The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending August 2019 have significantly increased in total value from the preceding quarter.
There were 81 sales recorded for the most recent quarter with a total value of $5.712 billion, as compared to the 42 sales for a total of $1.261 billion for the quarter ending May 2019 and an increase from the 55 sales for a total of $1.912 billion for the quarter ending February 2019.
For the year ending August 2019, there were 249 sales recorded for a total of $9.758 billion, compared to the 286 sales for a total of $10.116 billion for the year ending August 2018.
The table below shows sales recorded for the last eight updates of Sydney Cityscope:
Recent notable sales in Sydney Cityscope in August 2019 include:
- A 299-year leasehold of 77 Castlereagh Street, Sydney
A 19-storey retail and office complex with basement parking; 85 Castlereagh Street, Sydney, a 27-storey office tower built above a retail podium with a net lettable area of 36,811 sqm and 100 Market Street, Sydney, an 11-storey office tower, originally completed in 1978 and extensively redeveloped in 2010, with a net lettable area of 30,777 sqm. was bought for $1.52 billion;
- A 50% interest in the Chifley Tower at 2 Chifley Square
A 44-storey office building plus four basement parking levels for 390 cars. It also comprises a podium building features two double-height levels for use as money market trading floors, a conference centre, and a Wintergarden providing public space, a roof top terrace and a three-level entrance lobby facing Bent and Phillip Streets provides two retail levels, known as Chifley Plaza, was bought for approximately $900 million and
- A 25.1% interest in International Tower 3 at 300 Barangaroo Avenue, Barangaroo
A 39-storey office tower comprising of 83,760 sqm of commercial floor space, 5,315 sqm retail space and 1,370 sqm office lobby and basement parking for 153 cars and 326 bicycle spaces; International Tower 2 at 200 Barangaroo Avenue, a 43-storey office tower with net lettable area of approximately 89,000 sqm, completed in late 2015 and International House Sydney at 3 Sussex Street, Barangaroo, a six-storey office building comprising a net lettable area of approximately 6,719 sqm with typical floor plate of 1,240 sqm and basement car parking, completed early 2017, was bought for approximately $755 million.
Properties for sale in Sydney Cityscope in August 2019 include:
- 27-33 Goulburn Street, Haymarket
The former Chinatown Twin Cinema, refurbished early 2000 and again in mid 2006. This building was formerly the Salvation Army's rehabilitation centre, built in 1912. Currently with retail shops on the basement and ground level, for sale through CBRE Sydney;
- 78 Liverpool Street, Sydney
A six-storey brick and sandstone Federation building, built circa 1906. Renovated in 1982, 1996 and late 1999. An extension of existing basement restaurant into the ground floor and addition of a mezzanine level was completed in early 2016, with a net lettable area of 1,500 sqm, for sale through Savills and
- The soon to be completed Vibe Darling Harbour Hotel at 319-325 Sussex Street, Sydney
A 16-storey, 4.5 star hotel comprising 145 rooms, a rooftop bar and a swimming pool, scheduled to open in September 2019; for sale through JLL Hotels & Hospitality Group.
Properties with space for lease in Sydney Cityscope in August 2019 include:
- Gateway at 1 Macquarie Place, Sydney
A 43-storey commercial building, with a net lettable area of 46,650 comprising 43,050 sqm of office space over 39 levels and a retail plaza of 3,600 sqm over 4 levels in an enclosed mall with 45 shops, a tavern and seating for 240 people, which has office space ranging from 200 to 3,438 sqm available through Dexus Property Group and Cushman & Wakefield – Sydney;
- 135 on King at 135 King Street, Sydney
An A-grade office tower with parking on two basement levels for 76 cars. Extensively refurbished in 2015, which has office space ranging from 175 to 2,000 sqm available through Colliers International Sydney and Investa Property Group and
- 175 Liverpool Street, Sydney
A 28-level office block with basement parking for 423 cars. Refurbished in 1996, 2010 and 2013, which has office space ranging from 1,589 to 3,178 sqm available through Colliers International Sydney.