Commercial Market Update – Eastern Sydney Cityscope

The latest research from Eastern Sydney Cityscope shows property sales have increased in the past three months. Sales recorded in the quarter to July 2017 totaled $155.3 million, an increase from the $141 million recorded in the quarter to April 2017 but a decrease from the $381.6 million recorded in the quarter to January 2017. This data brings the 12 month total to $797 million, a significant increase from the $459.5 million recorded the same time last year.

The table below shows sales recorded for the past eight updates of Eastern Sydney Cityscope.

Notable sales listed in the July 2017 update of Eastern Sydney Cityscope include: 

• 20-26 Cross Street, Double Bay, a two-storey building comprising 34 suites with a net lettable area of 1,065 sqm, which was bought for $54.6 million through CBRE North Sydney;
• Kinselas Hotel, at 383-387 Bourke Street, Darlinghurst, a four-storey Victorian-style building with an internal Inter-War Art Deco style, formerly a chapel and funeral parlour which was built in1933, it was bought for approximately $23 million through Colliers International and
• Bay House, at 2 Guilfoyle Avenue, Double Bay, a four-storey office building with a net lettable area of 985 sqm, which was bought for $12 million.

Properties listed as for sale in the July 2017 update of Eastern Sydney Cityscope include: 

• Room 4 at 285A Crown Street, Surry Hills, a three-storey commercial building with underground parking for 15 cars and a building area of 4,520 sqm available through Colliers International and CI Australia;
• The Colombian Hotel, at 117-123 Oxford Street, Darlinghurst, a three-storey Inter-War building, built in 1930 and refurbished in 2002, available through Ray White Hotels and
• 48 Little Oxford Street, Darlinghurst, a mixed-use building with one ground floor commercial tenancy and three floors of residential units above, available through CBRE Sydney.

Leasing opportunities listed in the July 2017 update of Eastern Sydney Cityscope include:

• 64-76 Kippax Street, Surry Hills, an eight-storey warehouse conversion building with car parking for 72 cars, has suites of 75 to 1,200 sqm available through Karbon Property Sydney and Colliers International Sydney;
• 21 Bay Street, Double Bay, a one and two-storey building, has retail space of 300 sqm available through Rose and Jones Buyers Agents and Property Managers and
• Ozone Bondi Beach at 102-106 Campbell Parade, Bondi Beach, a four-storey block comprising ground floor retail and 13 upper level residential units, has retail space of 370 sqm available through CBRE 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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Source: CoreLogic Feed