The latest research from South Sydney Cityscope shows property sales for the quarter to September 2018 have increased in terms of total value, primarily due to the 50% interest sale of Westfield Eastgardens. 

Sales recorded in the most recent quarter totalled $912.9 million from 43 sales, as compared to the $278.2 million from 44 sales in the quarter to June 2018 and from the $271.4 million from 34 sales recorded in the quarter to March 2018.

This quarter brings the twelve-month total value of sales to $1.69 billion from 157 sales, an increase from the $1.507 billion from 194 sales recorded for the previous year.

The table below shows sales recorded for the past eight updates of South Sydney Cityscope.

CoreLogic South Sydney Cityscope Sales Grid

 

Notable sales in the September 2018 update of South Sydney Cityscope include:

  • A 50% interest in the Westfield Eastgardens at 152 Bunnerong Road, Eastgardens, a three-storey shopping complex comprising of 303 stores over 85,000 sqm of retail space, opened in 1987 and redeveloped in 2002, with car parking for 3,263 cars, which sold for $720 million; 
  • 126-136 Bourke Road, Alexandria , part of South Sydney Corporate Park, a complex of high-clearance warehouses with ground and mezzanine office areas, completed in 1996 with a total gross building area of 8,857 sqm, which sold for approximately $57 million; and 
  • 253 Coward Street, Mascot, comprising a one-and-a-half-storey high-clearance workshop building to Chalmers Crescent, a two-storey brick office building to Coward Street and a paved parking and storage area to Kent Road, which sold for $22 million. 

 

CoreLogic South Sydney Cityscope Sales Graph

 

Properties listed as for sale in the September 2018 update of South Sydney Cityscope include:

  • 6 John Street, Mascot, a high-clearance brick warehouse with mezzanine office on a 519 sqm block and 8 John Street, Mascot, a high-clearance brick warehouse/factory with mezzanine office and three car spaces on a block of 601 sqm, for sale together through N G Farah Kingsford; 
  • Wilhelmsen House at 102-106 Dunning Avenue, Rosebery, consists of a 2-storey building comprising of four light industrial warehouse units and offices plus 32 car spaces, on a 4,948 sqm block, for sale as a development site by expressions of interest closing 23 October 2018 through Savills and Cushman & Wakefield; and 
  • 28B McPherson Street, Banksmeadow, a series of single storey buildings purpose built as training facilities including collocated accommodation for detector dogs with parking and landscaped areas, completed in 2018 with a total building area of 2,928 sqm, for sale through JLL Melbourne. 


Leasing opportunities in the September 2018 update of South Sydney Cityscope include:

  • Heritage Business Centre at 5-9 Ricketty Street, Mascot, a complex of high-clearance warehouses with office space on upper levels above showrooms contained in two buildings plus parking between buildings, which has warehouse and office space ranginig from 446 to 1,276 sqm available through JLL Mascot and Goodman Australia; 
  • 23-27 Bourke Road, Alexandria, a two-storey showroom and office extending to high-clearance warehouse to the rear of the building with on grade parking for 35 cars, which has office/warehouse space ranging from 433 to 4,721 sqm available through Colliers International Sydney South; 
  • 494-504 Gardeners Road, Alexandria, a single level with high clearance bulky goods retail centre of 12,071 sqm including basement and off street parking, which has showroom/retail space of 10,000 sqm available through Arkadia Property Services; and 
  • 1581 Botany Road, Botany, a single-storey brick office with a net lettable area of 746 sqm, a paved yard, a large covered parking and workshop area on a 2,390 sqm block available through JLL Mascot.