The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending February 2019 have increased in total value from the preceding quarter.
There were 54 sales recorded for the most recent quarter with a total value of $1.915 billion, as compared to the 71 sales for a total of $873.8 million for the quarter ending November 2018 but a decrease from the 81 sales for a total of $2.768 billion for the quarter ending August 2018.
For the year ending February 2019, there were 259 sales recorded for a total of $7.884 billion, compared to the 329 sales for a total of $8.107 billion for the year ending February 2019.
The table below shows sales recorded for the last eight updates of Sydney Cityscope:
Recent notable sales in Sydney Cityscope in February 2019 include:
- 10 Shelley Street, Sydney
A 16-storey tower with parking for 109 cars, completed in late 2003 with a net lettable area of 27,760 sqm; typical floor plates of 1,970 sqm and 1,002 sqm basement stratum underneath property 1C; American Express House, 12 Shelley Street, Sydney, an 11-storey office building with retail space on the ground level and four levels of basement parking for 69 cars, and a substation at 21-25 Sussex Street, which sold together for a total of $804 million through Cushman & Wakefield;
- 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 (formerly Westpac Plaza), 30 floors of office space and 2 plant levels, all totalling a 47,047 sqm building area, was bought for $420 million through Savills and
- Stratum lot 55 at 21-59 Lime Street, Sydney
The two lower retail levels of Buildings 4, 5, 8 and 9 in the King Street Wharf 10 retail/commercial complex comprising of 4,565 sqm and Stratum lot 207 at 5-15 Lime Street, Sydney, the two retail levels of King Street Wharf 9 retail/commercial complex known as 5 and 15 Lime Street comprising of 3,090 sqms, sold together for $125.5 million through Stonebridge Property Group and JLL Sydney. The sale represented an initial yield of 6.02% on passing income of $7,555,100.
Properties for sale in Sydney Cityscope in February 2019 include:
- A 50% share of the leasehold of 201 Kent Street comprising of Grafton Bond Building, also known as the Grafton Bond Store
A large five-storey brick Victorian warehouse of 3,110 sqm with Flemish-style detailing, built 1881 to Hickson Road; a 6-storey glazed atrium, connecting properties 1A and 1D, part of the Maritime Trade Towers, built in 1988 and AON Tower, part of the Maritime Trade Towers, a 34-level tower, including a retail plaza at ground level, four levels of basement parking and three plant levels with a total net lettable area of 40,176 sqm, for sale together through Savills and JLL Sydney;
- 62 Pitt Street, Sydney
A 9-storey building, completed in 1962 with a gross floor area of 2,510 sqm, net office area 1,709 sqm and typical floor plate of 225 sqm for sale through Colliers International Sydney and
- 376 Pitt Street, Sydney
A three-storey building of 326 sqm on a site area of 139 sqm, for sale through Hordern Properties - Sydney.
Properties with space for lease in Sydney Cityscope in February 2019 include:
- MLC Centre, at 19-29 Martin Place, Sydney
A building of 67 levels, completed 1978, with parking for 308 cars in 4 basement levels and a building area of 77,400 sqm, which has office space ranging from 135 to 2,288 sqm available through Cushman & Wakefield - Sydney;
- 277 Elizabeth Street, Sydney
A 24-storey building plus two levels of basement parking, built in 1976 with shops on the ground floor and a lower ground floor arcade area, including an entrance to Museum Station, which has office space ranging from 135 to 2,745 sqm available through Colliers International Sydney and CBRE (Sydney) and
- 210 George Street, Sydney
Office space of 1,260 to 16,567 sqm in the future building available through JLL Sydney and Colliers International – Sydney. The future development will be comprised of a 28-storey commercial tower with ground and first floor retail, three basement levels with car parking and end of trip facilities.