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Sydney market wrap

March 15, 2019

MOB Hair has leased space at 281 Old South Head Road, Bondi Beach, Sydney. Photo: Supplied

LEASING

Bondi Beach

Bondi-based salon MOB HAIR, owned by Tarryn Cherniayeff and Dan Walker, is moving into a bigger premise in the Eastern Suburbs and has leased a 175 square metre space at 281 Old South Head Road, from a private investor, comprising a heritage-listed façade, with a 1920s Spanish Mission style shopfront. The rent is between $500 per square metre to $550 per square metre net with a lease term of five years. Matt Pontey & Nick Lumley Colliers International.

Sydney

Ebury Partners has leased a 282.9 square metre fitted office suite at Suite 6.03, 580 George Street from GPT Group. The fintech company leased the space, overlooking the historic St Andrew’s Cathedral, on flexible lease terms, with asking rents in the building at $950 per square metre gross. Chelsea Anstee, Colliers International.

Parramatta

The engineering company, Downer has leased three floors over 3,012 square metres in the middle of Parramatta’s CBD, in conjunction with CPB contractors, NSW Transport and Transdev. It will be the base operations for the new Parramatta Light Rail project. The deal covers the mezzanine 3, Level 1 & Level 4, 31-39 Macquarie Street from a private owner. It is for three years plus options at $450 per  square metre gross plus GST. Jon Race, Khoury & Partners.

Chatswood

Quantity surveyors Wilde and Woollard are leasing one of the last available 350 square metre suites at 67 Albert Avenue from CorVa. Mr Kernaghan said. The tenancy is on the eighth floor of the 20-storey level, A-grade building, which has expansive views south towards the Sydney skyline. In 2016, a refurbishment of the lobby and end-of-trip facilities won a Master Builders Association of NSW Excellence in Construction Award. The rent is $580 per square metre net for lease term of five years.Jaime Kernaghan, JLL.

Sydney $950.00 per square metre gross

PMG Group (NSW) Pty Ltd has leased a 307.40 square metre office at Level 4, 332 Kent Street from GWA Pty Ltd. The Kent Street property is located in the heart of the western corridor of Sydney’s CBD. The neighbourhood boasts laneway restaurants, bars and immediate access to all public transport services. The lease term is six years with a rent of $950 per square metre gross. Christina Malcolm, Savills Australia

SALES

St Ives $5.62 million

A local private has sold a 1,518 square metre parcel of land at 20 Cowan Rd, St Ives, directly overlooking Pymble Golf Club to Kahlefeldt Securities Pty Ltd for $5.62 million. Stuart Cox, Neil Cooke and Johnathon Broome of Savills negotiated the deal.

Glebe

Phung, Luong & Le has sold a 157 square metre freehold mixed-use asset at 18 Glebe Point Road to Bluehills Holding Pty Ltd, for $1.95 million. Bradley Potts and Harry Bui, Colliers International.

Sydney

KH Group International Pty Ltd has sold a 65 square metre office suite, plus lock up garage, at Suite 439/Level 5, 301 Castlereagh Street to SORP Pty Ltd for $550,000, equal to $8,462 per square metre. John Skufris, Ray White Commercial South Sydney.

Merriwa

The well-known Merriwa property Parkway was sold via Meares Online Auction to an undisclosed purchaser. Passed in at auction for $3.4 million, the property was sold immediately after to the losing bidder, by marketing agents John Flood, Flood Rural and Water, Muswellbrook, and Sydney rural property specialists, Meares & Associates. Parkway was offered for sale by auction simultaneously with nearby property, Templemore, which was passed in at $4.75 million and is now available for sale privately for $5.2 million.

Matraville

Nikolaos Glytsos has sold a 1,300 square metre property at 2-6 Perry Street to Matraville Properties Pty Ltd for $4.18 million. Marino Rodriguez, Taylor Nicholas South Sydney.

Fairfield

F & H Enterprises Pty Ltd has sold a 1,297 square metre development site at 50 Nelson Street, 5 Hardy Street and 7 Hardy Street Fairfield for $1.85 million to E Gorgees Pty Ltd ATF The Gorgees Family Trust. The site comprises three residential homes with DA approval for 16 two-bedroom apartments. Terry Hassan and Demi Carigliano, Knight Frank.

MOVERS

Cushman & Wakefield has strengthened its office leasing platform with the appointment of Rob Dickins. He joins after more than 35 years working for Savills, holding senior positions.

Savills Australia has boosted its industrial & business services division with the appointment of 12 industrial team members from JLL, including directors Michael Wall, Nick Crothers, Brad Esler, Scott Nienhuis, Jeremy Cooper and Ed Washer. National head of industrial & business services, Michael Fenton, who also joined Savills from JLL last year, said the recruitment was consistent with the business’ national growth strategy to take Savills to the top ranking in the Australian industrial market.

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