The latest research from Eastern Sydney Cityscope shows commercial property sales values have decreased in the past three months.
Sales recorded in the quarter to April 2021 totalled $133.9 million from 25 sales, a decrease from the $152.6 million from 26 sales recorded in the quarter to January 2021 but an increase from the $90.2 million recorded in the quarter to October 2020.
This data brings the 12 month total to $414.6 million, a slight increase from the $412 million recorded the same time last year.
The table below shows sales recorded for the past eight updates of Eastern Sydney Cityscope.
Notable sales listed in the April 2021 update of Eastern Sydney Cityscope include:
- 42 Reservoir Street, Surry Hills, a two-storey commercial building with two retail suites on the ground floor and backpacker accommodation on the upper floor; 238-240 Elizabeth Street, Surry Hills, a three-storey building to Elizabeth Street with ground floor retail and backpacker accommodation on the upper floors and a single-storey extension to Reservoir Street with retail and 232-236A Elizabeth Street, Surry Hills, a three-storey residential building with ground floor retail, comprising a 299 sqm area and a 26 sqm area on the ground floor and a 26 sqm area on the first floor plus the residential component on the upper floors which were bought together as a development site for $33 million;
- Piccadilly Court at 356-366 New South Head Road, Double Bay, a 3-storey commercial building with retail on ground with a building area of 874 sqm, which was bought for $21 million and
- 26 Hall Street, Bondi Beach, a 2-storey brick building with onsite parking at rear on a 513 sqm block, which was bought for $17 million.
Properties listed as for sale in the April 2021 update of Eastern Sydney Cityscope include:
- Companies House at 74-76 Campbell Street, Surry Hills, a three-storey brick commercial building with an 80 sqm rooftop terrace and a rear courtyard of 30 sqm and building area of 610 sqm, which is for sale through Deans Property – Broadway;
- 10 Oxford Street, Woollahra, a 2-storey terrace building with a net lettable area of 140 sqm on a site of 95 sqm, which is for sale through Metro Commercial Double Bay and
- Lot 8 at 100 New South Head Road, Edgecliff, a 182 sqm commercial unit on level 1 in a 4-storey commercial building plus a 52 sqm car space on parking level 2, which is for sale through Carrington Group.
Leasing opportunities listed in the April 2021 update of Eastern Sydney Cityscope include:
- 19 - 23 Hollywood Avenue, Bondi Junction, a three-storey office and retail building with two levels of basement parking for 51 cars, which has office space of 1,000 sqm on level 2 and part of level 1 for lease through Richardson & Wrench Commercial – Eastern Suburbs;
- York House at 101-115 William Street, Darlinghurst, a four-storey inter-war building to the west and a three-storey brick building to the east, which has office space ranging from 44 to 1,127 sqm for lease through Colliers International and
- Terrace Tower at 80 William Street, Woolloomooloo, a 20-storey office building with basement parking for 108 cars and a net lettable area of 18,500 sqm, which has office space ranging from 78 to 780 sqm for lease through CBRE South Sydney.