The latest research from Macquarie Park Cityscope shows that commercial property sales have decreased in both values and volumes in the past three months.
Sales recorded in the quarter to August 2021 totalled $193.5 million from 14 sales, compared to the $546.9 million from 17 sales in the three months to May 2021 and the $400 million from 11 sales in the three months to February 2021.
This data brings the twelve-month total close to $1.65 billion from 57 sales, an increase in total value from the previous twelve-month total of $739 million from 74 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the August 2021 update of Macquarie Park Cityscope include:
- Glade View Business Park at 436-484 Victoria Road, Gladesville, two industrial warehouse/office buildings of 5 and 3 storeys with parking for 420 cars, built in 1991 with a total net lettable area of 20,900 sqm and typical floor about 2,700 sqm, which was bought for $55 million;
- 37 Epping Road, Macquarie Park, a four-storey office showroom complex comprising 5,752 sqm office space, 2,522 sqm showroom space and parking for 232 cars, completed in 2003 and partially refurbished in 2005, which was bought for $53.1 million through agents CBRE and Knight Frank Sydney; and
- A 99-year leasehold interest in 11 Murray Rose Avenue, Sydney Olympic Park, a 6-storey commercial building comprising ground floor retail, 5 levels of commercial floor space with a net lettable area of 5,684 sqm and 2 basement levels for 63 cars, completed late 2017, which was bought for $52 million through GJS Property, Knight frank Sydney and Knight Frank North Sydney.
Properties listed as for sale in the August 2021 update of Macquarie Park Cityscope include:
- 25 Buffalo Road, Gladesville, a high clearance warehouse and factory buildings with parking, on a site of 1,821 sqm, which is for sale through X Commercial – South Sydney;
- 14-16 Orion Road, Lane Cove West, currently a block of native bush, partly cleared and fenced vacant land of 7,922 sqm, which has a development application lodged for the construction of a part 2 and part 3-storey 48-unit warehouse/office ranging from 95 sqm to 301 sqm and 51 storage units of sizes from 20 sqm to 75 sqm, are for sale off the plan through Colliers International North Sydney and CBRE North Sydney; and
- Lot 10 at 92A Talavera Road, Macquarie Park, a block of 2,780 sqm land is for sale through JLL Sydney.
Leasing opportunities listed in the August 2021 update of Macquarie Park Cityscope include:
- 67 Mars Road, Lane Cove West, a two-storey office and warehouse building to Mars Road with a large warehouse to the rear and a yard to Sirrius Road, used for parking, which has warehouse and office space ranging from 1,100 sqm to 5,500 sqm available through Sutton Anderson;
- 1 Innovation Road in Macquarie Park, An A grade 5-storey office building with two and a half levels of basement parking for 218 cars, completed in late 2004, which has office space ranging from 921 to 3,010 sqm available through Cushman & Wakefield – Sydney; and
- MQX4 development, 2 Collinga Street, Macquarie Park, at foundation stage in August 2021. To be an A-grade 9-storey building comprising 17,753 sqm of lettable office space over 8 levels with 1,631 sqm of ground floor retail space and 204 car spaces, and 396 Lane Cove Road, Macquarie Park (NR9.9B), currently a 2-storey building with offices to Lane Cove Road, workshops, high-clearance warehouses and parking to Waterloo Road. To be part of the development site known as Macquarie Park Exchange, which has office space ranging from 2,000 to 30,000 sqm for pre-lease through GJS Property and JLL North Sydney.
CoreLogic Australia