The latest research from Sydney Cityscope
shows commercial property sales in Sydney’s CBD have risen in number but fallen in total value. In the quarter to May 2016 there were 96 sales at a total value of $2.117 billion, compared to 90 sales at a total value of $2.333 billion in the quarter to February 2016. In the twelve months to May 2016 there were almost exactly as many sales as the previous year, 375 compared to 376, but the total value rose substantially, $8.712 billion compared to $6.25 billion.
The table below shows sales recorded for the past eight updates of Sydney Cityscope.
Notable sales in the May 2016 update of Sydney Cityscope include:
- Macquarie Group’s headquarters at 1 Shelley Street, Sydney, two commercial buildings, one of six storeys and the other of 11, with retail space on the ground floor and parking for 258 vehicles, which sold for $525 million;
- An A-grade, 34 storey commercial tower at 420 George Street, Sydney, with parking for 66 vehicles, a 75% share of which sold for $442.5 million; and
- World Square Shopping Centre, with 16,500 sqm of retail space over three levels and underground parking for 547 vehicles over seven levels, located at 644 George Street, Sydney, a 50% share of which sold for $285 million.
Properties listed as for sale in the May 2016 update of Sydney Cityscope include:
- The Bond, a five storey office and warehouse building, a two storey office building and a three storey warehouse, located at 36 Hickson Road, Millers Point, available through LJ Hooker Northbridge and Khoury & Partners;
- A three storey showroom and office building at 321-325 Sussex Street, Sydney, available through Colliers International; and
- A three storey building with a basement and retail on the ground floor at 319 Sussex Street, through Colliers International.
Leasing opportunities listed in the May 2016 update of Sydney Cityscope include:
- Governor Phillip Tower, a 64 level commercial building with underground parking at 1 Farrer Place, which has office space of 120 to 10,000 sqm for lease through Cadigal Office Leasing;
- HSBC Centre, a 37 level building with basement parking for 141 vehicles at 580 George Street, Sydney, which has office space of 1,215 to 8,995 sqm for lease through Colliers International and Cook Wish Ellison; and
- Civic Tower, a 24 level office building with basement parking for 54 vehicles at 66 Goulburn Street, Sydney, which has office space of 380 to 8,900 sqm for lease through CBRE.
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 RP Data products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.
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Source: Blog Corelogic Feed