Commercial Market Update – Macquarie Park Cityscope
The latest research from Macquarie Park Cityscope shows property sales for the three months to February 2017 have increased substantially from the preceding quarter. Sales recorded in the quarter ending February 2017 totalled $704.7 million, an increase from the $135.5 million recorded in the three months to November 2016, but a decrease from the $769.9 million recorded to August 2016. For the year ending February 2017, there were 74 sales at a total value of $1.64 billion, compared to 121 sales at a total value of $1.203 billion for the previous year.
The table below shows sales recorded for the past eight updates of Macquarie Park Cityscope.
Notable sales in the February 2017 update of Macquarie Park Cityscope include:
- Everglade Campus, 82 Waterloo Road, Macquarie Park, a four-storey building with parking for 220 cars over two basement levels on a site area of 10,590 sqm, which was bought for $120 million;
- Avaya House, 123 Epping Road, Macquarie Park, an A-grade, 10-storey commercial and industrial building with three levels of basement parking for 534 cars and a net lettable area of 16,161 sqm, which was bought for $118 million through CI Australia North Sydney and Savills and
- Valad Corporate Place, 2 Richardson Place, North Ryde, an A-grade, four-storey office building with two additional levels of basement parking for 454 cars and outdoor parking for 63 cars on a site area of 14,325 sqm, which was bought for $85 million through CBRE Sydney and JLL Sydney.
Properties for sale in Macquarie Park Cityscope in February 2017 include:
- 43 – 61 Waterloo Road, Macquarie Park, a large development site of 39,824 sqm with several older single storey buildings and a paved car park, available through Colliers International;
- 27 Sirius Road, Lane Cove West, a three-storey office building featuring a paved forecourt and high-clearance warehouse and a net lettable area of 8,100 sqm, available through CBRE North Sydney and
- 8 Australia Avenue, Sydney Olympic Park, a five-storey commercial building of 6,610 sqm with retail spaces on the ground floor and 2 levels of basement car parking providing 119 spaces available through JLL Sydney.
Leasing opportunities in the February 2017 of Macquarie Park Cityscope include:
- 18 – 20 Orion Road, Lane Cove West, a nine-storey building comprising ground floor foyer and eight floors of office space and parking for 378 cars, which has office space of 120 to 1,000 sqm for lease through Glass Property Consultants;
- Riverview Park Estate at 166 Epping Road, Lane Cove West, comprising two 3-storey office buildings joined by a central 2-storey atrium plus two levels of basement parking for 236 cars, which has office space of 700 to 4,300 sqm for lease through Savills Parramatta and Knight Frank North Sydney;
- 3 Thomas Holt Drive, Macquarie Park, a nine-storey office building with high-clearance warehouses and parking, which has office space up to 4,200 sqm on the top floors for lease through JLL North Sydney and GJS Property.
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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