Commercial Market Update – Pyrmont-Ultimo Cityscope
This quarterly update of Pyrmont-Ultimo Cityscope shows an increase in sales value, with a total of 51 sales at a value of $96.3 million, compared to 46 sales at a total value of $52.7 million for the quarter ending July 2016. The 12-month total sales figure stands at $380.6 million for the year ending October 2016, with 176 sales recorded over that period. This is in comparison to the previous 12 months when the year ending October 2015 had 176 sales, totalling $858.2 million.
The table below shows sales recorded for the past eight updates of Pyrmont-Ultimo Cityscope:
Notable sales in the areas covered by Pyrmont-Ultimo Cityscope for the October 2016 update include:
- 80 Bay Street, Ultimo, a four-storey federation warehouse building with four ground floor retail tenancies and offices on the upper levels, situated on a 933 sqm block, which was bought for $22.7 million;
- 232-236 Cleveland Street, Chippendale, a two-storey commercial building with off-street parking for about eight vehicles, which was bought for $11.4 million through Hartigan Bolt. The sale represented an initial yield of 4.21% on passing income of $480,000;
- 129-135 Broadway, Ultimo, a two-storey brick Victorian Gothic-style commercial building situated on a 488 sqm block, which was bought for $9.76 million through CBRE North Sydney. The sale represented an initial yield of 4.06% on passing income of $396,000.
Properties for sale in the October 2016 update of Pyrmont-Ultimo Cityscope include:
- The Duck Inn at 72-74 Rose Street, Chippendale, a two-storey Inter-war style pub with a courtyard/beer garden to the rear, available through Ray White Hotels;
- 79 Glebe Point Road, Glebe, a single-storey late Victorian double fronted cottage with a three-storey addition built behind, available through LJ Hooker;
- Lot 8 of Alla Court at 531-533 Harris Street, Ultimo, a 306 sqm ground floor retail shop in a six-storey residential building, available through Ray White on Broadway.
Leasing opportunities listed in the October 2016 update of Pyrmont-Ultimo Cityscope include:
- 45 Jones Street, Ultimo, a brick commercial building, three storeys to Jones Street and seven storeys to Wattle Street with covered parking, which has office space of 1,200 to 1,500 sqm for lease through LJ Hooker Commercial Sydney;
- Atrium at 60 Union Street, Pyrmont, Atrium, a mixed commercial and retail complex comprising a 10-level building and a four-level building, 3,000 sqm retail space and 188 car parking spaces in the basement, which has office space of 1,142 to 2,143 sqm for lease through CBRE Sydney;
- 31-35 Bank Street, Pyrmont, a one and two-storey office and warehouse building with an apron and a loading dock to Bank Street. There is parking for 21 vehicles to the front, which has warehouse space of 1,555 sqm and office space of 805 sqm for lease through 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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