The latest research from Macquarie Park Cityscope shows that commercial property in both sales value and volume have decreased in the past three months.
Sales recorded in the quarter to May 2020 totalled $90.6 million from 11 sales, a decrease from the $149 million from 28 sales in the three months to February 2020 and a significant decrease compared with the $491.4 million from 31 sales in the three months to November 2019.
This data brings the 12 month total to $883.4 million from 122 sales, an increase from the previous twelve month total of $521.9 million from 55 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the May 2020 update of Macquarie Park Cityscope include:
- Quest Macquarie Park at 71 Epping Road, Macquarie Park, a 6-storey serviced apartment building with 111-rooms and basement parking for 60 cars, completed in late 2016, which was bought for $46 million;
- Metropolitan Commercial Centre at 33 College Street, Gladesville, a complex of 2-storey buildings with high clearance warehouses and offices, which was bought for $27 million and
- Lot 685, known as shop 5 of the Prime at 101 Waterloo Road, Macquarie Park, a 185 sqm retail unit including a courtyard on ground level of the podium plus two car spaces and storage area of 10 sqm on ground level, which was bought for $3.432 million.
Properties listed as for sale in the May 2020 update of Macquarie Park Cityscope include:
- 19 Porter Street, Ryde, a single-storey house and warehouse/workshop refurbished in 1998 with a net lettable area of 420 sqm on a 550 sqm block and 121 Church Street, Ryde, a high-clearance factory building on a 544 sqm block, which are for sale as a development site with DA approved for 21 units through Raine & Horne Commercial Parramatta;
- 14 Carter Street, Lidcombe, a high-clearance warehouse with mezzanine office space and on-grade parking for about 25 cars on a 7,841 sqm block, which is for sale through GJS Property and
- Unit 20 at Lane Cove Business Centre at 2-6 Chaplin Drive, Lane Cove West, a 196 sqm commercial unit comprising 106 sqm on the ground floor and 90 sqm on the first floor plus a car space, which is for sale through Sutton Anderson.
Leasing opportunities listed in the May 2020 update of Macquarie Park Cityscope include:
- 2 Dawn Fraser Avenue and 4 Dawn Fraser Avenue, Sydney Olympic Park, a pair of seven-storey office buildings with 32,704 sqm of office space, 1,838 sqm of retail space and 593 car parks over six shared basement levels. The total net lettable area is 34,543 sqm, which has office space 1,000 to 13,070 sqm available through Dexus Property Group, Colliers International Sydney and Colliers International Sydney South;
- 20-20A Waterview Street, Putney, a complex of single-storey and 2-storey office and factory buildings, high-clearance warehouses and several wharves, which has warehouse space ranging from 2,000 to 3,000 sqm available through Colliers International North Sydney and
- Link Business Park Building B at 22 Giffnock Avenue, Macquarie Park, a three-storey building with 7,531 sqm of office space over 2 levels and on-site parking for 118 cars. To the rear, a 7-storey office building linked to the front building, with 2 levels of basement parking for 88 cars, which has office space ranging from 500 to 3,500 sqm available through Knight Frank North Sydney and CBRE North Sydney.