The latest research from Sydney Cityscope shows that Sydney CBD commercial property sales for the three months ending May 2019 have decreased in total value from the preceding quarter.
There were 42 sales recorded for the most recent quarter with a total value of $1.245 billion, as compared to the 55 sales for a total of $1.912 billion for the quarter ending February 2019 and an increase from the 71 sales for a total of $873.8 million for the quarter ending November 2018.
For the year ending May 2019, there were 249 sales recorded for a total of $6.799 billion, compared to the 309 sales for a total of $9.574 billion for the year ending May 2018.
The table below shows sales recorded for the last eight updates of Sydney Cityscope:
Recent notable sales in Sydney Cityscope in May 2019 include:
- A 50% interest in the MLC Centre at 19 Martin Place, Sydney, an office tower of 67 levels, completed 1978, with parking for 308 cars in 4 basement levels; one of the world's tallest reinforced concrete buildings (228 metres) with a building area of 77,400 sqm; Lees Court, a laneway; Lot 2 in the mushroom-shaped building at 27-39 Castlereagh Street, Sydney,which is the airspace around and above the building and underground supporting walls and Unit 1, 39-47 Castlereagh Street, Sydney a commercial unit of 953 sqm over 5 floors and Unit 4, 39-47 Castlereagh Street, Sydney, a commercial unit of 1,249 sqm over 5 floors, which sold together for a total of $800 million through JLL, Savills and Cushman & Wakefield;
- A 50% interest in 10 Bond Street, Sydney, an 8-storey office building with a plaza and ground floor shops and 20 Bond Street, Sydney, a 33-storey building, with ground floor shops and a fitness centre in the basement, completed early in 1979 with a total net lettable area of 38,271 sqm, which were bought together for $310 million and
- 62 Pitt Street, Sydney, a 9-storey building, completed in 1962 with a net lettable area of 1,709 sqm on a site area of 284 sqm, which sold for about $50 million through Colliers International.
Properties for sale in Sydney Cityscope in May 2019 include:
- The 99-year leasehold of Barangaroo House at 35 Barangaroo Avenue, Barangaroo
A stand-alone three-storey waterfront building located in the south west corner of Barangaroo South development, completed late 2017 and designed by Collins and Turner as a signature waterfront restaurant and hospitality venue, for sale with an asking price in the vicinity of $35,000,000 through CBRE;
- Freehold of the Veriu Central Hotel building, 75 Wentworth Avenue, Sydney
A five-storey building with ground floor retail and 112 hotel rooms and a net lettable area 4,250 sqm, for sale with a long-term leaseback to the Veriu Central Hotel through Colliers International – Sydney and
- A future 124-room hotel to be completed in 2021 at 25 Commonwealth Street, Sydney
For sale with price expectations of up to $90 million through Knight Frank Sydney and JLL Hotels & Hospitality Group.
Properties with space for lease in Sydney Cityscope in May 2019 include:
- Sydney Central, at 477 Pitt Street, Sydney
A 31-storey office building with basement parking over two levels for 150 cars, linked to a 10-storey wing, the Sydney Central North Tower, and an atrium rising four storeys, which has office space ranging from 950 to 18,000 sqm available through Colliers International Sydney;
- Grosvenor Place at 225 George Street, The Rocks
A 44-storey premium grade office complex, on a site which also incorporates and integrates five restored heritage buildings and a 24 hour accessible through-site link from George Street to Harrington Street, which has office space ranging from 100 to 9,164 sqm available through Colliers International Sydney and JLL Sydney and
- The Shark Building, 127-131 Liverpool Street, Sydney
A two 6-storey buildings (including the old Snows Corner department store) merged into retail space and offices, partly built circa 1910 and 1920-1930 which has retail space of 1,400 sqm available through Henderson & Horning – Sydney.