News Archive
Bayswater Road booms
21 May 2011
INVESTORS are pouring cash into Bayswater Road , Potts Point, at a rapid rate, moving the address into the spotlight as the place to be seen. Having been in the shadow of the better-known Darlinghurst Road and Macleay Street , this part of the area on the Kings Cross-Potts Point boundary is now the target of developers, restaurateurs and new residential dw...
Fringe cut grows back
29 November 2010
THE city-fringe commercial market regained confidence and gathered momentum during 2010 as investors shrugged off any concerns of rising interest rates. Boosting demand in the suburban and city-fringe precincts is the limited supply of new space in Sydney’s central business district. The only dark cloud is the potential for future rises in interest rates...
Sales surge despite rates
08 November 2010
FUELLING the debate that private investors have not been spooked by rising interest rates is data showing the number of transactions completed in the past six months is back to pre-global financial crisis levels. Although the jury is out on what may occur to sentiment after the surprise Cup day rate rise, buyers and their bankers appear to have reached a happy medium. The mana...
Site for sale close to hospital
07 August 2010
Developer Michael Teplitsky’s Tepcorp Developments is selling the top floor at the former HPM site, at 8 Hill Street Surry Hills, worth about $2 million. Selling agent Miron Solomons, of City Commercial, said the 200-square-metre site would be keenly sought, given its proximity to the facing St Margaret’s Hospital site, which Tepcorp also redeveloped.
Seedy reputation no bar to investors
31 July 2010
Private investors have snapped up more then $30 million of retail and residential assets in Kings Cross in the past months in defiance of the economic gloom and the unwillingness of banks to provide financing. A number of pubs have also changed hands and leasing activity in the small-office sector has improved. Buyers have come from far and wide, with some bidding down the phone from Adelai...
Charity Begins At Work
05 June 2010
Proving that quality and location remain the key elements to a property deal was the sale by the Hayson Group of the Harris Farm Market in Springfield Avenue, Potts Point, for $10.2 million to a private investor, according to the selling agent, Warren Duncan of City Commercial. The sale come as Colliers International prepares for its second major NSW auction for this year with $7500 set to be d...
Supermarket Sold For 10 Million
03 June 2010
A Harris Farm supermarket at Potts Point in Sydney has sold under the hammer for $10.2 million. Harris Farm is on a 10 year lease with two options to extend for five years. This is one of 24 Harris Farm stores in NSW. The property in Springfield Avenue, was marketed by Warren Duncan of City Commercial Property. It has a net income of $795,533 a year. The Hayson Group, which developed ERA on Sp...
Two Year Wait Over
23 May 2010
THE former site of the Hard Rock Café in Crown St, Darlinghurst, has finally sold after sitting idle for more than two years. The Skin and Cancer Foundation is the new owner, buying it at auction for a cool $6.15 million through City Commercial Property’s Warren Duncan. It has last sold for 2.9 million in 1993 and has been for sale since April, 2008. The foundation plan to move its h...
City Fringe Sales Surge
22 May 2010
The sharemarket volatility has proved a bonus for the property world in recent times. According to agents, small to medium-size investors are now using their self-managed super funds to buy bricks and mortar instead of indirect ownership through the equity markets. The head of Darlinghurst-based City Commercial, Warren Duncan, said a recent spate of sales had highlighted that cashed-up buyers st...
Beside and Seaside
24 April 2010
The lure of Bondi Beach is proving as strong as ever, evidenced by a number of recent sales along Campbell Parade (pictured). The latest site is a 195-square-metre area at Shop 15, 102-106 Campbell Parade. According to the selling agent of City Commercial, Warren Duncan, the rent from the site is $240,000 a year and it will be sold as a leased investment or vacant p...
