By Commercial Research

Norwest Cityscope Quarterly Sales

The latest research from Norwest Cityscope shows a substantial increase in the total value of sales over the last quarter, primarily due to the sale of the Woolworths headquarters at 1 Woolworths Way, Bella Vista. For the three months to January 2016, there were 20 sales at a total value of $348.2 million, compared to the 38 sales at a total value of $73.5 million for the three months to October 2015, and the 44 sales at a total value of $24.8 million for the three months to July 2015.

This data brings the 12 month total to $511.8 million, a considerable increase from the $203.3 million recorded the same time last year.

The table below shows sales recorded for the last eight updates of Norwest Cityscope.

Notable sales recorded in the January 2016 update of Norwest Cityscope include:

  • The Woolworths Corporate Headquarters at 1 Woolworths Way, Bella Vista, three large interconnected four storey office buildings with basement level parking for 2,341 cars, sold for $336.45 million; and
  • Unit 218 and unit 219 in Nexus Norwest, 4 Columbia Court, Baulkham Hills, a five storey office building with ground level and basement parking. The two units comprise a net lettable area of 266 sqm and a combined 10 car spaces, sold together for $1.01 million.

Significant properties for sale in the January 2016 update of Norwest Cityscope include:

  • Suite 307 in The Solent Centre at 1-3 Burbank Place, Baulkham Hills, a group of three office buildings of two to three storeys and on-grade parking; the unit comprises 147 sqm and 6 car spaces and is for sale through Coutts Real Estate – North West;
  • Suite 705, suite 706 and suite 707 in 12 Norwest Central at 12 Century Circuit, Baulkham Hills, a seven storey office building above ground level retail shops and basement car park; the three units comprise a net lettable area of 921 sqm and a combined 23 car spaces and are for sale through Hills Commercial Real Estate; and
  • Unit B41 in Lexington Corporate Stage 1, at 24-32 Lexington Drive, Bella Vista, a complex of seven commercial buildings of one to six storeys, with on-grade and basement car spaces; the unit comprises a net lettable area of 201 sqm and 9 car spaces and is for sale through Coutts Real Estate – North West.

Norwest Cityscope Quarterly Sales graph

Significant leasing opportunities in Norwest Cityscope include:

  • The Vantage Building at 7-9 Irvine Place, Bella Vista, a 5-storey commercial building with a cafe at ground level and undercover parking, with a net lettable area 12,760 sqm, has office space of 3,319 sqm for lease through Coutts Real Estate – North West and Norwest Commercial and Industrial Real Estate; and
  • Norwest Quay at 21 Solent Circuit, Baulkham Hills, a four-storey office building above three levels of basement parking, with a net lettable area of 10,836 sqm, has 1,014 sqm for lease through Colliers International Sydney West and Norwest Commercial and Industrial Real Estate.

Commercial Research


Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic RP Data products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.


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Source: RPD

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