The latest research from Parramatta Cityscope shows sales have decreased substantially in terms of sales value. In the quarter to March 2020 there were 13 sales at a total value of $291.1 million, compared to the 25 sales at a total value of $787.5 million in the previous quarter and the $177.3 million from 26 sales recorded for the quarter to September 2019.
The 12-monthly sales value has increased, with 77 sales at a total value of approximately $1.230 billion for the year to March 2020, compared to the 61 sales at a total value of $886.2 million for the previous year.
The table below shows sales recorded for the past eight updates of Parramatta Cityscope.
Notable sales in the March 2020 update of Parramatta Cityscope include:
- A 50% interest of The Octagon, comprising Atrium 1 at 99-101 Phillip Street and Atrium 2 at 110 George Street, each of four octagonal seven-storey pods grouped around a central atrium, completed in 1990 and was extensively refurbished in 2012. The property on a 7,097 sqm site, has parking for 314 cars and a net lettable area 21,082 sqm, which was bought for $94.15 million;
- Lee Nash House at 5-7 Charles Street, a two-storey showroom and office building with a net lettable area of approximately 720 sqm with adjacent parking for 15 cars, and 114-116 Macquarie Street, a two-storey office building with basement parking for 28 cars; completed in 1985 and has a net lettable area of 1,509 sqm, which were bought together for $82.5 million and
- 302 Church Street, Parramatta, a two-storey building with several shops at street level and a building area of approximately 1,001 sqm, which was bought for $15.6 million.
Properties for sale in the March 2020 update of Parramatta Cityscope include:
- 454-456 Church Street, Parramatta, a two-storey brick building completed in 1994 and a single-storey brick house damaged by fire in 1989 and refurbished in mid 1993 with access through a driveway entrance to Fennell Street and 452 Church Street, a single-storey high-clearance brick workshop with parking at the rear; completed in 1986, with a combined site of 1,736 sqm for sale as a development site through Knight Frank Sydney West;
- Unit 5 at 17-21 Hunter Street, Parramatta, a commercial space of 487 sqm including balcony on level three, plus 4 car spaces on the ground floor, which is available for sale through Richardson & Wrench Parramatta; and
- Unit 2 at MacArthur Mews, at 31A Fennell Street, Parramatta, a three-storey unit comprises of 50 sqm plus 5 sqm balconies and 3 car spaces on the ground floor, 57 sqm plus 2 sqm garden box on the first floor and 34 sqm on the second floor, which is for sale through Belroy Property Parramatta.
Leasing opportunities listed in the March 2020 update of Parramatta Cityscope include:
- 32 Smith Street, Parramatta, currently a development, to be a 28-storey A grade office building with retail space on ground floor and 4 levels of podium car park, public domain and 19 levels of commercial space, being built at an estimated cost of approximately $115 million by GPT Group, has floor areas ranging from 1,048 to 1,352 sqm available for pre-lease through JLL Sydney and JLL North Sydney;
- 87 Marsden, Parramatta, a 10-storey office building including two basement parking levels for 79 cars; completed in February 1991 with a net lettable area 6,669 sqm, which has office space ranging from 250 to 2,992 sqm available through Knight Frank – Sydney West and
- 28 George Street, Parramatta, a 4-storey office building with 31 car spaces to the rear including undercover car spaces with a net lettable area of 2,412 sqm, which has floor areas ranging from 507 to 950 sqm available for lease through Cushman & Wakefield - Sydney.