Commercial Market Update – Norwest Cityscope

The latest research from Norwest Cityscope shows a substantial increase in the total value of sales over the last quarter. This increase is primarily due to the settlement of the property at 7 Maitland Place, Baulkham Hills. For the three months to October 2015, there were 38 sales at a total value of $73.5 million, compared to 44 sales at a total value of $24.8 million for the three months to July 2015, and the 35 sales at a total value of $64.6 million for the three months to April 2015.

The figures for the year ending October 2015, with 155 sales at a total value of $311 million, represents a considerable increase on those for the year ending October 2014, when there was a total of 141 sales at a total value of $82.5 million.

The table below shows sales recorded for the last eight updates of Norwest Cityscope.

Norwest Cityscope Quarterly Sales

Notable sales recorded in the October 2015 update of Norwest Cityscope include:

  • 7 Maitland Place, Baulkham Hills, a two storey building with parking for about 140 cars and a net lettable area of 6,193 sqm, comprising of office space, warehousing and pharmaceutical manufacturing space, sold for $18 million
  • 6 Celebration Drive, Bella Vista, a single storey building with a garden and customer parking on a site area if 3,177 sqm, sold for $13 million
  • 17-19 Lexington Drive, Bella Vista, a two storey commercial building comprising of 4,200 sqm of office and warehouse space, as well as on-grade and basement parking, sold for $8 million.

Significant properties for sale in the October 2015 update of Norwest Cityscope include:

  • The Woolworths Corporate Headquarters, 1 Woolworths Way, Bella Vista, three large interconnected four storey office buildings with basement level parking for 2,341 cars, is for sale through JLL and Savill.
  • Suite 108 in Alpha, 5 Celebration Dive, Bella Vista, an office suite in a 6 and 7 storey office building with basement parking, the suite has 4 car spaces and is for sale by auction on 5 November 2015 through Norwest Commercial and Industrial Real Estate
  • Unit 319 and Unit 320 in Nexus Norwest, 4 Columbia Court, Baulkham Hills, a five storey office building with ground level and basement parking. The two units comprise a net lettable area of 194 sqm and a combined 7 car spaces. For sale through Castlecorp Real Estate.

Norwest Cityscope Quarterly Sales graph

Significant leasing opportunities in Norwest Cityscope include:

  • Unit 5 at T1 Norwest, 14 Lexington Drive, Bella Vista, a five storey office building with parking on every level, has office space of 914 sqm and warehouse space of 700 sqm available through Castlecorp Real Estate, Knight Frank Parramatta, Taylor Nicholas Hills and Norwest Commercial Industrial
  • 8 Solent Circuit, Baulkham Hills, a two storey office and warehouse building with parking to the rear and side and a building area 4,876 sqm has up to 1,535 sqm available through Norwest Commercial and Industrial Real Estate.

 

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 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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