The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales value for the three months ending August 2021 has increased in total value from the preceding quarter.
There were 66 sales recorded for the most recent quarter with a total value of $1.260 billion, as compared to the 51 sales for a total of $512 million for the quarter ending May 2021 and the 29 sales for a total of $2.436 billion for the quarter ending February 2021.
For the year ending August 2021, there were 185 sales recorded for a total of more than $5.547 billion, compared to the 199 sales for a total of $5.075 billion for the year ending August 2020.
The table below shows sales recorded for the last eight updates of Sydney Cityscope:
Recent notable sales in Sydney Cityscope in August 2021 include:
- A 50% interest in the EY Centre at 200 George Street, Sydney, a 37-storey office tower comprising 33 office levels and 4 levels parking for 63 cars, incorporating the existing buildings at 190 and 200 George Street and 4 Dalley Street, an 11-storey former Dalley Telephone Exchange building refurbished for plant and servicing purposes, completed and officially opened in June 2016. It has a net lettable area of 38,983 sqm, which was bought for $575 million;
- 60 Carrington Street, Sydney, an 18-storey office building with basement parking for 21 cars. Built in 1971 and recently refurbished in 2016, with a gross floor area of 19,330 sqm comprising 13,862 sqm of commercial space and 686 sqm ground level retail, which was bought in two separate transactions by two parties for approximately $140 million each; and
- 50 Carrington Street, Sydney, a 19-storey building with one retail level and 20 basement car spaces. Net lettable area is 10,885 sqm with typical floor space of 825 sqm, which was bought in two separate transactions for a total of approximately $214 million.
Properties for sale in Sydney Cityscope in August 2021 include:
- B's Hotel at 390-396 Pitt Street, Sydney, a seven-storey brick building with office, retail space and hotel accommodation with a net lettable office area of 3,521 sqm. Internally redeveloped in late 2009 at an estimated cost of $7 million, which is available through Colliers International – Sydney;
- Lot 45 at 37 York Street, Sydney, 423 sqm office space on level 11 of a 15-storey strata commercial building with 4 strata shops on the ground floor plus parking, which is available through Colliers International – Sydney and
- Unit 10, known as suites 104-107, a 104 sqm office and unit 11, known as suite 103, a 26 sqm office at 229 Macquarie Street, Sydney, both on the first floor of The William Bland Centre, a 12-storey strata commercial building, completed in 1961 and refurbished 2001, which are available through Noonan Property - Sydney.
Properties with space for lease in Sydney Cityscope in Agust 2021 include:
- Foreshore House at 66 Harrington Street, The Rocks, a three-to-five-storey office building with security parking with a building area of 5,973 sqm. The building was refurbished in 2000 and upgraded again in 2017, which has office space ranging from 1,180 to 5,973 sqm available for lease through CBRE Sydney;
- 55 Market Street, Sydney, a 22-level commercial building, completed early 1990. Comprises 4 retail podium floors, 18 office floors and basement parking for 49 cars. Net lettable area is 22,000 sqm and typical floor size is 1,062 sqm, which has office space ranging from 124 to 8,924 sqm available for lease through Cushman & Wakefield – Sydney and
- 54 Park Street, Sydney, a 12-storey building built circa 1921, with extensions built to the south of the property in 1965. Net lettable office area is 15,950 sqm, which has office space ranging from 120 to 10,000 sqm available for lease through CBRE Sydney and JLL – Sydney.