The latest research from North Sydney Cityscope shows property sales for the quarter to July 2021 have increased in terms of both total value and number.
Sales recorded in the most recent quarter totalled $175.1 million from 40 sales, as compared to the $86.5 million from 28 sales in the quarter to April 2021 but a decrease from the $618.6 million from 37 sales recorded in the quarter to January 2021.
This quarter brings the twelve-month total value of sales to $1.127 billion from 127 sales, a decrease from the $2.544 billion from 193 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 2021 update of North Sydney Cityscope include:
- 390 Pacific Highway, Crows Nest, a 2-storey building on a 311 sqm block, 388 Pacific Highway, Crows Nest, a 2-storey building on a 247 sqm, 382 Pacific Highway, Crows Nest, a three-storey building with basement parking with a net lettable area of 972 sqm on a 412 sqm block and 378 Pacific Highway, Crows Nest, a three-storey building and parking to Hume Street on a 340 sqm block, were bought together as a development site for $51 million;
- 39 - 47 Albany Street, Crows Nest, a three-storey building with basement parking for 43 cars; completed 1979 and refurbished in 1991 with a net lettable office area of 3,287 sqm was bought for $32.35 million. The sale represented an initial yield of 3.63% on a passing income of $1,174,844 (n) and
- 70-74 Berry Street, North Sydney, comprising three substations on a site of 966 sqm was bought as a development site for $25 million.
Properties listed as for sale in the July 2021 update in the areas covered by North Sydney Cityscope include:
- Lot 54 of Atria North Sydney at 12-16 Berry Street, North Sydney, an 80 sqm commercial unit located on level 1 of a nine-storey residential with commercial/retail tenancies on ground and level 1, which is for sale through Stanton Hillier Parker Sydney;
- Unit 15 at 26-30 Atchison Street, St Leonards, a 151 sqm office suite on the third floor of a five-storey strata-titled building with basement parking for approximately 21 cars; completed 1974, which is for sale through Hartigan Bolt and
- Suite 9 at Arden at 40 - 48 Atchison Street, St Leonards, a 65 sqm commercial unit on the ground level (known as level 1) plus one 15 sqm car space in the basement level in a 12-storey building consisting of 12 commercial units and 105 residential apartments, which is for sale with an asking price of $775,000 through Hartigan Bolt.
Leasing opportunities in the July 2021 update in the areas covered by North Sydney Cityscope include:
- 100 Christie Street, St Leonards, a 12-storey office building with parking for 74 cars; completed in 1984 and refurbished in 2019 with a net lettable area of 10,040 sqm, which has office space ranging from 200 to 994 sqm available for lease through Colliers International North Sydney and Knight Frank North Sydney;
- Caroline Chisholm House at 33 Berry Street, North Sydney, a 16-storey building with three levels of basement parking; built 1975. A major refurbishment was completed in November 1989 involving a new entrance to Berry Street and provision for an atrium. In 2003 the building was further refurbished, with the addition of a cafe and new awnings, and an extension of the lift shaft. Net lettable office area is 13,195 sqm, which has office space ranging from 883 to 2,647 sqm available for lease through CBRE North Sydney and
- Charter Grove at 29-57 Christie Street, Crows Nest, a seven-storey office building over a three-level basement car park for 307 cars, completed in mid-1990 with a net lettable area 14,400 sqm, which has office space ranging from 770 to 2,155 sqm available for lease through JLL North Sydney and Cadigal – North Sydney