The latest research from Sydney Cityscope shows commercial property sales for the last quarter in Sydney’s CBD have fallen in number and total sales value. For the three months to August 2016 there were 87 sales at a total value of $1.848 billion, compared to 99 sales at a total value of $2.117 billion for the previous quarter. The yearly figures are up in number but down in total sales value, with 376 sales at a total value of $6.96 billion for the twelve months to August 2016, compared to 364 sales at a total value of $8.01 billion for the previous year.

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

Sydney Cityscope Quarterly Sales

Notable sales in the August 2016 update of Sydney Cityscope include:

  • LG IMAX Theatre Sydney, a 540 seat cinema with an eight storey high screen in an aluminium-clad building, at 31 Wheat Road, Sydney, which has been sold as a development site for $700 million;
  • David Jones Market Street store, an 11-storey department store building with two levels of underground parking, at 65-77 Market Street, Sydney, which has been sold for $360 million; and
  • 420 George Street, Sydney, an A-grade, 34-storey office tower, a 25% interest of which has been sold for $150 million.

Sydney Cityscope Quarterly Sales

Properties listed as for sale in the August 2016 update of Sydney Cityscope include:

  • 333 Kent Street, Sydney, a nine-storey office building with parking for 41 cars, which is available through Colliers International;
  • The ACE Building, a 15-storey office building with retail on the ground floor and basement parking for 35 cars, at 28 O’Connell Street, Sydney, available through Colliers International and JLL; and
  • A 14-storey office building with retail on the ground floor and a nightclub in the basement, at 92 Pitt Street, Sydney, available through Knight Frank and Colliers International.

Leasing opportunities listed in the August 2016 update of Sydney Cityscope include:

  • Telstra Plaza Building, a 32-storey office tower with retail on the ground floor, at 310 Pitt Street, Sydney, which has office space of 977 to 18,678 sqm for lease through Colliers International;
  • A 21-storey office tower with a two-storey annexe, at 321 Kent Street, Sydney, which has office space of 260 to 14,601 sqm for lease through Colliers International; and
  • HSBC Centre, a 37-level building with 31 levels of offices, three levels of retail, and three levels of basement parking for 141 cars, at 580 George Street, Sydney, which has office space of up to 9,500 sqm for lease through JLL, Colliers International, and Cook Wish Ellison.

Commercial Research