The latest research from Pyrmont Ultimo Cityscope shows that commercial property in both sales value and volume have decreased in the past three months.
Sales recorded in the quarter to October 2021 totalled $99.6 million from 23 sales, a decrease compared to the $219.6 million from 32 sales in the three months to July 2021 but an increase in sales value compared to the $89.5 million from 25 sales in the three months to April 2021.
This data brings the twelve-month total to $438.5 million from 98 sales, a significant increase from the previous twelve-month total of $284.5 million from 83 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the October 2021 update of Pyrmont Ultimo Cityscope include:
- 39-47 Regent Street, Chippendale, a six-storey commercial building of 3,844 sqm, refurbished in 2017, on a 673 sqm block of land, which was bought for $68.5 million on an initial yield of 4.16%;
- Suite 58 at Jones Bay Wharf, 26-32 Pirrama Road, Pyrmont, a three storey 683 sqm office suite comprising 321 sqm plus a 105 sqm balcony on level 3, 266 sqm on level 4 and 96 sqm on level 5, which was bought with three car spaces for $9.25 million through agent Deans Property – Broadway and
- Two three storey office suites at Jones Bay Wharf, 26-32 Pirrama Road, Pyrmont, Suite 12, a 170 sqm office suite comprising 69 sqm plus a 25 sqm balcony on level 3, 76 sqm on level 4 and 25 sqm on level 5, and Suite 16, a 171 sqm office suite comprising 69 sqm plus 25 sqm balcony on level 3, 77 sqm on level 4 and 25 sqm on level 5, which were bought with two car spaces for $4.4 million through DB Property.
Properties listed as for sale in the October 2021 update of Pyrmont Ultimo City scope include:
- Three properties with a combined land area of 768 sqm, including 562-570 Harris Street, Ultimo, a two-storey high-clearance warehouse building with a take-away shop fronting Macarthur Street and a workshop/factory at the rear, 572 Harris Street, Ultimo, a two-storey commercial building and 574-576 Harris Street, Ultimo, a piece of vacant land, which are for sale as a development site through Next Commercial;
- 147-149 Glebe Point Road, Glebe, a single-storey retail building of 460 sqm with an awning supported by wooden columns, on a block of 331 sqm, with a DA approved for mixed-use development, which is for sale as a development site through Ray White Commercial Sydney City Fringe and
- 151 Regent Street, Chippendale, a two-storey commercial building in Victorian Italianate style, with a gross floor area of 475 sqm including 200 sqm on the ground level. The ground level and basement are retail and/or commercial space; the upper level is a 3-bedroom residence, which is for sale through Bresic Whitney Estate Agents.
Leasing opportunities listed in the October 2021 update of Pyrmont Ultimo Cityscope include:
- Workshop at 21-43 Harris Street, Pyrmont, a 7-storey commercial building with a gym, child care centre, retail tenancies, end-of-trip facilities and parking for 188 cars on ground level, net lettable area of 18,888 sqm and typical floor plate of 2,650 sqm, which has office space ranging from 215 sqm up to 4,230 sqm available through Karbon Property – Sydney and Cushman & Wakefield – Sydney;
- 44 Mountain Street, Ultimo, a three-storey retail and commercial building with a raised parapet to Mountain Street and secure parking accessible from Smail Street, which has retail space 342 sqm and office space ranging from 476 sqm to 3,245 sqm for lease through Deans Property - Broadway and
- 55-59 Regent Street, Chippendale, comprising a three-storey commercial building to the corner of Regent and Outram Streets, a five-storey commercial building to Regent Street and a five-storey building to the corner of Kensington and Outram Streets, with total building area of 3,216 sqm and typical floor plate of 754 sqm, which has office space ranging from 427 to 3,216 sqm for lease through Karbon Property – Sydney.
CoreLogic Australia