Commercial Market Update – Pyrmont-Ultimo Cityscope
This quarterly update of Pyrmont-Ultimo Cityscope shows a decrease in both sales activity and total sales value, with a total of 25 sales at a value of $26.5 million, compared to 50 sales at a total value of $95.6 million for the quarter ending October 2016. The 12-month total sales figure stands at $205 million for the year ending January 2017, with 163 sales recorded over that period. This is in comparison to the previous 12 months when the year ending January 2016 had 167 sales, totalling $634.1 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 January 2017 update include:
- Collins House at 233-241 Broadway, Glebe, a three-storey commercial building with parking for two cars via a right of way from Grose Street was bought for $7 million;
- 79 Glebe Point Road, Glebe, a single-storey late Victorian double fronted cottage in a garden setting, built in 1880 plus a three-storey addition behind the cottage, was restored in late 2011 after being extensively fire damaged, was bought for $3.6 million through LJ Hooker Glebe and
- 142 Glebe Point Road, Glebe, a two-storey brick Federation building with a ground floor shop fitted out as a restaurant and a single-storey brick extension at the south western end of the site, was bought for $3.574 million through Ray White Commercial Inner West. The sale represented an initial yield of 5.05% on a passing income of $180,526 (gross).
Properties for sale in the latest update of Pyrmont-Ultimo Cityscope include:
- 385 Wattle Street, Ultimo, two adjoined single-storey brick warehouse buildings, each with a loading dock to Blackwattle Lane with the site area of 1,174 sqm for sale through Gerard Cole;
- Lot 8/531-533 Harris Street, Ultimo, a 306 sqm retail shop on the ground floor in Alla Court, a 6-storey residential building with one retail unit on the ground and seven residential units on the upper level is for sale by auction through Ray White on Broadway and
- 146-148 Harris Street, Pyrmont, former Pyrmont Post Office, a two-storey rock-faced sandstone building, built in Federation Free-style in 1901. Designed by NSW Government architect, Walter Liberty Vernon is for sale through For Sale For Lease Pty Ltd.
Leasing opportunities listed in the January 2017 update of Pyrmont-Ultimo Cityscope include:
- 63 Miller Street, Pyrmont, a five-storey refurbished commercial building, with a ground floor supermarket, two levels of office and two levels of basement parking has office space ranging from 439 to 3,808 sqm for lease through Colliers International Sydney;
- 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;
- Ultimo Trade Centre at 28-48 Wattle Street, Ultimo, a five-storey Federation-style brick warehouse building connected to a two-storey brick warehouse building, separated by a driveway has warehouse storage areas ranging from 100 to 2,000 sqm for lease through DJ Wear & Associates – Sydney and
- Nora House at 29-33 Balfour Street, Chippendale, a three-storey warehouse with a loading dock has office and retail space of 200 to 2,500 sqm for lease through Deans Property – Broadway and Ray White Commercial.
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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