News & Research

Commercial Market Update - Norwest Cityscope January 2022

The latest research from Norwest Cityscope shows property sales for the quarter to January 2022 have decreased in terms of total value.

For the three months to January 2022, a total value of $48.4 million was recorded from 23 sales, a 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) but an increase compared to the total value of $26.3 million from 27 sales in the three months to July 2021. This data brings the 12-month total to $634.5 million, a large increase from the $123.1 million recorded the same time last year.

The table below shows sales recorded for the last eight updates of Norwest Cityscope.

A notable sale in the January 2022 update of Norwest Cityscope includes:

  • 24 Brookhollow Avenue, Norwest, a single-storey, arch-roofed warehouse and office building, with on-grade parking, on a large block of 9,250 sqm, which was bought for $21.52 million through Ray White Commercial Western Sydney and Colliers International.

Properties for sale in the January 2022 update of Norwest Cityscope include:

  • Lot 63, known as Suite 3.07 in Versatile at 29-31 Lexington Drive, Norwest, comprising 153 sqm on level three including a 26 sqm balcony, south east aspect, plus 4 car spaces on the basement level and 2 uncovered car spaces on level one, which is for sale through Coutts Real Estate North West;
  • Lot 2, known as Suite G02 in Macarthur Point at 25-27 Solent Circuit, Norwest, comprising 117 sqm on the ground floor and 72 sqm of parking space on the ground floor and the upper basement level, which is for sale with an asking price of $899,000 through Partner Commercial Property Norwest and
  • Lot 44, known as Suite 2.11 in Versatile at 29-31 Lexington Drive, Norwest, comprising 97 sqm on level two including a 12 sqm balcony, south east aspect, plus 2 car spaces and 2 uncovered car spaces on the mezzanine level, which is for sale through Coutts Real Estate North West.

Leasing opportunities in the January 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;
  • Lot 15 in Inglewood Business Centre at 5-7 Inglewood Place, Norwest, comprising 200 sqm on the lower ground floor and 80 sqm on the ground floor, with 61 sqm of parking on the lower ground floor and 14 sqm of parking on the ground floor, which is for lease as a food preparation/commercial kitchen facility through Taylor Nicholas Hills and
  • Lot 2, known as unit 2 in T1 Norwest at 14 Lexington Drive, Norwest, 373 sqm on the ground level, in the north east part of the building, plus 224 sqm on the eastern mezzanine level and 13 car spaces on the ground level, which has 353 sqm plus 10 car spaces for lease through Hills Central First National Castle Hill.

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