Norwest, Sydney commercial property insights: CoreLogic RP Data Citiscope

The latest research from Norwest Cityscope shows a substantial decrease in the total value of sales over the last quarter.

For the three months to April 2015, there were 35 sales at a total value of $64.6 million, compared to 38 sales at a total value of $148.1 million for the three months to January 2015.

However, the most recent quarter shows an appreciable increase to the quarter ending October 2014, when there were 35 sales at a total value of $15.2 million.

The figures for the year ending April 2015, of 146 sales at a total value of $247.6 million, represent a considerable increase on those for the year ending April 2014, when there was a total of 142 sales at a total value of $128.3 million.

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

• Part of Hills Corporate Centre, 15 Brookhollow Avenue, Baulkham Hills, a two-storey office building with warehouse space, available through Coutts Industrial Real Estate; and
• An office/warehouse unit of 1,384 sqm with parking for 32 vehicles at 18 Lexington Drive, Bella Vista, at an asking price of $3.65 million through Norwest Commercial and Industrial.

Significant leasing opportunities in Norwest Cityscope include:

• Century Estate, a group of commercial and industrial buildings on a 54,390-sqm site with parking for over 500 vehicles at 2 Solent Circuit, Baulkham Hills, which has up to 3,120 sqm of office space available through Norwest Commercial and Industrial;
• The aforementioned Norwest Quay, which has up to 2,640 sqm of office space available through Colliers International Sydney West and Norwest Commercial and Industrial; and
• Norwest C3, a group of three four-storey office buildings with a net lettable area of 15,099 sqm and parking for 682 cars at 3 Columbia Court, Baulkham Hills, which has office space of 450 to 2,200 sqm available through Norwest Commercial and Industrial and CastleCorp Real Estate (pictured above).

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

• Norwest Quay, a four-storey office building with a net lettable area of 10,836 sqm and basement parking for 427 vehicles at 21 Solent Circuit, Baulkham Hills, which sold for $38,915,306;
• A 16,000-sqm site of vacant land at 26 – 28 Norbrik Drive, Bella Vista, which sold for $5,202,344; and
• The 8,170-sqm site of the Quest Serviced Apartments development at 24 Norbrik Drive, Bella Vista, which sold for $3,550,000.