News & Research

Commercial Market Update - Pyrmont/Ultimo Cityscope July 2021

This quarterly update of Pyrmont-Ultimo Cityscope shows an increase in total sales value, with 32 sales at a total value of $234 million, compared to the 25 sales at a total value of $89.5 million for the quarter ending April 2021.

The 12-month total sales figure stands at $423.4 million for the year ending July 2021, with 92 sales recorded over that period, a small increase in terms of sales value from the previous 12 months ending July 2020, during which 94 sales were recorded with a total value of $419.2 million.

The table below shows sales recorded for the last eight updates of Pyrmont-Ultimo Cityscope:

Notable sales in the areas covered by Pyrmont-Ultimo Cityscope for the July 2021 update include:

  • Four Points by Sheraton, 88 Broadway, Chippendale, a 19-storey, 5-star 297-room hotel including two luxury suites, al fresco bar, restaurant, function space, gym and car parking, which was completed in 2018, was bought for about $150 million through JLL Hotels & Hospitality Group;
  • 13-15 Smail Street, Ultimo, a three-storey brick former warehouse building with roller door access to Smail Lane and a building area of 1,494 sqm on a block of 664 sqm, was bought for $14 million through CI Australia and City Alliance Property and
  • Suite 1 at Jones Bay Wharf, 26-32 Pirrama Road, Pyrmont, a 357 sqm office suite comprising a 168 sqm office suite plus a 54 sqm balcony and a 56 sqm walkway on level 3, a 140 sqm office suite on level 4 and a 49 sqm office suite on level 5 and Suite 3, a 206 sqm office suite comprising a 109 sqm office suite plus a 37 sqm balcony on level 3, a 73 sqm office suite on level 4 and a 24 sqm office suite on level 5, were bought together with car space/accessory units 229, 230, 231, 246 and 247 for $13 million.

Properties listed as for sale in the July 2021 update of Pyrmont-Ultimo Cityscope include:

  • 39-47 Regent Street, Chipendale, a six-storey commercial building, refurbished in 2017, with a building area of 3,844 sqm and a site area of 673 sqm, for sale through Karbon Property - Sydney, IB Property - Surry Hills and JLL - Sydney;
  • 25 Glebe Point Road, Glebe, a two-storey brick building with ground floor retail and a building area of 120 sqm, which is for sale through Laing + Simmons - Glebe and
  • Lot 5, 16-30 Bunn Street, Pyrmont, a 64 sqm retail space on the ground level which is for sale with an asking price of $1.2 million through Pyrmont City First National Real Estate.

Leasing opportunities listed in the July 2021 update of Pyrmont-Ultimo Cityscope include:

  • 1-3 Smail Street, Ultimo, comprises two separate buildings that were amalgamated by Grace Brothers Ltd in 1949 with the building fronting Smail Street built as an eight-storey warehouse, which has retail space of 194 sqm on ground, office space of 1,100 sqm on level 5 and 482 sqm on level 7 available for lease through Karbon Property Sydney;
  • 44 Bay Street, Ultimo, a three-storey brick warehouse converted into an office building with ground floor security parking, which has office space ranging from 250 to 1,191 sqm available through Colliers International Sydney and CBRE South Sydney and
  • 201-205 Glebe Point Road, Glebe, a 2-storey mixed use building with 2 ground level retail tenancies and five 2-bedroom apartments, one at ground floor and four at first floor level and enclosed car parking for 5 cars via rear lane, has Shop 1 of 102 sqm and Shop 2 of 151 sqm available through X Commercial South Sydney.


CoreLogic Australia

CoreLogic Australia

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