The latest research from Norwest Cityscope shows property sales for the quarter to July 2021 have decreased in terms of total value.
For the three months to July 2021, a total value of $26.4 million recorded from 27 sales, a decrease compared to the total value of $49.9 million from 14 sales in the three months to April 2021, but an increase compared to the total value of $19.5 million from 17 sales in the three months to January 2021.
This data brings the 12-month total to $121 million, a decrease from the $146.8 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 July 2021 update of Norwest Cityscope include:
- Lot 80, known as suite 4.01 in Versatile, at 29-31 Lexington Drive, Bella Vista. Versatile comprises of two five-storey commercial buildings, connected by a three-level atrium foyer, completed in July 2008. Lot 80 comprises 132 sqm on level four and 578 sqm on the roof level plus 5 car spaces on the basement level, which was bought with 14 car parking spaces on the basement and mezzanine levels for a $3.6 million;
- Suite 304 in Esplanade Norwest Lake, at 11-13 Solent Circuit, Norwest. Esplanade Norwest Lake is a $280 million two-tower project, comprising one 19-storey tower containing 115 residential units built above a 4-storey commercial podium and ground floor retail and another 19-storey tower containing 137 residential units built above a 5-storey car park for 652 cars and ground floor retail. Suite 304 is a 213 sqm office with a balcony on level 3 plus two parking areas of 64 sqm and 60 sqm including storage on basement level one, which was bought for $1.9 million; and
- Lot 17 and lot 18, known as units B5 and B6 in The Solent Centre at 1-3 Burbank Place, Norwest. The Solent Centre comprises three office buildings of two to three storeys, completed in 2002. Lot 17 is a 141 sqm office suite on level 2 of Building B, a 2-storey office building, with 28 sqm of parking on level 1, 29 sqm parking area on level 2 and a 12 sqm storage area on level 1, which was bought together with lot 18, a 143 sqm office on level 2 in the same building, with 27 sqm parking area on level 1, 39 sqm parking area on level 2 and a 12 sqm storage area on level 1, for $1.7 million through Partner commercial Property – Norwest.
Some strata properties for sale in the July 2021 update of Norwest Cityscope include
- Lot 42, known as Suite 404 in 10 Norwest Central at 10 Century Circuit, Norwest, comprising 168 sqm on level four and 95 sqm of parking on the ground floor and basement level two, which is for sale with an asking price of $1.35 million through Coutts Real Estate – North West;
- Lot 14, known as Suite 111 in Zhen: Norwest at 33 Lexington Drive, Bella Vista, a five-storey office building with two towers. Lot 14 comprises 163 sqm on level 1 of the east tower and six car spaces (82 sqm total) on parking level 1, which is for sale through Norwest Commercial & Industrial - Baulkham Hills; and
- Suite 307 in Esplanade Norwest Lake, at 11-13 Solent Circuit, Norwest, comprising 114 sqm office with a balcony on level 3 plus a 69 sqm parking area including storage on basement level 1, which is for sale through Cushman & Wakefield - Sydney.
Leasing opportunities in the July 2021 update of Norwest Cityscope include:
- Century Estate at 2 -12 Inglewood Place, Norwest, a group of commercial and industrial buildings built in 2003. The building at 2 Solent Circuit is a 2-storey office building with a single-storey, high-clearance warehouse with on-grade parking. It has office space of 3,120 sqm over two floors and additional warehouse of 1,573 sqm available for lease through PRDnationawide Norwest and Norwest Commercial & Industrial - Baulkham Hills;
- Burbank Corporate Centre at 2 - 4 Burbank Place, Norwest, comprising two office buildings of 4 and 7 storeys, with a total net lettable area of 11,596 sqm, which has office space ranging from 450 sqm to 6,000 sqm for lease through Partner Commercial Property - Norwest; and
- The Bond development at 8 Elizabeth Macarthur Drive, Bella Vista, currently under construction, to be a 7-storey commercial building comprising strata offices on levels 3 to 6, medical users on levels 1 and 2, a childcare centre one level 1 with independent basement access, lobby, retail and end of trip facilities on ground level and basement parking, which has office space ranging from 51 sqm to 6,014 sqm in the proposed development for pre-lease through Colliers International Sydney West and Norwest Commercial & Industrial – Baulkham Hills.
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