As vacancy levels continue to maintain a low rate across the Sydney CBD market and rents remain expensive, office strata deals are the hot ticket in town as investors prefer to buy rather than pay high city rents.
The demand for office leasing remains high due to a limited supply of strata offices in the city on account of developers buying many sites with the intention of converting them to residential.
“Since 2017 there has only been eight freehold investment transactions sold between $5 million to $20 million within the CBD totalling $77.4 million”, according to Ray White commercial's head of research, Vanessa Rader.
"Limited supply available for sale has also increased competition and been instrumental in growing capital values into 2018 after standout increases in 2016 and 2017," Ms Rader said.
Image and article source: https://www.smh.com.au/business/companies/office-strata-deals-are-the-hot-ticket-in-town-20190410-p51cpk.html
Ray White’s top 10 listings for April: (Click on the address to view listing)
Level 6, 27 Macquarie Place SYDNEY
Level 4, 63 York Street SYDNEY
Level 10, 23 O'Connell Street SYDNEY
Suite 709, 1 Margaret Street SYDNEY
Suite 303, 46 Market Street SYDNEY
Suite 102, 66 Clarence Street SYDNEY
Level 1, 107 Pitt Street SYDNEY
Suite 804, 25 Bligh Street SYDNEY
Suite 1004, 46 Market Street SYDNEY
Level 4, 387 George Street SYDNEY