Commercial Market Update – Parramatta Cityscope
The latest research from Parramatta Cityscope shows sales have declined in the quarter to March 2017. In the latest quarter there were 19 sales at a total value of $66.1m, compared to 32 sales at a total value of $150.27m for the previous quarter, and 17 sales at a total value of $139.3m for the quarter to September 2016. However, the 12-monthly sales value has slightly increased, with 96 sales at a total value of $492.1m for the year to March 2017, compared to 140 sales at a total value of $474.5m for the previous year.
The table below shows sales recorded for the past eight updates of Parramatta Cityscope.
Notable sales in the March 2017 update of Parramatta Cityscope include:
- 93 Phillip Street, Parramatta, 95 Phillip Street, Parramatta and 30-32 Smith Street, Parramatta, comprising two three-storey office buildings and a two-storey brick building with a high-clearance brick worship hall, which sold together for $31.2 million through JLL Parramatta and Raine & Horne Commercial Parramatta and
- 41-59 George Street, Parramatta, comprising a two-storey stone building with three shops, a two-storey building and a high clearance retail warehouse building with part of the site being used for 23 car parking spaces and a loading dock in the ROW area, which sold for $22.5 million through Colliers International Sydney West. The sale represented an initial yield of 3.24% on a passing income of $729,199 (net).
Properties for sale in the March 2017 update of Parramatta Cityscope include:
- 295-309 Church Street, Parramatta, a two-storey building with 17 parking spaces to the rear and net lettable area of 1,362 sqm, available through Khoury & Partners and Savills (Sydney);
- 426 Church Street, Parramatta, a two-storey building, formerly Nationwide House, comprising ground floor retail showrooms with office space above and basement security parking for 83 vehicles, available through CBRE – Western Sydney and
- Unit 6, 2 O’Connell Street, Parramatta, a 52 sqm ground floor retail unit with a basement car park in St John’s Garden Court, available with an asking price of $688,000 through C & R International Real Estate – Parramatta.
Leasing opportunities listed in the March 2017 update of Parramatta Cityscope include:
- 90 Phillip Street, Parramatta, a four-storey office building with parking for 61 cars, which has office space up to 1,600 sqm available through CBRE Western Sydney;
- 126 Church Street, Parramatta, a 13-storey office block with basement parking for 47 cars, which has office space up to 1,880 sqm available through Colliers International Sydney West and CBRE Western Sydney and
- 56 Station Street East, Harris Park, formerly the Western QBE Centre, a 12-level building, comprising 8 floors of offices, a ground floor lobby area, four retail showrooms and three levels of above ground parking for 206 cars, which has office space up to 6,000 sqm available through CBRE Western Sydney.
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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