Commercial Market Update – North Sydney Cityscope

The latest research from North Sydney Cityscope shows sales have increased in total value in the quarter to April 2017. Sales recorded in the most recent quarter totalled $524.8 million from 68 sales, an increase in total value compared to the $376.3 million from 70 sales in the quarter to January 2017 but a decrease compared to the $566.9 million from 85 sales in the quarter to October 2016. This quarter brings the twelve-month total value of sales to $1.915 billion, a decrease from the $2.075 billion recorded for the previous year.

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

Notable sales for the April 2017 update of North Sydney Cityscope include:

  • 2 Elizabeth Plaza, St Leonards, a 14-storey commercial building with ground and mezzanine retail space and four basement levels of parking for 157 cars, which sold for $81 million. The sale represented an initial yield of 6.20% on passing income of $5,022,000;
  • Ogilvy House at 72 Christie Street, St Leonards, an A-grade eight-storey office building with basement parking for 228 cars, which sold for $76 million. The sale represented an initial yield of 8.50% on passing income of $6,460,000;
  • 30 Alfred Street, Milsons Point, a seven-storey building plus basement parking for 20 cars with net lettable area of 3,706 sqm, which sold for $50 million.

North Sydney Cityscope Quarterly Sales

Properties for sale in the areas covered by North Sydney Cityscope include:

  • Suite 102, 161 Walker House at 161 Walker Street, North Sydney, an office suite comprising 125 sqm on the first floor and one car space, for sale by auction on 9 May 2017 through Raine & Horne North Sydney;
  • 258 Military Road, Neutral Bay, a two-storey retail building on a site of 152 sqm, available through Richardson & Wrench – North Sydney;
  • 12 Ridge Street, North Sydney, a two-storey terrace house with a net lettable area of 140 sqm, available through LJ Hooker Commercial Sydney.

Leasing opportunities in the areas covered by North Sydney Cityscope include:

  • 116 Miller Street, North Sydney, an eight-storey building with banking and retail space on the ground, which has office space ranging from 500 to 1,424 sqm for lease through Cadigal Office Leasing North Sydney;
  • 141 Walker Street, North Sydney, a 24-storey office building with basement parking for 209 cars, ground floor retail space and landscaped terrace and forecourt, ground and upper ground level shops and restaurant and 22 floors of offices, which has office space of up to 4,697 sqm for lease through CBRE North Sydney and Dexus Property Group;
  • 101 Miller Street, North Sydney, a 35-level commercial building with 5 levels of basement parking for 561 cars, which has office space of up to 15,500 sqm for lease through Mirvac Group and Colliers International North Sydney.

 

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.


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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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