Parramatta CBD commercial sales near $1 billion annually

The latest research from Parramatta Cityscope shows commercial property sales have dramatically increased in the past three months, the result of several large sales. 

Sales recorded in the quarter ending September 2015 in Parramatta totalled $492.4 million, an increase from the $85.1 million recorded in the three months to June 2015, and an increase from the $170.2 million recorded to March 2015. 

"This data brings the 12 month total to $940.3 million, an increase from the $772.2 million recorded the same time last year," Citiscope commercial research analyst Meredith Baume said.

Sales included 20 Charles Street, Parramatta, an eight-storey office building with retail areas on the ground floor and parking for 162 cars, which was bought for $31 million.

There was also 91 Phillip Street, Parramatta, a nine-storey building with ground floor showrooms, eight levels of offices and parking for 133 cars, which was sold for $30 million.

CoreLogic's Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand.