The North Sydney Commercial Market Increases

According to new figures released by CoreLogic, the total value of sales of commercial property in North Sydney increased in the July quarter.

During the last quarter, North Sydney recorded 54 sales totaling $ 769.1 million, compared to $ 50.3 million in April and $ 263.1 million for a total of 49 sales in January 2019, according to numbers.

According to CoreLogic, the increase in value is due in large part to North Point's sales at 100 Miller Street and 111 Pacific Highway, [1059002].

However, the quarter only brings the total value of sales over 12 months, from 166 to $ 1.549 billion, against $ 2.537 billion against 205 the previous year.

Here are the notable sales of the July 2019 update:

50% ownership in Northpoint, 100 Miller Street, North Sydney, in a 44-storey office building with a gallery of specialty shops on two levels and underground parking for 423 cars on six levels, fully renovated in 2018 ; plus a 187-storey, 187-story Vibe Hotel recently built at the north end of the site, sold for $ 300 million
111 Pacific Highway, North Sydney, a 24-storey office building with a two-story circular annex facing the intersection of Pacific Highway and Walker Street. There is underground parking for 164 cars and specialty shops on the ground floor in the office building. The net leasable area is 18,684 m², comprising 17,357 m² of offices and 1,327 m² of commercial premises, sold for $ 275 million.
A lot of stratification in the recently completed development of The Albany Crows Nest, including parking, retail spaces and commercial space, which sold for about $ 42 million.

Source: CoreLogic

Top suburbs:

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