The latest research from North Sydney Cityscope shows property sales for the quarter to January 2020 have increased significantly in terms of total value.
Sales recorded in the most recent quarter totalled $1.127 billion from 62 sales, as compared to the $678.3 million from 61 sales in the quarter to October 2019 and from the $762.1 million from 54 sales recorded in the quarter to July 2019.
This quarter brings the twelve-month total value of sales to $2.617 billion from 207 sales, an increase from the $1.640 billion from 162 sales recorded for the previous year.
The table below shows sales recorded for the past eight updates of North Sydney Cityscope.
Notable sales in the January 2020 update of North Sydney Cityscope include:
- A development under construction at 118 Mount Street, North Sydney, to be a 29-storey commercial office building of 21,012 sqm with basement parking over 3 levels for 33 vehicles; will be known as Zurich House, which sold for $350 million via a fund-through transaction on behalf of a German pension fund, in a deal brokered by Cushman & Wakefield - Sydney;
- 99 Walker Street, North Sydney, an A-grade, 22-storey office building, completed early 1988. The building, with a net lettable area of 19,376 sqm, comprises three podium levels with retail and restaurant space, and five basement parking levels for 282 cars, which sold for $311.3 million through Cushman & Wakefield and Knight Frank North Sydney and
- 20 Berry Street, North Sydney, a 15-storey office building with a net lettable area of 9,026 sqm plus parking on level 1 & 2, completed in 1971 and refurbished in late 1988, which sold for $113.888 million.
Properties listed as for sale in the January 2020 update in the areas covered by North Sydney Cityscope include:
- 1 Eden Street, North Sydney
A two-storey building, refurbished in early 1992, on a site area of 196 sqm, which is for sale via an auction on 11th February 2020 through Richardson & Wrench North Sydney;
- 127 Willoughby Road, Crows Nest
A single-storey brick shop with building area 247 sqm, which is for sale through Sutton Anderson and
- 254 Military Road, Neutral Bay
A 2-storey brick building with ground floor retail and residence above, which was refurbished in mid-2002, available through Deans Property - Broadway.
Leasing opportunities in the January 2020 update in the areas covered by North Sydney Cityscope include:
- Warner Music Australia Building at 39-47 Albany Street, Crows Nest
A three-storey building with a net lettable office area of 3,286 sqm and basement parking for 40 cars; completed 1979 and refurbished in 1991, which has office space of 1,075 sqm available through Ray White Commercial Lower North Shore;
- 157 Walker Street, North Sydney
A 12-storey office building, with basement parking for 90 cars, completed in 1971 and a net lettable office area 8,928 sqm, which has office space ranging from 100 to 1,278 sqm available through CBRE and Knight Frank and
- 90 Arthur Street, North Sydney
A 15-storey building, completed in 1987, including ground floor showrooms, two levels of car parking for 88 cars and a penthouse (556 sqm) on the 14th floor and a net lettable area 9,146 sqm, which has a full floor of 815 sqm available through JLL North Sydney.