The latest research from South Sydney Cityscope shows property sales for the quarter to March 2020 have increased in terms of total value.
Sales recorded in the most recent quarter totalled $478.7 million from 51 sales, as compared to the $352.1 million from 33 sales in the quarter to December 2019 and from the $339 million from 73 sales recorded in the quarter to September 2019.
This quarter brings the twelve-month total value of sales to $1.512 billion from 212 sales, just slightly lower than the $1.532 billion from 135 sales recorded for the previous year.
The table below shows sales recorded for the past eight updates of South Sydney Cityscope.
Notable sales in the March 2020 update of South Sydney Cityscope include:
- Connection Corporate Centre Building 3 at 189 O'Riordan Street, Mascot, a 10-storey commercial building with ground floor retail and showroom space and a net lettable area of 19,084 sqm, which sold approximately $174.7 million through CBRE;
- Adina Apartment Hotel, at 17 Bourke Road, Mascot, a 7-storey hotel building with 123 serviced apartments, a ground floor cafe/bar and basement parking for 54 vehicles, which sold for $53 million and
- 9 - 13 McPherson Street, Banksmeadow, a storage yard of 25,620 sqm for empty shipping containers, which sold for $47.5 million.
Properties listed as for sale in the March 2020 update of South Sydney Cityscope include:
- 1 Gillespie Avenue, Alexandria, with an office to Gillespie Avenue and a high-clearance warehouse/workshop to the rear, and a yard for access and parking. Total warehouse and office space of about 2,400 sqm, for sale through Savills;
- 4 Hiles Street, Alexandria, a high clearance brick workshop with a small two-storey office section on a block of 1,012 sqm, for sale through Richardson & Wrench Rockdale and CBRE - Western Sydney and
- Unit 5, Landmark Industrial Estate at 2A Burrows Road, St Peters, a commercial/industrial unit comprising 296 sqm on the ground floor, 134 sqm on the first floor plus three car spaces, for sale through LJ Hooker Commercial South Sydney.
Leasing opportunities in the March 2020 update of South Sydney Cityscope include:
- Future planned four tenancies for use as a warehouse and distribution centre with ancillary retail at 9 - 31 O'Riordan Street, Beaconsfield, currently a two-storey showroom and office to the street and a high-clearance warehouse to the rear, which has warehouse/office/retail space ranging from 306 to 5,500 sqm available for pre-lease through Colliers International City South;
- Building 1, part of South Sydney Corporate Park at 85 O’Riordan Street, Alexandria, which is a series of connected two-storey high clearance warehouse and showroom buildings which has commercial space of 91 to 1,408 sqm available through CBRE South Sydney and
- The Hayesbery at 134 Dunning Avenue, Rosebery, a brick high-clearance warehouse, with mezzanine office above ten car spaces, which has warehouse/office space of 2,831 sqm available through Goodman Australia.