The latest research from Parramatta Cityscope shows sales have decreased in terms of sales value. In the quarter to September 2020, there were 14 sales at a total value of $75.2 million, compared to the 17 sales at a total value of $163 million in the previous quarter and the 13 sales at a total value of $219.2 million in the quarter to March 2020.
The 12-monthly sales value has increased, with 68 sales at a total value of more than $1.233 billion for the year to September 2020, compared to the 75 sales at a total value of $576.6 million for the previous year.
The table below shows sales recorded for the past eight updates of Parramatta Cityscope.
Notable sales in the September 2020 update of Parramatta Cityscope include:
- 16-18 Wentworth Street, Parramatta, an 8-storey commercial building with net lettable area of 6,400 sqm and parking for 74 cars on three basement levels, completed mid-1991, which was bought for $40 million in a deal handled by Ray White Commercial NSW Western Sydney;
- 2-4 Palmer Street, Parramatta, a two-storey showroom/gallery building with net lettable area of 685 sqm and parking for 10 cars, refurbished in early 1999, which was bought at auction for $8.5 million at a yield of 2.91% through Ray White Commercial NSW – Metropolitan Sydney and Khoury & Partners Parramatta; and
- 238 Church Street, Parramatta, a two-storey building with net lettable area of 460 sqm on a block of 2,451 sqm land, which was bought for $4.55 million.
Properties for sale in the September 2020 update of Parramatta Cityscope include:
- 106 Church Street, Parramatta, a 6-storey office building comprising two levels of basement parking, a split level ground floor of retail space and five office floors, with a net lettable area of 4,115 sqm, completed in early 1987, which is for sale through Ray White Commercial NSW Western Sydney;
- The Centurion, a 14-storey office building over five levels of car parking and ground level retail premises, with a total net lettable area of 10,249 sqm including a 376-sqm retail area on the ground level, completed in early 2006, which is for sale through CBRE Sydney; and
- Unit 2 in The V by Crown and Skye Hotel Suites, a 37-storey tower consisting of 420 apartments, office and retail space, a conference room, restaurant, business centre and 6 levels of basement parking, completed in late 2016. Unit 2 is a 104 sqm retail suite on the ground floor fronting Marsden Street and includes a car parking space in basement level one, which is for sale through Khoury & Partners Parramatta.
Leasing opportunities listed in the September 2020 update of Parramatta Cityscope include:
- 87 Marsden at 87 Marsden Street, Parramatta, a 10-storey office building providing a net lettable area of 6,669 sqm and two basement parking levels for 79 cars, completed in February 1991 and the lobby was refurbished in 2012. The building has office space ranging from 250 to 2,992 sqm for lease through Resonate Partners – Sydney;
- Jessie Street Centre at 4-12 Macquarie Street, Parramatta, a 20-storey and 5-storey building with shops in a courtyard facing the Commonwealth Law Courts at the George Street entrance and parking for 329 cars, completed in 1988, which has office space of 2,665 sqm in suite 8 on level 3 available for sub lease through Knight Frank – Sydney West; and
- 6 HSL development at 2-6 Hassall Street, Parramatta, to be a 19-storey education and commercial office building, centering around an engineering innovation hub with building space of 30,440 sqm including retail tenancies on ground floor and basement car parking, currently under construction at about level 4, which has office space ranging from 1,526 sqm to 18,635 sqm for pre-lease through JLL Parramatta, JLL North Sydney, JLL Sydney and Cushman & Wakefield – Sydney.