The latest research from North Sydney Cityscope shows property sales for the quarter to April 2020 have decreased significantly in terms of total value.
Sales recorded in the most recent quarter totalled $408.2 million from 47 sales, as compared to the $1.127 billion from 62 sales in the quarter to January 2020 and from the $678.7 million from 61 sales recorded in the quarter to October 2019.
This quarter brings the twelve-month total value of sales to $2.976 billion from 224 sales, an increase from the $1.188 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 April 2020 update of North Sydney Cityscope include:
- 100 Walker Street, North Sydney, a 14-storey office building built in 1972 and refurbished in mid-1994 with a car park in the basement and a net lettable area 10,788 sqm on a 1,385 sqm site, which sold for $166.5 million;
- 2 Elizabeth Plaza, St Leonards, a 14-storey building completed in 1990 retaining a two-storey 1870 sandstone facade to Mount Street. The property, which has a building area of 7,581 sqm which comprises of 12 levels of office space, ground and mezzanine retails space and four basement levels of parking for 157 cars, sold for $127 million through CI Australia and Cushman & Wakefield and
- 120 Christie Street, St Leonards, a four-storey office building with basement parking. Refurbished in 1999 and again in early 2017 with a net lettable area approximately 1,154 sqm, which was under conditional contract for $13.6 million through CBRE Sydney.
Properties listed as for sale in the April 2020 update in the areas covered by North Sydney Cityscope include:
- 313 Pacific Highway, Crows Nest, a two-storey building, formerly a single-storey building, refurbished in early 1993 and again in 2001, with a gross floor area 536 sqm on a 435 sqm site, which is for sale via an expressions of interest closing 6 May 2020 through CBRE Sydney;
- 343 Pacific Highway, North Sydney, a three-storey building refurbished in 1989 and 2002, with parking for 12 cars and a net lettable office area 857 sqm on a 474 sqm site, for sale through IB Property - Surry Hills and CI Australia and
- Lot 9 - known as suite 501, a 152 sqm commercial unit, including a balcony, on level 5 and lot 10 - known as suite 502, a 97 sqm commercial unit, including a balcony, on level 5 at Milsons Landing, 6A Glen Street, Milsons Point, are for sale in one line at an asking price of $3.2 million available LJ Hooker Commercial North Sydney.
Leasing opportunities in the April 2020 update in the areas covered by North Sydney Cityscope include:
- 100 Arthur, North Sydney, a 23-storey building, completed in mid-2007 with a net lettable area of 27,196 sqm. The building comprises retail space on the ground floor, a three-level podium and parking for 141 vehicles over three basement levels, which has office space up to 14,695 sqm for lease in April 2020 available through Knight Frank North Sydney and Colliers International North Sydney;
- 53-63 Nicholson Street, Crows Nest, a four-storey office building with lower ground floor parking; completed 1987 with a net lettable office area 3,030 sqm, which has office space ranging from 500 to 1,088 sqm for lease available through Cadigal – North Sydney and
- 99 Mount Street, North Sydney, an 18-level building including two retail levels (Mount Street Plaza), 15 office levels, and basement parking for 53 cars; completed in December 1980 with total net lettable area of 10,851 sqm, which has floor area ranging from 117 to 1,680 sqm available through CI Australia and CBRE North Sydney.