Commercial Market Update – Macquarie Park Cityscope

 In Commercial data

The latest research from Macquarie Park Cityscope shows property sales for the three months to November 2016 have decreased substantially from the preceding quarter. Sales recorded in the quarter ending November 2016 totalled $135.5 million, a decrease from the $769.7 million recorded in the three months to August 2016, but an increase from the $30.7 million recorded to May 2016. For the year ending November 2016, there were 87 sales at a total value of $1.388 billion, compared to 94 sales at a total value of $807 million for the previous year.

The table below shows sales recorded for the past eight updates of Macquarie Park Cityscope.

Macquarie Park Cityscope Quarterly Sales

Notable sales in the November 2016 update of Macquarie Park Cityscope include:

  • 37 Epping Road, Macquarie Park, a four-storey office/showroom complex at with a total lettable area of 8,274 sqm, made up of 5,752 sqm of office space, 2,522 sqm of showroom space and car parking for 232 cars, which was bought for $34 million. The sale represented an initial yield of 7.65% on a passing income of $2,600,000 (net);
  • 113 Wicks Road, Macquarie Park, a four-storey commercial/industrial building comprising two levels of offices, one showroom level, high-clearance warehouses and undercover parking for 180 cars with a net lettable area of 6,271 sqm, which was bought for $23.255 million;
  • The leasehold of a single-storey retail building at 8 Dawn Fraser Avenue, Sydney Olympic Park, situated on a site area of 873 sqm, which was bought for $20 million; agent CBRE Western Sydney.

pulse-nrsaleschart

Properties for sale in Macquarie Park Cityscope in November 2016 include:

  • 8 Australia Avenue, Sydney Olympic Park, a five-storey commercial building with retail spaces on the ground floor and two levels of basement car parking for 119 spaces with a net lettable area of 6,610 sqm, available through CI Australia and Savills;
  • Valad Corporate Place, also known as Riverside Corporate Place, at 2 Richardson Place, North Ryde, a four-storey office building plus two levels of basement parking for 454 cars and outdoor parking for 63 cars, total net lettable area of 15,200 sqm, available through CBRE Sydney and JLL Sydney;
  • Epson Australia House at 3 Talavera Road, Macquarie Park, a three-storey commercial/warehouse building with warehousing and dual loading dock facilities, comprising 2,580 sqm of office space, 5,000 sqm of warehouse space and 118 onsite car parking available through JLL Sydney.

Leasing opportunities in the November 2016 of Macquarie Park Cityscope include:

  • Avaya House at 123 Epping Road, Macquarie Park, a ten-storey commercial and industrial building with three levels of basement parking for 534 cars, which has office space of 351 to 4,164 sqm for lease through Savills Sydney;
  • Riverview Park Estate at 166 Epping Road, Lane Cove West, comprising two three-storey office buildings joined by a central two-storey atrium plus two levels of basement parking for 236 cars, which as office space of 700 to 4,300 sqm for lease through Savills Parramatta and Knight Frank North Sydney;
  • 6 Carter Street, Lidcombe, a high-clearance warehouse with office space to the front, loading docks and parking for 60 cars, which has warehouse space of 3,767 sqm for lease through Warwick Williams.

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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