The latest research from Norwest Cityscope shows property sales for the quarter to April 2022 have decreased in terms of total value.
For the three months to April 2022, a total value of $21.3 million was recorded from 13 sales, a decrease compared to the total value of $48.4 million from 23 sales in the three months to January 2022 and a large decrease compared to the total value of $509.9 million from 37 sales in the three months to October 2021 (mainly attributable to the sale of the Woolworths Corporate Headquarters at Bella Vista). This data brings the 12-month total to $605.9 million, a large increase from the $148.1 million recorded the same time last year.
The table below shows sales recorded for the last eight updates of Norwest Cityscope.
Notable sales in the April 2022 update of Norwest Cityscope include:
- Vacant land of 8,000 sqm at 12 Norbrik Drive, Bella Vista, which was bought for $8 million and
- Suite G06, a 125 sqm retail suite and a 14 sqm car parking space plus a 78 sqm exclusive use outdoor area on ground level and Suite G07, a 165 sqm retail suite and a 15 sqm car parking space plus a 6 sqm storage area and a 57 sqm exclusive use outdoor area on ground level, both at Esplanade Norwest Lake, 11-13 Solent Circuit, Norwest, were bought together for $3.4 million.
Properties for sale in the April 2022 update of Norwest Cityscope include:
- 7 Maitland Place, Norwest, currently vacant land but to be Infinity Park, a 6 to 8 storey commercial building comprising 95 office suites, ground floor food and drink premises, roof top restaurant with outdoor seating and basement car parking for 284 cars, which has office space ranging from 40 to 900 sqm in the proposed building available for sale off the plan through PRD Norwest;
- Lot 21, known as Suite 112 in Atlas Norwest at 2-8 Brookhollow Avenue, Norwest, comprising a 124 sqm area on level one, 86 sqm of parking on the mezzanine level and 56 sqm of parking on level one, which is for sale with an asking price of $1.7 million through Norwest Commercial & Industrial - Baulkham Hills and
- Lot 24, known as suites A201 to A202 in Norwest Sky City at 20 Lexington Drive, Norwest, comprising 348 sqm on level 2 of the South Tower (Building A) and 182 sqm of parking space on car park level 2 (south), which is for sale with an asking price of $2.52 million through Partner Commercial Property Norwest.
Leasing opportunities in the April 2022 update of Norwest Cityscope include:
- Burbank Corporate Centre at 2 Burbank Place, Norwest, a 7-storey building with 2 levels of basement parking, completed August 2007, with a net lettable area of 11,596 sqm and typical floor plates of 2,074 sqm, has office space ranging from 450 to 6,000 sqm through Partner Commercial Property Norwest;
- 17 Brookhollow Avenue, Norwest, a two-storey building with single-storey warehouse space, which has office/warehouse space of 771 sqm available for lease through Hills Central First National Commercial – Castle Hill and
- Lot 68, known as Suite 304 in Macarthur Point at 25-27 Solent Circuit, Norwest, comprising 96 sqm on level 3 and 59 sqm of parking on the lower basement level, which is for lease through Bawdens Sydney.
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