Commercial Market Update – Chatswood Cityscope
The latest research from Chatswood Cityscope shows that commercial property sales have increased in both number and total sales value. For the quarter to December 2016 there were 28 sales at a total sales value of $156.7 million, compared to 22 sales at a total value of $94.2 million for the previous quarter but down from the 29 sales at a total of $371 million in the quarter before that.
The yearly figures have increased dramatically, however, with 115 sales at a total value of $677.2 million for the twelve months to December 2016, compared to 121 sales at a total value of $241.6 million for the previous year.
The table below shows sales recorded for the past eight updates of Chatswood Cityscope:
Notable sales in the December 2016 update of Chatswood Cityscope include:
- 15 Help Street, Chatswood, a nine-storey office building with basement parking and a net lettable area of 5,407 sqm, which was bought for $43.8 million through Knight Frank Sydney;
- 284 Victoria Avenue, Chatswood, a three-storey office building with two retail shops and parking for 29 cars and Nirad House, 282 Victoria Avenue, Chatswood, a seven-storey building with ground and mezzanine shopping and two levels of car parking, were bought together over two transactions for a total of $46.5 million through Colliers International and
- 66-70 Archer Street, Chatswood, a three-storey building with rear and basement parking, which was bought for $30 million.
Properties listed as for sale in the December 2016 update of Chatswood Cityscope include:
- 815 Pacific Highway, Northbridge, a 14-storey office building with two levels of basement parking for 104 cars, available through Knight Frank Sydney and
- 126 Penshurst Street, Willoughby, a single-storey brick semi-detached house used commercially, for sale with an asking price of $1,200,000 through Shead Property
Leasing opportunities listed in the December 2016 update of Chatswood Cityscope include:
- 9 Help Street, Chatswood, an eight-storey office building with basement parking for 129 cars, which has office space of 155 to 1,072 sqm for lease in December 2016 through Knight Frank North Sydney and Colliers International North Sydney;
- Sage Micropay Building, 67 Albert Avenue, Chatswood, an A-grade, 20-level office tower with basement parking for 199 cars, which has office space of 630 to 3,800 sqm for lease through Cadigal Office Leasing and JLL North Sydney and
- 301 Pacific Highway, Chatswood, a former car yard of 2,409 sqm which is for lease through Sutton Anderson.
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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