The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending February 2017 have increased in total value from the preceding quarter. There were 92 sales recorded for the most recent quarter with a total value of $1.201 billion, as compared to 104 sales for a total of $1.004 billion for the quarter ending November 2016. However it is lower than the quarter ending August 2016, which recorded a total value of $1,853 billion. For the year ending February 2017, there were 385 sales recorded for a total of $6.176 billion, compared to 384 sales for a total of $8.385 billion for the year ending February 2016.

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

Recent notable sales in Sydney include:

  • Sydney Cove AMP Building at 33 Alfred Street, a 26-floor offices and a theatrette plus parking with a net lettable area of 32,353 sqm, which sold for $445 million;
  • A 30-year ground lease interest in the Commonwealth Bank Place and Darling Quarter at 1 Harbour Street, two nine-storey commercial office buildings and a retail component on a site of 17,491 sqm, which sold for $192 million;
  • 55 Clarence Street, a 22-storey office block with 14,962 sqm net lettable area with five floors of parking for 88 cars, which sold for $170 million through CBRE and Colliers International and
  • 8 Spring Street, a 13-storey office retail building with two levels of basement parking for 21 cars, providing a net lettable area of 5,132 sqm, which sold for $69 million.

 Sydney Cityscope Quarterly Sales
Properties for sale in Sydney Cityscope in February 2017 include:

  • Telstra Plaza Building at 320 Pitt Street, a 32-storey office tower comprising 29 levels of office space with a net lettable area of 29,159 sqm, two foyer levels and ground floor retail space, for by expressions of interest closing 21 March 2017 through JLL;
  • 59 Goulburn Street, a 28-level office building including three levels of parking for 126 cars, for sale by expressions of interest closing 23 March 2017 through JLL and Colliers International and
  • 275 George Street, a 14-storey office and retail building with a net lettable area of 7,357 sqm, for sale through Colliers International.

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

  • Chifley Tower at 2 Chifley Square, an office tower of 44 floors plus four basement parking levels for 390 cars, which has office space ranging from 150 sqm to 4,000 sqm available through Colliers International;
  • Jardine Lloyd Thompson House, 66 Clarence Street, a 13-level office building with a net lettable area of 6,660 sqm, which has office floors from level 7 to level 11 with space up to 4,260 sqm available through CBRE and Ray White Commercial Office Leasing;
  • The Challenger within the Hilton building at 259 Pitt Street, office space from levels 10 to 17 plus three levels of basement parking for 500 cars, which has space of up to 5,760 sqm available through Colliers International and
  • Telstra Plaza Building at 320 Pitt Street, a 32-storey office tower with a net lettable area of 29,159 sqm, which has space up to 5,087 sqm available through Colliers International.

 

Commercial Research