The latest research from Eastern Sydney Cityscope shows property sales have significantly increased in the past three months. Sales recorded in the quarter ending January 2017 totalled $388 million, an increase from both the $120.5 million recorded in October 2016, and the $52.5 million recorded to July 2016. This data brings the 12 month total to $642.9 million, an increase from the $491.8 million recorded the same time last year.

The table below shows sales recorded for the past eight updates of Eastern Sydney Cityscope:

Eastern Sydney Cityscope Quarterly Sales

Notable sales listed in the January 2017 update of Eastern Sydney Cityscope include: 

  • Edgecliff Centre at 203-233 New South Head Road, Edgecliff, a seven-storey office building above a two-storey shopping centre with undercover parking. The centre has a total of 10,850 sqm comprising 2,928 sqm of retail space and 8,083 sqm of office space, was bought for $138.75 million in a sale handled by JLL and Knight Frank. The sale represented an initial yield of 3.72% on passing income of $5,161,500;
  • Mill Hill Hotel, a 3-storey hotel building at 59 Oxford Street and four two-storey retail/commercial buildings at 63 Oxford Street, 65 Oxford Street, 67 Oxford Street and 69-69A Oxford Street in Bondi Junction, were bought together as a development site for approximately $40 million in a sale handled by Rebel Property Group;
  • 4-10 Bay Street, Double Bay, a four-storey retail and office building with parking for 15 cars and The Fortress at 294-296 New South Head Road, Double Bay, an office building comprising two levels of office and retail space, one residential level and car parking for 13 cars, were bought for $35.325 million.

 

 

Properties listed as for sale in the January 2017 update of Eastern Sydney Cityscope include: 

  • 74 Oxford Street, Paddington, a two-storey building with ground level retail space and a residential apartment upstairs, available through Cubic Real Estate Chatswood;
  • Cross Court at 20-26 Cross Street, Double Bay, a two-storey building comprising 34 suites with a net lettable area of 1,065 sqm situated on a 1,265 sqm land, available as a development site through CBRE North Sydney;
  • Briad House at 491-493 Elizabeth Street, Surry Hills, a five-storey brick commercial building with net lettable area of 1,075 sqm, has parking for 5 vehicles, available through CMS Real Estate.

Leasing opportunities listed in the January 2017 update of Eastern Sydney Cityscope include:

  • 100 William Street, Woolloomooloo, a 24-storey, office building with basement parking has office space of 100 to 587 sqm through Colliers International and CI Australia;
  • The Exchange Building, a five-storey mixed use building comprising six retail shops, three levels of commercial space and two levels of basement parking has office space of 474 sqm on level 3 through CBRE South Sydney;
  • Warwick Chambers at 145 Redfern Street, Redfern, a two-storey commercial building with retail on the ground has 200 sqm of retail space and 100 sqm of office space through Metro Commercial (Double Bay).

Commercial Research