The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending November 2017 have slightly decreased in total value from the preceding quarter. There were 67 sales recorded for the most recent quarter with a total value of $2.209 billion, as compared to 103 sales for a total of $2.234 billion for the quarter ending August 2017 and the 73 sales for a total of $791.5 million for the quarter ending May 2017.

For the year ending November 2017, there were 334 sales recorded for a total of $6.385 billion, compared to 383 sales for a total of $7.151 billion for the year ending November 2016.

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


Recent notable sales in Sydney include:

  • A 50% share in the 99-year leasehold of the Queen Victoria Building at 455 George Street, a five-level retail arcade plus a seven-level underground car park for 720 vehicles under York Street, 12,708 sqm of shopping space housing 197 specialty retail and service tenants; 50% of the freehold of the Strand Arcade at 412 George Street, a five-storey buildings to George and Pitt Streets connected by a three-storey section in the middle and 50% of the freehold of The Galeries Victoria at 500 George Street, incorporating the heritage listed building at 275-277 Pitt Street known as the Art House Hotel, comprising a four-level retail podium providing 15,000 sqm of retail space in 70 shops, were transferred in a swap deal with a 49% share in Chatswood Chase which were considered to have a value of $556 million plus a cash adjustment of approximately $6.3 million. It represented an initial yield of approximately 5% on passing income of about $28,115,000;
  • A 25% and a 24.9% interest in the $1.9 billion Wynyard Place development, including the freehold of Shell House and 285 George Street and leasehold of 10 Carrington, which were bought for close to $450,000,000 in each separate transaction. The Wynyard Place development will include the construction of a 27-level commercial tower at 10 Carrington, restoration of Shell House and 285 George Street to provide an additional 9,400 sqm office space plus a total of 7,000 sqm of high end retail space across four levels and around the Wynyard Station concourse and
  • Swire House at 10 Spring Street, a 17-level building, comprising 14 levels of office space, two retail levels and basement car parking for 47 cars, which sold for approximately $270 million through Savills and Inc RE – Sydney.

Properties for sale in Sydney Cityscope in November 2017 include:

  • 130 Pitt Street, Sydney, a 16-storey building with parking for 12 cars, comprising two tiers with three retail floors and 12 office floors. Total net lettable area is 11,054 sqm comprising 9,844 sqm of office area and 1,160 sqm of retail area, which is for sale through Inc RE and Savills;
  • Thai Airways International Building, at 75 Pitt Street, a 13-storey building with a net lettable area 2,400 sqm on a 234 sqm block, which is for sale by expressions of interest closing December 8, 2017 through Colliers International Sydney; 

Properties with space for lease in Sydney Cityscope in November 2017 include:

  • 45 Clarence Street, Sydney, a 28-level office and retail building with five levels of basement parking for 162 cars and a landscaped plaza, which has office space ranging from 300 to 2,400 sqm available through Dexus Property Group; 
  • Suncorp Place at 259 George Street, Sydney, a 48-level tower rising to 190 metres, with six basement levels used for computer accommodation, a lecture theatre and parking for 201 cars, which has office space ranging from 240 to 15,000 sqm available through Cushman & Wakefield – Sydney and
  • 6-8 Underwood Street, Sydney, a 10-storey office building with a ground level showroom, a loading dock and car parking to the rear of the property, which has office space of 3,234 sqm available through Cushman & Wakefield – Sydney, Colliers International Sydney and Mirvac Real Estate.


Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe