Commercial Market Update – Auckland Cityscope

The latest research from Auckland Cityscope shows that property sales have decreased over the past three months. In the three months to February 2016, there were 37 sales for a total of $315.3 million, as compared with 54 sales for a total of $332.9 million recorded for the three months to November 2015 and 58 sales for a total of $219.1 million recorded for the three months to August 2015. This latest data brings the total sales for the 12 months to February 2016 to $1.007 billion, a decrease from the $1.310 billion in sales recorded to the same time last year.

The table below shows sales recorded for the past eight updates of Auckland Cityscope:
Auckland Cityscope Quarterly Sales

 

Recent standout sales in Auckland Cityscope include:

  • 49 Symonds Street, Auckland Central, an office tower of 15 levels, including two levels of basement parking, with a net lettable area of 10,860 sqm, sold for $49.7 million;
  • 34 Shortland Street, Auckland Central, a 17 storey, B-grade building, comprising of three levels of basement parking, a lobby floor, 10 levels of offices plus two plant and machinery floors, sold for $44.5 million;
  • 56 Wakefield Street, Auckland Central, which includes the Wakefield Centre Car Park, a 17 storey building with eight levels of parking, eight levels of office space and an observation deck on level 17, sold for $43 million.

Properties for sale in the February 2016 update of Auckland Cityscope include:

  • Flight Centre House, at 124 Vincent Street, Auckland Central, an 11 level office building including three basement levels for parking, available through Bayleys;
  • 31 Beach Road, Auckland Central, a 2 storey warehouse and garage built in the 1920s, with a building area of 410 sqm, for sale at auction on 2nd March 2016 through Bayleys;
  • 21 Emily Place, Auckland Central, a 2 storey building with parking for four cars and a building area of 475 sqm, for sale by tender closing 25th February 2016 through Barfoot & Thompson Commercial .Auckland Cityscope Quarterly Sales Graph

 

Notable leasing opportunities in the February 2016 update of Auckland Cityscope include:

  • Chorus House, at 66 Wyndham Street, Auckland Central, 23 storey office building, comprising of office and retail space, and a three level basement car park has office space of up to 1,050 sqm available for lease through CBRE;
  • 50 Cook Street, Auckland Central, a three storey building with parking for 28 cars in a rear yard has office and showroom space of 1,800 sqm available for lease through Bayleys;
  • Chancery Chambers, at 2-8 Chancery Street, Auckland Central, a seven-storey with a basement retail level, has office space ranging from 25 to 1,002 sqm available for lease through Colliers.

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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