Commercial Market Update – Sydney Cityscope August 2021


The latest research from Sydney Cityscope shows that the total value of commercial property sales in Sydney CBD for the three months ending August 2021 increased in total value compared to the previous quarter.

There were 66 sales recorded for the most recent quarter with a total value of $ 1.260 billion, compared to 51 sales for a total of $ 512 million for the quarter ending May 2021 and 29 sales for a total of $ 2.436 billion for the quarter ending May 2021. February 2021.

For the year ending August 2021, 185 sales were recorded for a total of over $ 5.547 billion, compared to 199 sales for a total of $ 5.075 billion for the year ending August 2020.

The table below shows the sales recorded for the last eight Sydney Cityscope updates:

Recent notable sales at Sydney Cityscope in August 2021 include:

  • A 50% stake in the EY Center at 200 George Street, Sydney, a 37-story office tower comprising 33 office levels and 4 levels of 63-car parking, incorporating the existing buildings at 190 and 200 George Street and 4 Dalley Street, 11 – The old Dalley multi-storey telephone exchange building renovated for installation and maintenance, completed and officially opened in June 2016. It has a net leasable area of ​​38,983 m², which was purchased for $ 575 million;
  • 60 Carrington Street, Sydney, an 18-story office building with underground parking for 21 cars. Built in 1971 and recently renovated in 2016, with a gross area of ​​19,330m² comprising 13,862m² of retail space and 686m² of retail space on the ground floor, which was purchased in two separate transactions by two parties for approximately $ 140 million each; and
  • 50 Carrington Street, Sydney, a 19 story building with a commercial level and 20 underground parking spaces. The net leasable area is 10,885 m² with a typical floor space of 825 m², which was purchased in two separate transactions for a total of approximately $ 214 million.

Properties for sale in Sydney Cityscope in August 2021 include:

  • B’s Hotel at 390-396 Pitt Street, Sydney, a seven story brick building with offices, retail and hotel rooms with a net rentable office space of 3,521 m². Refitted in-house at the end of 2009 at an estimated cost of $ 7 million, available through Colliers International – Sydney;
  • Lot 45 at 37 York Street, Sydney, 423 m² of office space on level 11 of a 15-story strata commercial building with 4 strata stores on the ground floor plus parking, available through Colliers International – Sydney and
  • Unit 10, known as Suites 104-107, a 104m² office and Unit 11, known as Suite 103, a 26m² office at 229 Macquarie Street, Sydney, both on the first floor. floor of the William Bland Center, a 12-story stratum commercial building, completed in 1961 and renovated in 2001, which are available through Noonan Property – Sydney.

Properties with space for rent in Sydney Cityscope in August 2021 include:

  • Foreshore House at 66 Harrington Street, The Rocks, a 3 to 5 storey office building with secure parking covering an area of ​​5,973 m². The building was renovated in 2000 and modernized again in 2017, which has office space ranging from 1,180 to 5,973 m² available for lease through CBRE Sydney;
  • 55 Market Street, Sydney, a 22 storey commercial building, completed in early 1990. Features 4 retail floors, 18 office floors and underground parking for 49 cars. The net leasable area is 22,000m² and the typical floor size is 1,062m² which includes office space ranging from 124 to 8,924m² available for rent through Cushman & Wakefield – Sydney and
  • 54 Park Street, Sydney, a 12-storey building constructed circa 1921, with extensions constructed to the south of the property in 1965. The net rentable office area is 15,950 m², including office space ranging from 120 to 10,000 m² available for rent through CBRE Sydney and JLL – Sydney.

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