The latest research from Eastern Sydney Cityscope shows commercial property sales values have decreased in the past three months.
Sales recorded in the quarter to October 2021 totalled $245.3 million from 32 sales, a decrease from the $385.4 million from 33 sales recorded in the quarter to July 2021 but an increase from the $133.7 million from 25 sales recorded in the quarter to April 2021.
This data brings the 12 month total to $917 million, an increase from the $318.9 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 October 2021 update of Eastern Sydney Cityscope include:
- Double Bay Plaza at 19-27 Cross Street, Double Bay, a complex of single and 2-storey retail units, some with a mezzanine floor, a building area of approximately 800 sqm and site area of 1,334 sqm, which was bought as a development site for $94 million through 1st City - Double Bay;
- Arts Hotel, formerly Sullivan’s Hotel at 21-25 Oxford Street, Paddington, a four-storey building comprising ground floor retail space, 64 hotel rooms on the upper levels and basement level car parking with an entrance to Iona Lane, which was bought $30 million through Knight Frank (Sydney) and Oxford Agency and
- 28-34 Bronte Road, Bondi Junction, two buildings, a 3-storey building in Gray Street and W Stone, a 2-storey building built in 1900 in Bronte Road, which were bought in a related party sale for $22.689 million.
Properties listed as for sale in the October 2021 update of Eastern Sydney Cityscope include:
- Burdekin at 2-4 Oxford Street, Darlinghurst, a late 1800's, four-storey Federation building with an inter-war Art Deco style overlay, a roof top bar renovated in 2021 and a building area of 1,221 sqm, which is for sale through IB Property Surry Hills;
- Centennial Flats at 12A-14A Queen Street, Woollahra, a three-storey brick and tile building with four retail shops on the ground level, 10 residential units on the upper levels and on-grade parking for six cars with three more garages to the rear with a building area of 1,075 sqm, which is for sale through Colliers International Sydney and
- Palace Verona Centre at 17 Oxford Street, Paddington, a four-storey building comprising retail space on the ground and level one, four cinemas with 366 seats on the second level, office space on the third level and parking for 8 cars and a building area of 2,992 sqm. Original building built circa 1946 with a 2 story extension completed by 1996 when the cinema was officially opened by Nicole Kidman, which is for sale through CBRE Sydney and IB Property.
Leasing opportunities listed in the October 2021 update of Eastern Sydney Cityscope include:
- 107-109 Regent Street, Redfern, a two-storey building with ground floor retail, completed in 1909 with a building area of 880 sqm, which is available for lease through X Commercial Surry Hills;
- 150 William Street, Woolloomooloo, an eight-storey office building, with four levels of basement parking for 74 cars and balconies to the rear, built 1986 and refurbished in 1996 and 2016, which has office space of 770 sqm with an 114 sqm outdoor terrace for lease through Mercer Property and
- York House at 101-115 William Street, Woolloomooloo, a four-storey inter-war building to the west, refurbished in 2005, and a three-storey brick building to the east, refurbished in 1996, which has office space ranging from 44 to 1,127 sqm for lease through Colliers International Sydney.
CoreLogic Australia