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 January 2020 totalled $62.1 million, a decrease from the $175.8 million recorded in the quarter to October 2019 but an increase from the $60.7 million recorded in the quarter to July 2019.
This data brings the 12 month total to $388.7 million, a decrease from the $696.3 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 January 2020 update of Eastern Sydney Cityscope include:
- 27-29 Knox Street, Double Bay, Comprising of two single-storey buildings that were refurbished in 2018 and are on a block of 231 sqm, was bought for $9.83 million through CBRE - North Sydney and BadgerFox;
- Elbon Arcade at 402-404 New South Head Road, Double Bay, A 3-storey retail/commercial building on a block of 256 sqm, was bought for $9.3 million through Colliers International - Sydney and
- 464 Oxford Street, Bondi Junction, A two-storey retail and commercial building with a site area of 327 sqm, was bought for $8 million.
Properties listed as for sale in the January 2020 update of Eastern Sydney Cityscope include:
- Four shops in the Foveaux Apartments, at 69-81A Foveaux Street, Surry Hills, currently all tenanted and located on the ground floor of a nine-storey residential building, available through Colliers International - Sydney;
- Lot 10, 417-439 Bourke Street, Surry Hills, a 113 sqm ground floor retail unit in the Jasper Building, comprising a terrace plus 1 car space in the basement, available with an asking price of $2.2 million in January 2020 through Metro Realty and
- Lot 1 at 78 Bronte Road, Bondi Junction, a retail unit comprising 116 sqm on the lower ground floor and 49 sqm on upper ground floor, available through Richardson & Wrench Commercial Eastern Suburbs.
Leasing opportunities listed in the January 2020 update of Eastern Sydney Cityscope include:
- Briad House at 491-493 Elizabeth Street, Surry Hills, a five-storey brick commercial building with a net lettable area of 1,100 sqm and parking for 5 vehicles which has 220 to 660 sqm available for lease through Gunning Commercial Surry Hills;
- 241 Commonwealth Street, Surry Hills, a nine-storey commercial building, which has office space of 620 sqm on both levels 4 and 5 available for lease through LJ Hooker Commercial South Sydney and
- 54-66 Wentworth Avenue, Surry Hills, a nine-storey commercial building with retail on the ground floor, and two mezzanine levels with parking for 23 cars, which has office space of 645 sqm on level 3 available for lease through W T Newey & Co.