Commercial Market Update – North Sydney Cityscope
The latest research from North Sydney Cityscope shows sales have increased in total value in the quarter to July 2017. Sales recorded in the most recent quarter totalled $540.5 million from 71 sales, an increase in total value compared to the $523.7 million from 68 sales in the quarter to April 2017 and an increase compared to the $376.3 million from 70 sales in the quarter to January 2017. This quarter brings the twelve-month total value of sales to $2.068 billion, a slight increase from the $2.035 billion recorded for the previous year.
The table below shows sales recorded for the past eight updates of North Sydney Cityscope.
Notable sales for the July 2017 update of North Sydney Cityscope include:
- 50-52 McLaren Street, North Sydney, vacant land, formerly the site of Georgian House, a three-storey assisted care apartment village demolished in 2016, which sold for $162.5 million;
- 116 Miller Street, North Sydney, an eight-storey building with banking and retail space on the ground floor and seven levels of commercial office space above and a net lettable area of 8,452 sqm and 173 Pacific Highway, North Sydney, a four-storey building with showroom and commercial space of 1,291 sqm, which sold together for $135 million through Knight Frank Sydney and CI Australia and
- 146 Arthur Street, North Sydney, a 12-storey commercial office tower comprising 10 levels of office space, parking for 124 cars and a net lettable area of 8,171 sqm, which sold for $78 million.
Properties for sale in the areas covered by the North Sydney Cityscope July 2017 edition include:
- 165 Walker Street, North Sydney a nine-storey office building with basement parking for 43 cars and a building area of 5,279 sqm, for sale through CI Australia and Inc RE;
- 398-400 Military Road, Cremorne, a two-storey retail building on a site of 329 sqm, available through Doran Commercial and
- 258 Military Road, Neutral Bay, a two-storey building with ground floor retail, for sale through Richardson & Wrench – North Sydney.
Leasing opportunities in the areas covered by North Sydney Cityscope July 2017 include:
- Ascendas Innovation Place, 100 Arthur Street, North Sydney, a 23-storey building comprising retail space on the ground floor, a three-level podium and parking for 141 vehicles over three basement levels, has office space of 265 to 1,370 sqm for lease through Knight Frank North Sydney and CBRE North Sydney;
- 100 Miller Street, North Sydney, a 32-storey office building with a two-level arcade of specialty shops and basement parking for 423 cars has office space up to 4,700 sqm for lease through JLL North Sydney, Office Hub Sydney, Property Partnership Australia and Colliers International Sydney North and
- 170 Pacific Highway, McMahons Point, a five-storey building with retail space on the ground floor and commercial space on the upper floors, which has office space ranging from 300 to 1,800 sqm for lease through Cadigal Office Leasing North 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.
Subscribe to the free Commercial Pulse eNewsletter
Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe
