Commercial Market Update – South Sydney Cityscope April 2021
The latest research from South Sydney Cityscope shows that property sales for the quarter through March 2021 have increased in both total value and number of sales.
Sales recorded in the last quarter totaled $ 330.8 million on 36 sales, compared to $ 215.6 million on 26 sales in the quarter through December 2020 and $ 108 million on 29 sales during the quarter until September 2020.
This quarter brings the total year-over-year sales value to $ 753.1 million from 127 sales, down from $ 1.549 billion from 212 sales in the previous year.
The table below shows the sales recorded for the last eight updates of South Sydney Cityscope.
Notable South Sydney Cityscope March 2021 update sales include:
- 58-68 Euston Road, Alexandria, a factory / warehouse with an office level above a lower parking level and a warehouse to the rear plus a paved area for parking and loading, which was purchased for $ 50.6 million;
- Stratum lot 12 at Unity by Meriton, 256A Coward Street, Mascot, with a total area of 31,724 m2, including 3,551 m2 on each level from level 6 to level 13, 8 m2 on each level from ground floor to level 2 , two parts of the total 1,284 m² at parking level 1 and four parts of a total of 2,008 m² at parking level 2, were transferred to more than $ 49.66 million; and
- A 50% stake in 11-13 Lord Street, Botany, part of Lakes Business Park, comprising two buildings with 2- and 3-story office sections and high-clearance warehouses, as well as parking lots and landscaping surrounding areas, which were purchased for more than $ 47.68 million.
Properties listed as for sale in South Sydney Cityscope’s March 2021 update include:
- Gateway 241 at 241A O’Riordan Street, a 12-story office building constructed in 1992, with a net leasable area of 19,277 m2, typical floors of 1,878 m2 and four levels of underground parking for 401 cars. The property was renovated internally in 2014 and is for sale through JLL Sydney and Colliers International Sydney;
- Caritas Australia House at 24-32 O’Riordan Street, Beaconsfield, a 2 storey building with paved parking at the front, renovated in 2003 and 2010, 4200 m2 in area on 7581 m2 land, for sale via CI Australia and City Alliance Property – Waterloo; and
- 32-36 Maddox Street, Alexandria, a large clearance warehouse with mezzanine office on the street, with 8 car spaces and a building area of 1,859 m², which is for sale through Link Property Services and CBRE South Sydney.
Rental opportunities in South Sydney Cityscope’s March 2021 update include:
- 160 Bourke Road, Alexandria, part of South Sydney Corporate Park comprising a series of three 2-story warehouses and office buildings and a seven-level parking lot to the south, which includes warehouses / offices ranging from 10 to 3,021 m2 for rent by through Goodman Australia;
- Euston Distribution Center at 134-148 Euston Road, Alexandria, a 2 story warehouse / office building, built circa 1985 with a net leasable area of approximately 7,014m2 including 5,620m2 of warehouse space and 1,480m2 office space and on-site parking for 70 cars, which have warehouse space ranging from 2,304 to 6,918 m2 for rent through Goodman Australia and
- 69-71 Bourke Road, Alexandria, a large high-clearance warehouse built in 1996, south of the site a two-story office building and commercial parking lot. The building has a surface area of 12,490 m², with a warehouse of 3,028 m² to be let through Link Property Services and Colliers International Sydney South.