Commercial Market Update – Norwest Cityscope
The latest research from Norwest Cityscope shows a decrease in the total value of sales over the last quarter. For the three months to October 2016, there were 29 sales at a total value of $17.8 million, compared to the 27 sales at a total value of $78.5 million for the three months to July 2016. This data brings the 12-month total to $503 million, a substantial increase from the $310.8 million recorded the same time last year.
The table below shows sales recorded for the last eight updates of Norwest Cityscope.
Notable sales recorded in the October 2016 update of Norwest Cityscope include:
- Unit 9 in the Meridian Business Centre at 5-7 Meridian Place, Bella Vista (NW2.14), a two-storey commercial unit of 984 sqm, which was sold for $1.95 million; and
- Lot 3 in the Lexington Corporate at 24-32 Lexington Drive, Bella Vista (NW1.6.3), an industrial unit of 405 sqm on the lower ground level and 94 sqm on the ground level with eight car spaces, which sold for $1.26 million.
Significant properties for sale in the October 2016 update of Norwest Cityscope include:
- Lot 1 at 4A Meridian Place, Bella Vista (NW1.11.1), a commercial unit of 719 sqm on the ground floor with a 775-sqm courtyard and 29 car parking spaces, by auction on 22 November 2016 through Coutts Real Estate;
- Suite 508 at 12 Century Circuit, Baulkham Hills (NW8.7.47), a 194-sqm office suit with 112 sqm of parking, by auction on 4 November 2016 through Coutts Real Estate; and
- Suite 401 at 10 Century Circuit, Baulkham Hills (NW8.9.39), a 135-sqm office suit with 70 sqm of parking, by auction on 4 November 2016 through Coutts Real Estate.
Significant leasing opportunities in the October 2016 update of Norwest Cityscope include:
- 20 Lexington Drive, Bella Vista (NW2.1A), part of Norwest Sky City, which has three contiguous office floors of up to 6,500 sqm space available through Colliers International Parramatta;
- 1-3 Meridian Place, Bella Vista (NW2.3), an industrial and commercial building, which has warehouse space of 1,950 sqm available through Norwest Commercial and Industrial Real Estate; and
- Century Estate at 2 Solent Circuit, Baulkham Hills (NW7.7), a group of commercial and industrial buildings, which has office space of up to 1,843 sqm available through Norwest Baulkham Hills.
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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