The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending August 2018 have increased in total value from the preceding quarter.
There were 81 sales recorded for the most recent quarter with a total value of $2.768 billion, as compared to the 53 sales for a total of $2.327 billion for the quarter ending May 2018 and the 87 sales for a total of $2.904 billion for the quarter ending February 2018.
For the year ending August 2018, there were 287 sales recorded for a total of $10.173 billion, compared to the 368 sales for a total of $5.126 billion for the year ending August 2017.
The table below shows sales recorded for the last eight updates of Sydney Cityscope:
Recent notable sales in Sydney Cityscope in August 2018 include:
- The 50% interest in Westpac Place at 275 Kent Street, Sydney, a twin tower office complex comprising a three-level podium of 9,960 sqm, a 17-level Sussex Street tower of approximately 22,100 sqm, a 28-level Kent Street tower of approximately 40,550 sqm plus two levels of basement parking with a total of 214 parking spaces, which sold for $721.9 million through Savills Sydney and JLL Sydney;
- Daramu House at 1 Sussex Street, Barangaroo, currently a development site at foundation stage. Will be a seven-storey building consisting of 11,022 sqm commercial space and approximately 726 sqm retail space and basement parking for 18 vehicles; the leasehold of the completed building was sold for approximately $250 million and
- A 622 sqm development site at 275 George Street, Sydney with development approval for the construction of a 15-storey building plus two basement levels, will include 302 sqm of retail space over ground floor, 356 sqm of commercial and retail space on level 1 and office space over levels 2 to 14, which sold for $240 million through Colliers International – Sydney.
Properties for sale in Sydney Cityscope in August 2018 include:
- A 50% interest in the 125-year leasehold in Chifley Tower at 2 Chifley Square, Sydney, a 44-level office tower plus four basement parking levels for 390 cars, with a bet lettable area of 69,062 sqm, which is available through Cushman & Wakefield and JLL Sydney;
- A 50% interest in 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 with a total net lettable area of 47,047 sqm, which is available through Savills and
- The leasehold interest in stratum lot 55 in King Street Wharf 10 at 21-59 Lime Street, Sydney, comprising two lower retail levels of 4,565 sqm and stratum lot 207 in King Street Wharf 9 at 5-15 Lime Street, Sydney, comprising two retail levels of 3,090 sqm, which is available through Stonebridge Property Group and JLL.
Properties with space for lease in Sydney Cityscope in August 2018 include:
- Treehouse at 227 Elizabeth Street, Sydney, a 24-storey building plus two levels of basement parking with shops on the ground floor and a lower ground floor arcade area, which has office space ranging from 135 to 2,475 sqm available through CBRE Sydney and Colliers International Sydney;
- 175 Liverpool Street, Sydney, a 28-level office block with a net lettable area of 48,890 sqm and a basement parking for 423 cars, which has office space ranging from 262 to 6,631 sqm available through Colliers International Sydney, JLL Sydney and TGC Sydney and
- 59 Goulburn St, Sydney a 28-level B-grade office building including three levels of parking for 126 cars. Lobby and lifts were refurbished in 2018, which has office space ranging from 204 to 2,351 sqm available through CBRE Sydney and Colliers International Sydney.