Sydney CBD commercial properties sales decline: Cityscope
Sydney CBD commercial property sales have decreased compared to the previous quarter, according to property data firm CoreLogic's latest Cityscope.
The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending May 2017 have decreased in total value from the preceding quarter.
There were 73 sales recorded for the most recent quarter with a total value of $796.7 million, as compared to 93 sales for a total of $1.213 billion for the quarter ending February 2017 and the 104 sales for a total of $1.004 billion for the quarter ending November 2016.
For the year ending May 2017, there were 359 sales recorded for a total of $4.867 billion, compared to 382 sales for a total of $8.714 billion for the year ending May 2016.
The table below shows sales recorded for the last eight updates of Sydney Cityscope:
Recent notable sales in Sydney include:
- Exchange Centre at 20 Bridge Street, Sydney, also referred to as the ASX Building, a 16-level commercial building with two levels of basement parking for 34 cars, providing total building area of 20,328 sqm, which sold for $340 million in a deal handled by Savills;
- 59 Goulburn Street, Sydney, formerly known as Sydney Plaza, a 28-level 19,721 sqm office building with retail space on ground floor and three levels of parking for 126 cars, which is contracted to sell for $158 million and
- Dudley House at 468-472 George Street, Sydney, a six-storey office building plus basement with a net lettable office area of 788 sqm, together with the next door property at 458-466 George Street, a 2-storey building with four shops at street level, which sold for $116 million through Knight Frank.
Properties for sale in Sydney Cityscope in May 2017 include:
- A half share in the MLC Centre at 19 Martin Place, a 67-level office and retail complex including the office section, 90 shops, a tavern and the Theatre Royal, providing 67,900 sqm of office space and 5,200 sqm retail area plus 297 car parking spaces, which is for sale by expressions of interest closing 6 June 2017 through Savills and JLL Sydney;
- The developable airspace above the Clarence Street entrance to Wynyard Walk at 26-38 Clarence Street, a five-storey structure with three levels below ground and two levels above ground on a site of about 725 sqm, zoned B8 Metropolitan, which is for sale by expressions of interest closing 29 June 2017 through CI Australia Sydney; and
- Level 1 at 352 Kent Street, whole level one of 184 sqm office space in an eight-storey office building, is for sale by auction on 6 June 2017 through Noonan Property.
Properties with space for lease in Sydney Cityscope in May 2017 include:
- AON Tower at 201 Kent Street, a 34-level tower, including a retail plaza at ground level, four levels of basement parking and three plant levels with a net lettable area of 40,176 sqm, which has office space from 210 to 7,200 sqm available through Colliers International;
- The ACE Building at 28 O’Connell Street, a 15-storey building with two basement levels for 35 cars, which has office space from 115 to 4,000 sqm available through Ray White Commercial Office Leasing and Cushman & Wakefield;
- 201 Elizabeth Street, a 42-storey building with Foodbase on the lower ground floor, a two-storey annexe and two levels of basement parking for 175 cars, which has office space from 184 to 4,923 sqm available through Colliers International; and
- 9 Hunter Street, a 21-level office building plus a single-level gymnasium and sports centre, which has office space from 945 to 3,794 sqm available through Knight Frank and Colliers International.