The latest research from Eastern Sydney Cityscope shows commercial property sales values have increased in the past three months.
Sales recorded in the quarter to July 2021 totalled $382.9 million from 32 sales, an increase from the $133.9 million from 25 sales recorded in the quarter to April 2021 and an increase from the $152.6 million from 26 sales recorded in the quarter to January 2021.
This data brings the 12 month total to $759.5 million, an increase from the $406 million recorded the same time last year.
The table below shows sales recorded for the past eight updates of Eastern Sydney Cityscope.
Notable sales listed in the July 2021 update of Eastern Sydney Cityscope include:
- InterContinental Sydney Double Bay, at 33 Cross Street, Double Bay, a five-star, five-level boutique hotel, which includes a retail area with 37 shops (The Promenade), a dining and ballroom area, a conference area, four floors of residential units, 140 hotel suites and two levels of basement car parking for 156 cars, which was bought for approximately $178 million through The Agency;
- 27 Bay Street, Double Bay, a 2-storey building, reconstructed in 1992; 23-25 Bay Street, Double Bay, a 2-storey building comprising retail space on ground level and offices upstairs and 21 Bay Street, Double Bay, a 1 and 2-storey building, with a combined site area of 823 sqm, which were bought together as a development site for approximately $38.5 million through Colliers International Sydney and
- Savoy Hotel Double Bay, at 35-49 Knox Street, Double Bay, a 4-storey building with 40 hotel rooms, three retail shops at street level and security parking for guests, which was bought for $35 million through BradfieldCleary - Double Bay.
Properties listed as for sale in the July 2021 update of Eastern Sydney Cityscope include:
- The Paddington Square, at 2-8 Elizabeth Street, Paddington, an existing two-storey terrace at 2 Elizabeth Street with a two-storey extension to the rear at Victoria Street; a new three-storey mixed-use building 4 Elizabeth Street and at 6-8 Elizabeth Street, a two-storey brick building built circa 1903, which was retained and refurbished with a second-storey extension, all completed in 2016, along with parking to the rear for 13 cars, on a site area of 713 sqm, which is for sale through Ray White Woollahra;
- 82 Bronte Road, Bondi Junction, a 2-storey building of 230 sqm with a residence upstairs and a site area of 145 sqm, which is for sale through Raine & Horne Commercial Paddington and
- Lot 2 at 185A Bourke Street, Darlinghurst, a 38 sqm retail unit on the ground level on the corner of Bourke Street and Barnett Lane, which is for sale with an asking price of $950,000 through LJ Hooker Commercial - Sydney/North Sydney.
Leasing opportunities listed in the July 2021 update of Eastern Sydney Cityscope include:
- 28-36 Foveaux Street, Surry Hills, a B-grade 10-storey commercial building, which has office space of 150 to 2,118 sqm for lease through Property Fox;
- Habitat House at 64-76 Kippax Street, Surry Hills, an eight-storey warehouse conversion commercial building with retail on the lower ground floor and 72 car parking spaces, which has office space of 2,250 sqm (750 sqm on levels 4, 5 & 6) for lease through Savills Sydney and
- 100 William Street, Woolloomooloo, a 24-storey, 29,850 sqm office building with basement parking to the east, which has office space of 900 sqm on level 2, 898 sqm on level 4 and 882 sqm on level 21 for lease through CI Australia and Colliers International Sydney.
CoreLogic Australia