News & Research

Commercial Pulse Update - North Sydney Cityscope April 2022

The latest research from North Sydney Cityscope shows property sales for the quarter to April 2022 have significantly decreased in terms of both total value and number.

Sales recorded in the most recent quarter totalled $156.5 million from 25 sales, as compared to the $2.271 billion from 69 sales in the quarter to January 2022 and the $224.5 million from 33 sales recorded in the quarter to October 2021.

This quarter brings the twelve-month total value of sales to $2.827 billion from 167 sales, an increase from the $1.278 billion from 108 sales recorded for the previous year.

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

NS Sales Grid

Notable sales in the April 2022 update of North Sydney Cityscope include:

  • 51 Berry Street, North Sydney, a 6-storey office building with retail space on the ground level and two basement parking levels for 42 cars with a net lettable office area of 3,540 sqm, completed in September 1981 and refurbished in 1995 and again in 2018, which was bought for $60 million;
  • 15 Falcon Street, Crows Nest, a 4-storey building with basement parking and shops at street level with a net lettable area of 1,023 sqm on a 526 sqm block, which was bought for $25.25 million; and
  • Moss Apartments at 48 Albany Street, St Leonards, a 6-storey mixed use building consisting of a retail tenancy of 89 sqm on ground, six serviced apartments on first floor and 25 boarding house rooms on upper levels and parking for 4 vehicles, 3 motorcycle spaces and bicycle parking, which was bought for $21.36 million.

NS sales chart

Properties listed as for sale in the April 2022 update in the areas covered by North Sydney Cityscope include:

  • 313 Pacific Highway, Crows Nest, a site of 436 sqm with development approval for a 4-storey mixed use development with retail/commercial, boarding house with 36 rooms, rooftop communal facilities and basement parking, currently a two-storey retail building with gross floor area of 536 sqm, for sale as a development site through JLL – Sydney;
  • 257-259 Military Road, Cremorne, a two-storey building with ground floor retail and first floor commercial, net lettable area is 768 sqm on a 563 sqm block, which is for sale through Ray White Commercial NSW Sydney North and Ray White Commercial Lower North Shore and
  • 139 Military Road, Neutral Bay, a 2-storey retail and commercial building with a net lettable area of 397 sqm on a 258 sqm block, which is for sale via auction through CI Australia.

Leasing opportunities in the April 2022 update in the areas covered by North Sydney Cityscope include:

  • 601 Pacific Highway, St Leonards, a13-storey office/retail building with parking for 155 cars on three additional basement levels and a separate 2-storey building, which has office space ranging from 295 to 2,735 sqm available for lease through JLL North Sydney, Cadigal – North Sydney and Stockland Commercial Property;
  • Coca Cola Place at 40 Mount Street, North Sydney, a 21-storey A-grade office building with basement parking, completed in May 2010, which has office space ranging from 1,727 to 5,693 sqm for lease through Cushman & Wakefield Sydney and Investa Property Group and
  • 141 Walker Street, North Sydney, a 24-storey office building completed in 1987. The building comprises basement parking for 209 cars, ground floor retail space and landscaped terrace and forecourt, ground and upper ground level shops and restaurants, and 22 floors of offices, which has office space ranging from 150 to 4,071 sqm available for lease through CBRE North Sydney.

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