Commercial Market Update – South Sydney Cityscope

The latest research from South Sydney Cityscope shows property sales have decreased in both volume and value for the quarter ending June 2015. There were 81 sales recorded for the most recent quarter at a total value of $269.8 million, compared to 161 sales at a total value of $464.8 million for the quarter ending March 2015. The most recent quarter’s sales compare favourably with the quarter ending December 2014, however, when there were 60 sales recorded at a total value of $241.7 million. The 12-month totals for the year ending June 2015 have increased, with 348 sales at a total value of $1,418.7 billion, compared to 239 sales at a total value of $1,018 billion for the previous year.

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

South Sydney Cityscope Quarterly Sales

Notable sales in the areas covered by South Sydney Cityscope in the June 2015 update include:

  • A 17,900-sqm area in the proposed Green Square Town Centre development at 105 – 115 Portman Street, Zetland, which sold for $82 million;
  • A 93,810-sqm area of vacant land at Coal Pier Road, Banksmeadow, which sold for $33.1 million; and
  • A large high-clearance warehouse with parking for 75 vehicles at 2 Baker Street, Banksmeadow, which sold for $20.34 million.

Properties for sale in South Sydney Cityscope in June 2015 include:

  • A 1.35-hectare area in the proposed Green Square Town Centre development, known as Southern Precinct/Stage 4, at 377 – 397 Botany Road, Zetland, available through JLL Sydney;
  • Two warehouses on a 11,470-sqm site with parking for 30 vehicles at 1 – 3 Ricketty Street, Mascot, available through Knight Frank; and
  • A high-clearance warehouse with office space at 683 Gardeners Road, Mascot, and another high-clearance warehouse with office space at 671 – 675 Gardeners Road, Mascot, are available together as a development site through Colliers International.

Leasing opportunities in South Sydney Cityscope in June 2015 include:

  • PortAir Industrial Estate, a complex of ten high-clearance warehouses at 1A Hale Street, Botany, which has industrial space of 2,000 to 20,000 sqm available through Goodman International and Colliers International South Sydney;
  • Gateway 241, a 12-storey office building at 241 O’Riordan Street, Mascot, which has 261 to 13,727 sqm available through Colliers International South Sydney; and
  • Botany Grove Business Park, a complex of five high-clearance warehouses at 14A Baker Street, Banksmeadow, which has 2,033 to 7,524 sqm available through Colliers International South Sydney and Goodman International.

South Sydney Cityscope Quarterly Sales graph

 

CoreLogic RP Data Commercial


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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About Commercial Research

CoreLogic RP Data Commercial Cityscope is a web-based service. Access is sold by geographic regions (Cityscope areas). There are 25 geographic regions across Australia (three in New Zealand), clustered around the cities of Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra and Newcastle. Darwin and Hobart CBD centres aren’t covered. Cityscope Areas in NSW and QLD also include lease expiry data for the most complete commercial coverage available. For more information call 1300 734 318.

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