The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending February 2018 have increased in total value from the preceding quarter.
There were 87 sales recorded for the most recent quarter with a total value of $2.845 billion, as compared to the 67 sales for a total of $2.210 billion for the quarter ending November 2017 and the 103 sales for a total of $2.237 billion for the quarter ending August 2017.
For the year ending February 2018, there were 330 sales recorded for a total of $8.083 billion, compared to the 383 sales for a total of $6.065 billion for the year ending February 2017.
The table below shows sales recorded for the last eight updates of Sydney Cityscope.
Recent notable sales in Sydney Cityscope in February 2018 include:
- Telstra House at 231 Elizabeth Street, Sydney, an A-grade 16-storey office building, built in 1986, comprising two levels of basement parking for 80 cars, ground and mezzanine retail/display space and 15 floors of office space, which sold for $340 million though JLL Sydney and Colliers International – Sydney;
- 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 sold for $229 million through Inc RE - Sydney and Savills. The sale represented an initial yield of 3.70% on passing income of $8,473,000 and
- 1 Castlereagh Street, Sydney , a 25-storey B grade office building with basement parking for 52 cars over two levels. Gross floor area 11,760 sqm, net lettable area 11,590 sqm and typical floor 550 sqm, which sold for $220 million through CBRE and Cushman & Wakefield.
Properties for sale in Sydney Cityscope in February 2018 include:
- 117 Clarence Street, Sydney, a 14-storey office building, including retail tenancy on the ground floor, a two-level hotel, 11 levels of office space and basement parking for 33 cars with building area of 13,366 sqm, which is available through Savills;
- Quay Connection at 187-189 Thomas Street, Sydney, comprising two buildings, one building comprises 10 levels of offices and two basement levels with parking for 86 cars; and the other, a single-storey building housing a meeting hall, which is available through Colliers International and
- RCA House at 499-501 Kent Street, Sydney, an office building of three to five storeys with lower ground floor and outside parking for 20 cars with net lettable area of 1,465 sqm, which is available through Knight Frank.
Properties with space for lease in Sydney Cityscope in February 2018 include:
- 220 George Street, Sydney, a 13-storey office building, completed in 1972 with net lettable area of 8,916 sqm, which has office space ranging from 35 sqm to 2,000 sqm available through Colliers International Sydney and Knight Frank Sydney;
- Treehouse at 227 Elizabeth Street, Sydney, a 24-storey building with two levels of basement parking. There are shops on the ground floor and a lower ground floor arcade area, which has office space ranging from 100 to 3,600 sqm available through CBRE Sydney and Colliers International – Sydney and
- 60 Margaret Street, Sydney, a 39-level hexagonal office block with three levels of car parking providing 141 car bays, three floors of retail space known as the Metcentre, 30 floors of office space and 2 plant levels, which has office space of 6,000 sqm available through Savills.
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 www.corelogic.com.au/products/cityscope. 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