The latest research from South Sydney Cityscope shows property sales for the quarter to December 2016 have decreased in terms of total value. Sales recorded in the most recent quarter totalled $411.3 million from 48 sales, as compared to the $512.7 million from 58 sales in the quarter to September 2016 and the $276.7 million from 39 sales recorded in the quarter to June 2016.

This quarter brings the twelve-month total value of sales to $1.487 billion from 196 sales, an increase from the $1.260 billion from 403 sales recorded for the previous year.

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

South Sydney Cityscope Quarterly Sales

Notable sales in the December 2016 update of South Sydney Cityscope include:

  • Alexandria Creative Park, also known as The Mill at 41-43 Bourke Road, Alexandria, a 20,176-sqm business precinct comprising 10 commercial buildings, an on-site cafe and one three-storey car park building on an 18,930 sqm site, which sold through a mortgagee sale for $110.2 million;
  • Pullman Sydney Airport, at 191 O’Riordan Street, Mascot, a 12-storey, five-star hotel, with 229 guest rooms, restaurant, bar and conference facilities, completed in June 2016, which sold for $84 million; and
  • Kent Business Park, at 55 Kent Road, Mascot, a complex of five high-clearance two-storey warehouse units with small two-storey office sections, and parking for 94 cars on a 11,950 sqm site, which sold for $30 million.

Properties listed as for sale in the December 2016 update of South Sydney Cityscope include:

  • Three adjoining properties in Rosebery – at 12-20 Rosebery Avenue, consisting of a modern two-storey office building extending to high-clearance warehouse to Dalmeny Avenue and a smaller building, a high-clearance warehouse with two-storey office section and car space in a paved yard; at 108 Dalmeny Avenue, consisting of a modern two-storey office building and a yard for parking (25 cars) and warehouse access; and at 22-40 Rosebery Avenue, consisting of two high-clearance warehouses with two-level office sections (Building A and Building B), built around 1985; with a combined site area of 15,198 sqm are is available through Colliers International Sydney South;
  • 563-567 Gardeners Road, Mascot, a development site of 948 sqm currently with a two-storey brick building with showroom on ground level and first floor offices and parking to the rear, available through Taylor Nicholas South Sydney; and
  • 96A Denison Street, Hillsdale, consisting of a vacant land and to the rear, a two-storey building with parking space on the ground floor and offices above on a 4,166 sqm site, available through Cushman & Wakefield Sydney.

Leasing opportunities in the December 2016 update of South Sydney Cityscope include:

  • 1-3A Ricketty Street, Mascot, consisting of an older single-storey brick and corrugated iron warehouse with a two-level office extension and a newer high-clearance warehouse/factory building with a two-level office extension, to the north of the site, which has warehouse and office space ranging from 745 to 1,824 sqm available in Tenancy B and D for lease through Collier’s International Sydney South;
  • Alexandria Industrial Estate, at 35-39 Bourke Road, Alexandria, consisting of ten single and two-storey high-clearance warehouse buildings with office areas built in 1985 with total building area is 43,600 sqm, comprising 3,826 sqm of office space and 39,774 sqm of warehouse space, has office space of 2,405 sqm in Unit C1 available through Knight Frank Sydney South, JLL Mascot, CBRE South Sydney and Goodman Industrial and
  • Part of the Lakes Business Park at 2-12 Lord Street, Botany, a complex of office and warehouse buildings, with surrounding on-grade parking areas and a two-level car park, total building area of 48,411 sqm over seven main buildings, which has floor area ranging from 225 to 1,180 sqm available through Dexus Property Group and JLL Mascot.

Commercial Research