Commercial Market Update – South Sydney Cityscope
The latest research from South Sydney Cityscope shows property sales for the quarter to June 2017 have increased in terms of both total value and sale numbers. Sales recorded in the most recent quarter totalled $504.5 million from 58 sales, as compared to the $479.1 million from 54 sales in the quarter to March 2017 and from the $426.6 million from 51 sales recorded in the quarter to December 2016.
This quarter brings the twelve-month total value of sales to $1.923 billion from 221 sales, an increase from the $1.243 billion from 248 sales recorded for the previous year.
The table below shows sales recorded for the past eight updates of South Sydney Cityscope.
Notable sales in the June 2017 update of South Sydney Cityscope include:
- The Airgate Business Park at Mascot including 291-293 Coward Street, two large warehouse and office units on a site of 16,696 sqm; 283 Coward Street, a high-clearance warehouse with a four-storey office building and a four-level parking station providing a total lettable area 12,350 sqm; an access road with site area of 4,596 sqm; 289 Coward Street a large high-clearance warehouse with a two-storey office block providing a net lettable area of 10,170 sqm; 287 Coward Street, a large high-clearance warehouse with a two-storey office block providing a net lettable area of 4,130 sqm and 285 Coward Street, a three-storey office and warehouse built in 2006 on a site of 72,600 sqm; which sold together for $133.25 million;
- The Discovery Cove Industrial Estate at 1801 Botany Road, Banksmeadow, a complex of warehouse buildings with two-storey office sections providing lettable area of 49,617 sqm and 1809 Botany Road, a large high-clearance warehouse with a two-storey office section to the front; which sold for $131 million; and
- Gateway 241 at 241A O’Riordan Street, Mascot, a 12-storey office building with 19,830 sqm net lettable area and four basement parking levels, which sold for over $128.38 million.
Properties listed as for sale in the June 2017 update of South Sydney Cityscope include:
- 5 Coleman Street, Mascot, a three-storey, high-clearance, brick warehouse with a ground floor office, mezzanine office space and two car spaces on a site of 505 sqm, for sale by auction on 6 July 2017 through Colliers International Sydney;
- Five properties are offered as a whole development site at 14 Chalmers Crescent, Mascot, 16 Chalmers Crescent, 18-20 Chalmers Crescent, 7 Chalmers Crescent and 9 Chalmers Crescent, each with high-clearance warehouse and offices on it, for sale by expressions of interest closing 21 June 2017 through Savills and Balance Corporate Property; and
- Botany Bay Hotel at 1807 Botany Road, Banksmeadow, a three-storey brick and sandstone pub, available through Ray White Commercial NSW and Ray White Hotels.
Leasing opportunities in the June 2017 update of South Sydney Cityscope include:
- Alexandria Creative Park at 41-43 Bouke Road, Alexandria, also known as The Mill, a 20,176 sqm business precinct comprising 10 commercial buildings, an on-site café and one three-storey car park building, which has commercial office space ranging from 200 sqm to 3,076 sqm available through Dexus Property Group;
- 1A Hale Street, Botany, part of PortAir Industrial Estate, a complex of ten high-clearance warehouses, which has warehouse space ranging from 2,400 sqm to 6,800 sqm available through CBRE South Sydney and Goodman Australia; and
- 2 Kent Road, Macot, a high-clearance warehouse with a two-level office extension, which has industrial space of 4,295 sqm available through Knight Frank.
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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