The latest research from Macquarie Park Cityscope shows that commercial property in both sales value and volume has increased in the past three months. Sales recorded in the quarter to May 2021 totalled $546.7 million from 17 sales, compared to the $400 million from 11 sales in the three months to February 2021 and the $509.1 million from 15 sales in the three months to November 2020.
This data brings the twelve-month total close to $1.464 billion from 47 sales, a significant increase from the previous twelve-month total of $885.7 million from 124 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the May 2021 update of Macquarie Park Cityscope include:
- Macquarie Corporate Centre at 2 Banfield Road, Macquarie Park, a 12-storey office and retail building with 4 basement levels of parking for 280 cars with a building area of 14,874 sqm; completed in September 2020, which was bought for $144 million. The sale represented an initial yield of 5.1% on passing income of $7,344,000;
- Riverside Corporate Park at 3 Richardson Place, North Ryde comprising The Binary Centre Building 0, a 6-storey office and research building completed in late 2001 with a net lettable area of 9,953 sqm and typical floor plates of 1,350 sqm and the Binary Centre Building 1, a 6-storey office and research building completed in 2002 with a net lettable area of 7,900 sqm. Plus a three-level 635-space basement car park with a single storey cafe above, which were bought for $115 million. The sale represented an initial yield of 6.7% on passing income of $7,705,000 and
- 68 Waterloo Road, Macquarie Park, a five-storey office and research building with three basement levels, providing 402 spaces; completed in early 2000 with a net lettable area of 13,486 sqm, which was bought for $106.5 million. The sale represented an initial yield of 4.84% on passing income of $5,154,600.
Properties listed as for sale in the May 2021 update of Macquarie Park Cityscope include:
- Lot 13 in the North Star Business Park at 79-85 Mars Road, Lane Cove West, an industrial suite in the eastern building, comprising of 104 sqm on the ground floor, a 13 sqm area on the mezzanine, a 57 sqm area on level one and 42 sqm of parking on basement level three, which is for sale through Sutton Anderson and
- Lot 683, also known as shop 3, in the Prime at 101 Waterloo Road Macquarie Park, a 151 sqm retail unit including a courtyard on ground level of the podium plus a 26 sqm car space and storage area on ground level, which is for sale through Victory Lease Pty Ltd.
Leasing opportunities listed in the May 2021 update of Macquarie Park Cityscope include:
- Waterloo Business Park at 35 Waterloo Road, Macquarie Park, a three-storey office building to Waterloo Road plus two 2-storey office buildings and a high-clearance warehouse to the rear; completed in 1981 and refurbished in 2003. There is on-grade parking for a total of 257 cars with a total net lettable area of 11,699 sqm, which has warehouse and office space ranging from 103 to 1,559 sqm available for lease through Goodman Australia;
- 22 Carter Street, Lidcombe, a two-storey office/warehouse building to the front and a workshop to the rear with a total building area of about 3,809 sqm including 3,582 sqm warehouse and 227 sqm office with on-grade parking to the front for 62 cars, which has warehouse and office space of 3,809 sqm available for lease through CBRE Western Sydney and
- Link Business Park Building B at 22 Giffnock Avenue, Macquarie Park, a three-storey building, comprising a net lettable area of 7,531 sqm of office space over 2 levels with typical floor area of 1,190 sqm. There is on-site parking for 118 cars. To the rear, a 7-storey office building linked to the front building, with 2 levels of basement parking for 88 cars with a net lettable area of 9,786 sqm, which has office space ranging from 260 to 2,384 sqm available for lease through GJS Property, JLL North Sydney and JLL Parramatta.
CoreLogic Australia