The latest research from North Sydney Cityscope shows property sales for the quarter to October 2019 have decreased in terms of total value.
Sales recorded in the most recent quarter totalled $676 million from 60 sales, as compared to the $762.1 million from 54 sales in the quarter to July 2019 but an increase from the $50.3 million from 30 sales recorded in the quarter to April 2019.
This quarter brings the twelve-month total value of sales to $1.756 billion from 195 sales, a decrease from the $2.032 billion from 166 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 October 2019 update of North Sydney Cityscope include:
- The future Citadines Walker North Sydney
The hotel component of the 48-storey development at 88 Walker Street, North Sydney, to comprise 21 levels with a total of 252 hotel suites, a restaurant rooftop bar, meeting rooms, business centre and executive lounge, which sold for $202 million;
- 107 Mount Street, North Sydney
A nine-level office building, formerly George Patterson House, with basement parking for 33 cars and four ground floor retail premises, a building area of 6,583 sqm and a site area of 1,245 sqm, which sold for $115 million through CI Australia and Knight Frank North Sydney and
- Two 25% shares in Coca-Cola Place at 40 Mount Street, North Sydney
A 21-storey A-grade office building with basement parking, completed in May 2010 at an estimated cost of $250 million with a building area of 28,500 sqm, were bought for $109.5 million each through US firm PGIM Real Estate, JLL North Sydney and Savills.
Properties listed as for sale in the October 2019 update in the areas covered by North Sydney Cityscope include:
- Meyrick House, 25 Falcon Street, Crows Nest
A 3-storey building on a site area of 386 sqm, which is for sale through JLL Sydney;
- On Clarke 7-11, 7-11 Clarke Street, Crows Nest
A 2-storey building with 8 car spaces, shops at street level and offices on the upper level and a building area of 600 sqm, which is for sale through Knight Frank North Sydney and Hartigan Bolt and
- 4 Northcote Street, Naremburn
A single-storey stepped brick building with parking at rear; 2 Northcote Street, Naremburn, a three-storey building with basement parking for 8 cars and 2B Northcote Street, Naremburn, a two-storey building with parking at the rear, which are for sale together through Raine & Horne Commercial North Sydney.
Leasing opportunities in the October 2019 update in the areas covered by North Sydney Cityscope include:
- 100 Arthur at 100 Arthur Street, North Sydney
A 23-storey building, completed in mid-2007 with 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 19,000 sqm available through Knight Frank North Sydney and Colliers International North Sydney;
- 116 Miller Street, North Sydney
An eight-storey building with banking and retail space on the ground floor, seven levels of commercial office space above and parking for 63 cars, which has office space ranging from 1,254 to 2,630 sqm available through Cadigal – North Sydney and
- 118 Mount Street development at 118 Mount Street, North Sydney
To be a 29-storey commercial office building of 20,000 sqm with basement parking over 3 levels for 33 vehicles, which has office space ranging from 754 to 7,487 sqm in the future building available for pre-lease through Colliers International Sydney.