Commercial Market Update – Parramatta Cityscope
The latest research from Parramatta Cityscope shows that commercial property sales have increased in the quarter to December 2016. For the three months to December 2016, there were 32 sales at a total value of $150.2 million, compared to 17 sales at a total value of $139.3 million for the previous quarter. This brings the 12-month data to 97 sales at a total value of $492.8 million for the year to December 2016, a decrease compared to the 171 sales at a total value of $578 million for the previous year.
The table below shows sales recorded for the past eight updates of Parramatta Cityscope:
Notable sales in the December 2016 update of Parramatta Cityscope include:
- Albion Hotel, 135 George Street, Parramatta, a single and two-storey building with beer garden, bottle shop and parking on a site of 1,920 sqm, which was sold together with Albion car park, 118 Harris Street, Parramatta, a paved car park for the hotel on a site of 1,214 sqm for about $60 million through Khoury & Partners Parramatta;
- 80 George Street, Parramatta, two office buildings of six and 11 storeys providing a net lettable area of 8,115 sqm with basement parking for 103 cars, which was sold for $51.88 million through Knight Frank
- 292 Church Street, Parramatta, a three-storey retail building with a net lettable area of 2,090 sqm and six car spaces, which was sold for $9.75 million through Ray White Commercial – Sydney.
Properties listed as for sale in the December 2016 update of Parramatta Cityscope include:
- 295-309 Church Street, Parramatta, a two-storey building with a net lettable area of 1,362 sqm and 17 car spaces, which is available for sale through Savills and Khoury & Partners
- Unit 3 at 411 Church Street, Parramatta, a 77 sqm office suite on level one in a two-storey building, which is for sale through LJ Hooker Commercial Parramatta.
Properties with leasing opportunities listed in the December 2016 update of Parramatta Cityscope include:
- 197-205 Church Street, Parramatta, two interconnected buildings of 2 and 3-storeys, which have office space of 1,500 sqm available through CBRE Western Sydney;
- 90 Phillip Street, Parramatta, a four-storey office building with a net lettable area of 3,180 sqm and 61 car spaces, which has office space up to 1,200 sqm available through CBRE Western Sydney
- 486 Church Street, Parramatta, a 10-level residential building and a two-storey retail annexe, which has retail space up to 1,200 sqm available through Khoury & Partners Parramatta.
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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