Commercial Market Update – North Sydney Cityscope
The latest research from North Sydney Cityscope shows sales have increased in total value in the quarter to October 2016. Sales recorded in the most recent quarter totalled $576.8 million from 83 sales, an increase in total value compared to the $446.8 million from 68 sales in the quarter to July 2016 and the $418.7 million from 41 sales in the quarter to April 2016. This quarter brings the twelve-month total value of sales to $1.674 billion, a decrease from the $2.356 billion recorded for the previous year.
The table below shows sales recorded for the past eight updates of North Sydney Cityscope.
Notable sales for the October 2016 update of North Sydney Cityscope include:
- Kimberly-Clark House at 52 Alfred Street South, North Sydney, a 12-level building with a restaurant on the ground floor and basement parking for 176 cars, which were bought for $130 million;
- 90 Arthur Street, North Sydney, a 15-storey building, formerly Commercial Union House, completed in 1987, includes ground floor showrooms, two levels of car parking for 88 cars and a penthouse on the 14th floor, which was bought for $73.5 million; and
- 92 Christie Street, St Leonards, a public plaza and 100 Christie Street, St Leonards, a 12-storey office building with parking for 74 cars, which sold together for approximately $61.28 million.
Properties listed as for sale in the October 2016 update in the areas covered by North Sydney Cityscope include:
- Properties at 558 Pacific Highway, 560 Pacific Highway, 562 Pacific Highway and 564 Pacific Highway in St Leonards, comprising of four two-storey brick buildings all with parking at rear, with properties at 71 to 73 Lithgow Street, 75 Lithgow Street, 77 Lithgow Street and 79 Lithgow Street, comprising of four office buildings two, three and four storeys, are for sale with Pharmacy House, a four-storey office building at 82 Christie Street, Pharmacy Guild House, a three-storey building at 84 Christie Street and 86-90 Christie Street, a two-storey office building, as a development site by an expressions of interest closing 18th November 2016 through CBRE North Sydney, Ray White Commercial NSW – Sydney and Colliers International-Sydney;
- A two-storey building at 51-53 Willoughby Road, Crows Nest, for sale at an asking price of $10.75 million available through CBRE North Sydney; and
- A two-storey building at 6-8 Falcon Street, Crows Nest for sale by auction scheduled on 22nd November 2016 through Sutton Anderson – Crows Nest.
Leasing opportunities in the October 2016 update in the areas covered by North Sydney Cityscope include:
- 100 Christie Street, St Leonards, a 12-storey office building with parking for 74 cars, which has office space of 400 to 8,500 sqm available through CBRE North Sydney;
- 80 Mount Street, McMahons Point, a building of 18 levels comprising ground floor retail, 14 upper levels of offices, and three levels of basement parking for 48 cars, which has office space of 100 to 460 sqm through Knight Frank North Sydney and Colliers International North Sydney; and
- 141 Walker Street, North Sydney, a 24-storey office building completed in 1987 with basement parking for 209 cars, which has office space of 216 to 966 sqm through CBRE North Sydney and Dexus Property Group.
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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