Commercial Market Update – South Sydney Cityscope

The latest research from South Sydney Cityscope shows property sales for the quarter to March 2016 have decreased significantly in terms of total value. Sales recorded in the most recent quarter totalled $286.9 million from 51 sales, as compared to the $388.6 million from 64 sales in the quarter to December 2015 and the $163 million from 91 sales recorded in the quarter to September 2015. This quarter brings the twelve-month total value of sales to $1.115 billion from 290 sales, a decrease from the $1.429 billion from 360 sales recorded for the previous year.

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

Some notable sales in the March 2016 update of South Sydney Cityscope include:

  • Virginia Park, the Australian headquarters of British American Tobacco at 128 Bunnerong Road, Pagewood, consisting of a three storey office building with a series of single storey factories and warehouse buildings on a 60,880 sqm-site, which was sold for $90 million;
  • 683 Gardeners Road and 671-675 Gardeners Road, Mascot, both consisting of a high-clearance warehouse with a section of two level office space on a combined site area of 7,177 sqm, which were sold as a development site for $67 million, in a deal handled by Colliers International; and
  • Vacant land at 32 Page Street, Banksmeadow, with a site area of 18,900 sqm, which was sold as a development site for $41 million, in a deal handled by JLL.

Properties for sale in South Sydney Cityscope in March 2016 include:

  • Two properties offered as a residential development site at 1559 Botany Road and at 1561-1563 Botany Road , Botany, with a total site area of 1,711 sqm, scheduled for auction on 22 March 2016; agents Colliers International and Taylor Nicholas South Sydney;
  • The Ondeo Nalco facility at 3-5 Anderson Street, Banksmeadow, on a site area of 20,350 sqm, available as two separate lots by expressions of interest through JLL Mascot, JLL Parramatta and Rook Salinger; and
  • Vacant land with a site area of 37,380 sqm at 28 McPherson Street, Banksmeadow, through Colliers International.

South Sydney Cityscope Quarterly Sales graph

Leasing opportunities in the March 2016 update of South Sydney Cityscope include:

  • 1 Hale Street, Botany, consisting of three high-clearance warehouse buildings and parking for 312 cars, which has industrial/warehouse space ranging from 150 to 9,150 sqm for lease through CBRE and Goodman International;
  • Alexandria Industrial Estate at 46-64 Maddox Street, Alexandria, comprising of ten single and two storey high-clearance warehouse buildings with office areas, which has industrial space ranging from 971 to 2,030 sqm for lease through Goodman International;
  • City Close at 37-41 O’Riordan Street, Alexandria, consisting of 16 units in a complex of high-clearance warehouses with ground floor office/showroom areas, mezzanine offices and parking for 184 cars, which has office and industrial space ranging from 1,240 to 2,883 sqm for lease through JLL Mascot and CBRE South Sydney; and
  • Gateway 241 at 241A O’Riordan Street, Mascot, a 12 storey office building with four basement parking levels with 405 spaces and a net lettable area of 19,830 sqm, which has office space ranging from 216 to 11,848 sqm for lease through 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 RP Data 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 RP Data Commercial Pulse! Click here to subscribe

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.

Connect with CoreLogic

Enter your email address to subscribe to our e-newsletter, and have new posts delivered via email. You can also connect with CoreLogic on social media.

No comments yet.

Leave a Reply

Notify me of followup comments via e-mail. You can also subscribe without commenting.