, a five and six-storey brick commercial building with building area 26,900 sqm. Originally built in 1919 as a woolstore in the Federation Warehouse style, and converted to office use in the 1980s. There is a parking area with about 50 spaces to the southern end of the site, was bought for $327.5 million through JLL Sydney and Karbon Property – Sydney;
- 39-47 Regent Street, Chippendale, a six-storey commercial building with building area 3,822 sqm, was bought for $38.81 million and
- Toxteth Hotel at 345 Glebe Point Road, Glebe, a two-storey pub in the inter-war Free Classical style, with a one-storey addition to Glebe Point Road, presently housing the pub’s bottle shop, was bought for $13.1 million.
Properties listed as for sale in the July 2017 update of Pyrmont-Ultimo Cityscope include:
- 212 Harris Street, Pyrmont, a two-storey terrace with a recessed balcony on the first level and pitched iron roof. Refurbished and converted the upper level into four serviced apartments in 2016, is for sale by auction on 3 August 2017 through Knight Frank Sydney;
- 211 Glebe Point Road, Glebe, a two-storey terrace house and three-storeys to Talfourd Lane, with the ground floor converted to retail use with site area of 116 sqm, is for sale by auction on 8 August 2017 through Henderson & Horning and
- Shop E at 82 Mary Ann Street, Ultimo a 42 sqm commercial suite on the ground floor of The Powerhouse Apartment, is for sale through DB Property.
Leasing opportunities listed in the July 2017 update of Pyrmont-Ultimo Cityscope include:
- 80 Bay Street, Ultimo, a four-storey federation warehouse building with four ground floor retail tenancies and offices on the upper levels, has office space of 1,900 sqm for lease through Colliers International;
- 385 Wattle Street, Ultimo two adjoined single-storey brick warehouse buildings, each with a loading dock to Blackwattle Lane has warehouse/office space ranging from 500 to 1,170 sqm for lease through Knight Frank – Sydney South and
- Nora House at 29-33 Balfour Street, Chippendale, a three-storey warehouse with a loading dock to Balfour Street, has office space ranging from 200 to 2,500 sqm for lease through Ray White Glebe and Space Property Estate Agents.
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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