Commercial Market Update – Parramatta Cityscope

The latest research from Parramatta Cityscope shows sales have significantly increased in the quarter to June 2017. In the latest quarter there were 27 sales at a total value of $351.9 million, compared to the 19 sales at a total value of $66 million for the quarter to March 2017. This brings the 12-month data to 95 sales at a total value of $707.5 million for the year to June 2017, compared to the 141 sales at a total value of $526 million for the previous year.

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

Notable sales in the June 2017 update of Parramatta Cityscope include:

• 105 Phillip Street, Parramatta, a 14-storey office building with basement car parking for 200 vehicles, currently under construction at an estimated cost of $95 million. The building, upon completion, will provide a total of 20,388 sqm comprising 19,730 sqm of office space and 658 sqm of ground level retail space. It was pre-sold for $229 million;
• 83 Church Street, Parramatta, a car yard with a single-storey sales office at the back on a site of 7,584 sqm, which was bought for $91 million and
• 57 Church Street, Parramatta, a car yard with several one and two-storey brick buildings and a car wash on a site of 1,992 sqm, which was bought for $9 million.

Properties listed as for sale in the June 2017 update of Parramatta Cityscope include:

• 38 George Street, Parramatta, a three-storey office building with a net lettable area of 770 sqm, includes four covered parking spaces, refurbished in 1994, which is available through Khoury & Partners;
• 295-309 Church Street, Parramatta, a two-storey building with 17 parking spaces to the rear with a net lettable area of 1,362 sqm, which is available through Khoury & Partners and Savills – Sydney and
• 2A Ada Street, 2 Ada Street, 4 Ada Street, 6 Ada Street, 8 Ada Street and 1 Kendall Street, Harris Park, comprising a number of residential dwellings in derelict condition, providing a total site area of 3,002 sqm, which are available through Colliers International.

Leasing opportunities listed in the June 2017 update of Parramatta Cityscope include:

• 126 Church Street, Parramatta, a 13-storey office block with basement parking for 47 cars, extensively refurbished in 2002, which has office space ranging from 99 to 1,880 sqm available through Colliers International Sydney West and CBRE Western Sydney;
• 3 Horwood Place, Parramatta, an 11-storey A-grade office building with a net lettable area of 5,015 sqm and typical floor plate of 825 sqm plus parking for 94 cars, which has office space ranging from 135 to 1,341 sqm available through Colliers International Parramatta;
• The Commonwealth Bank Building at 235 Church Street, Parramatta, a four-storey office building with three onsite car spaces, internal refurbishments in late 2007, which has office space of 1,203 sqm available through Karbon Property – Sydney and Colliers International Sydney South.

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

Source: CoreLogic Feed