The latest research from Macquarie Park Cityscope shows property sales for the three months to February 2018 have decreased from the preceding quarter. Sales recorded in the quarter ending February 2018 totalled $118.4 million, a decrease from the $183.5 million recorded in the three months to November 2017, and substantially from the $1.217 billion recorded in the three months to August 2017.
For the 12 month ending in February 2018, there were 86 sales at a total value of $2.108 billion, compared to 74 sales at a total value of $1.423 billion for the previous year.
The table below shows sales recorded for the past eight updates of Macquarie Park Cityscope.
Notable sales in the February 2018 update of Macquarie Park Cityscope include:
- 18-20 Orion Road, Lane Cove West, a nine-storey building comprising ground floor foyer and eight floors of office space with a net lettable are of 8,600 sqm and three levels of basement parking plus further parking to the rear of the building providing a total of 378 car spaces, which was sold for $48 million. The sale represented an initial yield of 7.12% on a passing income of $3,420,000 (net);
- 56-58 Waterloo Road, Macquarie Park, a two-storey commercial, research and industrial building and a two-storey annexe, completed in 2000 and another two-storey building, completed in 2003, providing a total net lettable area of 5,394 sqm and a car parking area for approximately 69 vehicles, which was sold for $40.5 million and
- 14-16 Orion Road, Lane Cove West, a 7,922 sqm block of native bush, partly cleared vacant land, which was bought for $8.6 million.
Properties for sale in Macquarie Park Cityscope in February 2018 include:
- 2 Lincoln Street, Lane Cove West, a four-storey office building and a high-clearance warehouse, competed in 1985, providing a total area of 9,438 sqm and on-site parking for 101 vehicles, which is available through Knight Frank and CBRE and
- Lot 13 at 79-85 Mars Road, Lane Cove West, a commercial and industrial unit in the North Star Business Park, comprising 104 sqm on ground floor, a 13 sqm area on the mezzanine level and a 57 sqm area on level one with a parking area for three cars on basement level three, which is available for sale with an asking price of $930,000 through Sutton Anderson.
Leasing opportunities in the February 2018 of Macquarie Park Cityscope include:
- 2 Dawn Fraser Avenue, Sydney Olympic Park, one of the pair of seven-storey office buildings, with retail space on ground floor and basement parking for 349 cars, which has office space ranging from 2,250 sqm to 18,427 sqm for lease through Dexus Property Group and Colliers International Sydney;
- 9-13 Carter Street, Lidcombe, a high-clearance warehouse with a two-level office and on-grade parking, which has warehouse space of 10,000 with office space for lease through Meriton and
- AAP New Centre at 3 Ride Boulevard, Rhodes, an eight-storey commercial building with three retail units on the ground floor plus four levels of basement parking for 303 vehicles, which has office space ranging from 425 sqm to 3,600 sqm for lease through CBRE Western Sydney, JLL Parramatta and JLL North Sydney.
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe