Market Wrap: all the leasing and sales activity in and around Sydney

Hotels Combined has inked a 1500-square-metre lease for the ground floor and Level 1, 29 Balfour Street from Marks Henderson. The deal was signed at $875 per square metre net for seven years. Solid brick heritage building with original timber and concrete floors has been transformed into Hotels Combined new Sydney office. Designed by SJB to celebrate the industrial character of the building’s past whilst the added contemporary insertions make this well positioned building at home in the cutting edge hub of Chippendale. James McCourt and Joshua Watts of Karbon Property negotiated the lease.

Bankstown

Sydney Wide Distributors has signed a 1505-square-metre lease of a warehouse site at 64 Gow Street from a private investor. The previous tenant was TWS. The deal was done at $108 per square metre for five years. The food distribution company has taken additional space to cater for the busy period is supplying supermarkets in Sydney metro. Jon Orsborn of LJ Hooker Commercial Bankstown negotiated the lease.

Pyrmont

The Lloyd Group has taken up a 217Adelaide: 97 King William Street, Kent Town.  lease of a boutique office at 7, 21 Harris Street from the Milligan Group. The deal was inked at $1,120 per square metre gross for four years. As the CBD moves West, 21 Harris Street is positioned for next generation success. Lloyd Group moved into Boutique Office 7 in mid-March 2020. Lloyd Group is an award winning construction group offering a holistic approach to projects. The new Sydney office has been fitted out to showcase Lloyd Groups capabilities. Charles Bowmer and Joshua Watts of Karbon Property negotiated the lease.

SALES

Ultimo

The Whitehouse Group has sold a 587-square-metre building at 424 Harris Street for $6.42 million to a private investor. Known as The Old Bristol Arms’ the three storey office and basement, with mixed use zoning sale, came to market in 2019 with the property settling February 2020. Joshua Watts and Tom Williams of Karbon Property negotiated the sale.

Silverwater

A private owner occupier, Ornelas, has sold a 1,568-square-metre freestanding warehouse on a land area of 2,496 square metre at 104 Derby Street to Parramatta Asset Management Pty Ltd for $5 million.The property has internal clearances of 7m and access through one large roller shutter door. LJ Hooker Commercial’s Aymen Sobbi and Daniel David negotiated the sale prior to auction.

Sydney