The latest research from North Sydney Cityscope shows property sales for the quarter to July 2019 have increased in terms of total value.
Sales recorded in the most recent quarter totalled $769.1 million from 54 sales, as compared to the $50.3 million from 30 sales in the quarter to April 2019 and from the $263.1 million from 49 sales recorded in the quarter to January 2019; largely due to the sales of North Point at 100 Miller Street, North Sydney and 111 Pacific Highway, North Sydney.
This quarter brings the twelve-month total value of sales to $1.549 billion from 166 sales, a decrease from the $2.537 billion from 205 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 July 2019 update of North Sydney Cityscope include:
- 50% interest in the Northpoint at 100 Miller Street, North Sydney
A 44-storey office building with a two-level arcade of specialty shops and basement parking for 423 cars over 6 levels, extensively refurbished in 2018; plus a recently built 10-storey 187-room Vibe Hotel at the northern end of the site, which sold for $300 million;
- 111 Pacific Highway, North Sydney
A 24-storey office building with a circular two-storey annexe facing the Pacific Highway and Walker Street intersection. There is basement parking for 164 cars and ground floor specialist shops in the office building. Net lettable area is 18,684 sqm, comprising office space of 17,357 sqm and retail space of 1,327 sqm, which sold for $275 million and
- A stratum lot in the recently completed The Albany Crows Nest development
Comprising car parking, retail and commercial space on the whole of basement levels B3, B2, B1, lower ground floor, upper ground floor, upper ground mezzanine and part of levels 1 and 2, which sold for approximately $42 million.
Properties listed as for sale in the July 2019 update in the areas covered by North Sydney Cityscope include:
- 114 Alexander Street, Crows Nest
A 2-storey commercial building with parking for 2 cars with a net lettable area of 402 sqm, which is for sale through Ray White Lower North Shore;
- 71 Military Road, Neutral Bay
A 2-storey retail building with a net lettable area of 252 sqm on a 156 sqm block, which is for sale through Colliers International North Sydney and
- 127 Willoughby Road, Crows Nest
A single-storey brick shop with a building area of 247 sqm, which is for sale through Sutton Anderson.
Leasing opportunities in the July 2019 update in the areas covered by North Sydney Cityscope include:
- 141 Walker Street, North Sydney
A 24-storey office building comprises basement parking for 209 cars, ground floor retail space and landscaped terrace and forecourt, ground and upper ground level shops and restaurants, and 22 floors of offices, which has office space ranging from 200 to 1,873 sqm available through Dexus Property Group and CBRE Sydney North;
- Clemenger Building at 118-120 Pacific Highway, Greenwich
A seven-storey office building with two levels of parking for 151 cars, with a net lettable area area of 5,126 sqm and typical floor plates of 997 sqm, which has office space ranging from 600 to 2,1000 sqm available through Cadigal Office Leasing and JLL North Sydney and
- 111 Pacific Highway, North Sydney
A 24-storey office building with a circular two-storey annexe facing the Pacific Highway and Walker Street intersection. There is basement parking for 164 cars and ground floor specialist shops in the office building, which has office space ranging from 247 to 3,000 sqm available through Investa Property Group and Knight Frank North Sydney.