The latest research from Macquarie Park Cityscope shows that commercial property sales have decreased in both value and volume in the past three months.
Sales recorded in the quarter to February 2021 totalled $400 million from 11 sales, compared to the $509 million from 15 sales recorded in the three months to November 2020 but a large increase from the $8.1 million from 4 sales recorded in the three months to August 2020.
This data brings the twelve-month total close to $1.008 billion from 41 sales, an increase in total value from the previous twelve-month total of $839 million from 124 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the February 2021 update of Macquarie Park Cityscope include:
- Thomas Hold Drive at 1-5 Thomas Holt Drive, Macquarie Park, comprising three office/warehouse buildings of six to nine storeys, providing total building area of about 39,370 sqm and parking for a total of 1,107 cars, completed in 1989 and 1990, with an extension added to one building in 2005 and another refurbished in 2016, which was bought for $288.9 million;
- Media & Technology Park at 706 Mowbray Road West, Lane Cove North, also known as Panorama Business Park, a three-storey office and warehouse complex comprising two three-storey office buildings, two warehouse levels and parking for 324 cars over ground and three basement levels, completed in 1987 with a net lettable area of 17,204 sqm and typical floor plate of 760 sqm, which was bought for $63 million and
- Precinct 33 at 31-33 Sirius Road, Lane Cove West, a 3-level brick building comprising four warehouses on the ground level, office space on level one and a high-clearance warehouse and parking for 79 vehicles on basement level on a site of 6,505 sqm, which was bought for $19.5 million.
Properties listed as for sale in the February 2021 update of Macquarie Park Cityscope include:
- 68 Waterloo Road, Macquarie Park, a five-storey office and research building with three basement level and a net lettable area of 13,486 sqm, completed in early 2000, which is for sale through JLL Sydney and CBRE;
- 127-131 Bowden Street, Meadowbank, a two and three-storey office building with ground floor parking for about 40 cars, with a building area of 2,093 sqm, which is for sale through Knight Frank Sydney and
- Three Office suites at 1 Chaplin Drive, Lane Cove West, Suite 12, 51 sqm on level 2 and a car space; Suite 13, 81 sqm on level 2 and 3 car spaces and Suite 14 89 sqm on level 2 and 3 car spaces, in a three-storey office building with basement and ground level parking for 53 cars, completed in 2005, which are for sale together through Kennedy Learmont.
Leasing opportunities listed in the February 2021 update of Macquarie Park Cityscope include:
- Building B, Rhodes Corporate Park at 1B Alfred Street, Rhodes, a 6-storey concrete and glass commercial building with a net lettable area of 12,799 sqm and three levels of basement parking for 278 cars, completed in 2003, which has office space ranging from 944 sqm to 7,488 sqm available through GJS Property and Knight Frank North Sydney;
- Building F, Rhodes Corporate Park, a 7-storey concrete and glass commercial building with a net lettable area of 5,700 sqm and five levels of basement parking for 375 cars, completed in December 2012, which has office space ranging from 316 sqm to 4,243 sqm available through Colliers International – Sydney and GJS Property and
- Riverview Park Estate at 166 Epping Road, Lane Cove West, comprising two 3-storey office buildings joined by a central 2-storey atrium plus two levels of basement parking with a total building area of 7,133 sqm and parking for 236 cars in the basement levels and outside, which has office space ranging from 161 sqm to 4,298 sm available through Hockeys Real Estate.
CoreLogic Australia