The latest research from Chatswood Cityscope shows that commercial property sales in the areas covered by it have increased in total sales value and number of sales from the preceding quarter. For the quarter to March 2021 there were 19 sales at a total sales value of $98.8 million, compared to the 17 sales at a total sales value of $52.9 million for the previous quarter. The yearly figures have decreased significantly, with 53 sales at a total value of $202.5 million for the twelve months to March 2021, compared to the 74 sales at a total value of more than $1.033 billion for the previous year.
The table below shows sales recorded for the past eight updates of Chatswood Cityscope:
Notable sales in the March 2021 update of Chatswood Cityscope include:
- A 25% interest of 465 Victoria Avenue, Chatswood, a 16-storey A-grade building with a net lettable area of 15,664 sqm comprising commercial office space, a landscaped podium, three levels of basement parking for 235 cars and a separate 2-storey podium with 700 sqm of retail space; completed late 1995 and refurbished in 2012, which was bought for $44.7 million;
- 272 Victoria Avenue, Chatswood, a two-storey building with rooftop parking on a 962 sqm site was bought was for $26 million and
- 44 Penshurst Street, Willoughby, a two-storey building with parking at the front for 4 cars, restored in 1985 and a net lettable area of 320 sqm on a 556 sqm site, which was bought for $3.75 million through CI Australia.
Properties listed as for sale in the March 2021 update of Chatswood Cityscope include:
- Chatswood Chambers at 815 Pacific Highway, Chatswood, a 14-storey office building plus two basement levels of parking for 104 cars; refurbished in 1988 and 1992. The building, with a net lettable area 6,757 sqm, is for sale through Colliers International North Sydney;
- Unit 43 at Lemon Grove, 441 Victoria Avenue, Chatswood, a retail space of 205 sqm on third floor, is for sale at an asking price of $3 million through Loyal Property Chatswood and
- Unit 4 at 64-66 Whiting Street, Artarmon, a two-and-three-storey concrete and glass warehouse building with parking for 16 cars; the industrial unit comprising of 105.5 sqm on level 2, 167.2 sqm on level 3, plus a 41-sqm car space on level 1, is for sale through Raine & Horne Commercial North Sydney.
Leasing opportunities listed in the March 2021 update of Chatswood Cityscope include:
- The Zenith Centre at 821 Pacific Highway, Chatswood, comprising of Tower A and Tower B is a twin tower of 21-storeys with ground floor retail space office and basement parking for 799 cars. The office complex with a total net lettable area of the 44,300 sqm (office 43,400 sqm and retail 900 sqm) was completed in 1987 and includes the Zenith Theatre, a 250-seat community theatre and are connected by a pavilion which was built in 1991, has office spaces on levels 1 to 6, 15 to 17 up to 7,500 sqm for lease through Cadigal Sydney and Cushman & Wakefield Sydney;
- 426 Victoria Avenue, Chatswood, a two-storey building with parking to the rear, completed 1988 and was externally refurbished in late 2012. The property with a net lettable area 1,346 sqm has office/retail space of 107 on ground level and 316 sqm on level 1 for lease through CBRE North Sydney and
- Solitaire at 12 Help Street, Chatswood, a 14-storey office building with three levels of basement parking for 193 cars; completed in September 1989 and refurbished in 2012. The building with net lettable office area 15,349 sqm, currently has office space ranging from 200 to 3,702 sqm over various levels for lease through JLL North Sydney and Cadigal North Sydney.
CoreLogic Australia