Pyrmont-Ultimo commercial sales fell in value in quarter to April: Cityscope

The quarterly update of Pyrmont-Ultimo Cityscope shows a large decrease in sales value even though sales activity has increased.

The most recent quarter had a total of 41 sales at a value of $29.6 million, compared to 37 sales at a total value of $201.5 million for the quarter ending January 2016. The 12 month total sales figure stands at $540.3 million for the year ending April 2016, with 165 sales recorded over that period.

This is in comparison to the previous 12 months when the year ending April 2015 had 162 sales totalling $681.8 million.

Notable sales in the areas covered by Pyrmont-Ultimo Cityscope for the April 2016 update include:

• Suite 127, 26-32 Pirrama Road, Pyrmont, a 601 sqm office suite comprising a 332 sqm office suite plus a 106 sqm courtyard on level 1 and a 269 sqm office suite on level 2, which was bought for $3.4 million through Hartigan Bolt and Fringe Commercial and
• 82 Harris Street, Pyrmont, a two storey sandstone building, built circa 1870, which was originally a bakery with a residence above and which was bought for $3 million through Richardson & Wrench Pyrmont/Glebe.

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Properties for sale in the latest update of Pyrmont-Ultimo Cityscope include:

• The Terminus Hotel, 61 Harris Street, Pyrmont, a two storey brick heritage building with a rendered parapet, built in 1915 and on a site area of 489 sqm, available through JLL and Ray White Hotels and
• 315-317 Glebe Point Road, Glebe, a two storey brick building with three ground floor shops and residential on the upper floor, available through CMS Real Estate.

Leasing opportunities listed in the April 2016 update of Pyrmont-Ultimo Cityscope include:

• The Cooperage, 56 Bowman Street, Pyrmont, a five level brick warehouse building originally constructed in 1901 and later converted for use as offices, which has 200 sqm to 2,500 sqm for lease through Deans Property and Ray White Commercial Inner West and
• City West Office Park, 35 Saunders Street, Pyrmont, three office buildings grouped around a central landscaped courtyard which has 1,330 sqm for lease through CBRE and Knight Frank Sydney.