The latest research from Norwest Cityscope shows property sales for the quarter to October 2021 have increased significantly in terms of total value.
For the three months to October 2021, a total value of $509.6 million recorded from 36 sales, an increase compared to the total value of $26.3 million from 27 sales in the three months to July 2021 and an increase compared to the total value of $49.9 million from 14 sales in the three months to April 2021. This large increase is mainly attributable to the sale of the Woolworths Corporate Headquarters at Bella Vista.
This data brings the 12-month total to $605.3 million, a large increase from the $162.3 million recorded the same time last year.
The table below shows sales recorded for the last eight updates of Norwest Cityscope.
Notable sales in the October 2021 update of Norwest Cityscope include:
- Woolworths Corporate Headquarters, at 1-11 Lexington Drive, Bella Vista, three large interconnected four-storey office buildings with on-grade and basement level parking for 2,341 cars, completed in 2005. Developed at an estimated cost of $200 million, the complex includes retail units and cafes, sports facilities and an auditorium with a total net lettable area of 44,828 sqm and to the north-west of the site is a separate 4-level car parking building containing 1,068 car parking spaces, which was bought for a $463.25 million through CBRE and Colliers International Sydney and
- 6 Century Circuit, Norwest, a two-storey building enclosing an indoor swimming pool, with on-grade parking for 40 cars and a site area of 3,680 sqm, which was bought for $20.5 million.
Properties for sale in the October 2021 update of Norwest Cityscope include:
- Lot 30 (known as Suite A208), in Norwest Sky City, 20 Lexington Drive, Norwest, 0.47% of the unit entitlement, comprising 79 sqm on level 2 of the South Tower (Building A) and 39 sqm of parking on car park level 2 (south), which is for sale at an asking price of $679,000 through Partner Commercial Property Norwest and
- Lot 53 (known as Suite B111), in Norwest Sky City, 20 Lexington Drive, Norwest, 0.57% of the unit entitlement, comprising 93 sqm on level 1 of the North Tower (Building B) and 52 sqm of parking on car park level 1 (north), which is for sale with an asking price of $795,000 through Partner Commercial Property Norwest.
- Lot 21 (known as Suite 306), Norwest Central, 12 Century Circuit, Norwest, comprising 112 sqm on level three with a 28 sqm balcony and 55 sqm of parking on basement level two (north), which is for sale through Norwest Commercial & Industrial - Baulkham Hills.
Leasing opportunities in the October 2021 update of Norwest Cityscope include:
- 7 Maitland Place, Norwest currently vacant land with plans for a 6 to 8 storey commercial building comprising 95 office suites, ground floor food and drink premises, roof top restaurant with outdoor seating and basement car parking for 284 cars, has office space ranging from 40 to 900 sqm plus whole floors available for pre-lease through PRD Nationwide Norwest;
- Lot 5 at 5-7 Inglewood Place, Norwest, comprising 186 sqm on the lower ground floor and 80 sqm on the ground floor, with 47 sqm of parking on the lower ground floor and 14 sqm of parking on the ground floor, which is for lease through Hills Central First National and
- Pinnacle Estate, 1 Celebration Drive, Bella Vista, comprising 210 sqm on the mezzanine level and 83 sqm of parking on the mezzanine level with 6 car spaces, which is for lease through Hills Central First National Castle Hill.
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