Creative demand
One area has been at Birkenhead Point's commercial space, and at Coogee in the south.
The senior commercial sale and leasing negotiator at CBRE, Nick Sinclair, said transaction activity was up significantly over the past few months, with the recently refurbished offices at 19 Roseby Street, Drummoyne, close to fully leased.
"We have leased about 2400 square metres of creative office over 12 deals since January this year, with another 1032sqm under offer to seven tenants, leaving only 100sqm of vacancy," Mr Sinclair said.
"The ... demand currently being seen in this sector of the market is reflective of the shortfall of quality creative space in this area of Sydney."
The largest deal at the Roseby Street property this year was the leasing of an 830sqm office space to Redcape Hotel Group.
At Coogee, CBRE's Daniel O'Brien and Olivia Skinner recently sold a Commonwealth Bank branch for $5.59 million.
The property at 199 Coogee Bay Road was bought by a private buyer.
Frequently Asked Questions about this Article…
According to the article, leasing and buying demand for creative office space in Sydney’s inner-west and south has increased transaction activity across the metro market. CBRE’s Nick Sinclair says this demand reflects a shortfall of quality creative space in those areas.
The article highlights activity at Birkenhead Point, Coogee in Sydney’s south, and Drummoyne (specifically 19 Roseby Street) as key hotspots for leasing and sales of creative commercial space.
CBRE reported that about 2,400 square metres of creative office space at 19 Roseby Street has been leased over 12 deals since January this year.
CBRE said another 1,032 sqm is currently under offer to seven tenants, leaving only about 100 sqm of vacancy at the recently refurbished 19 Roseby Street offices.
The largest deal at 19 Roseby Street this year was the leasing of an 830 sqm office space to Redcape Hotel Group.
Yes. CBRE agents Daniel O’Brien and Olivia Skinner recently sold a Commonwealth Bank branch at 199 Coogee Bay Road for $5.59 million; the property was bought by a private buyer.
The article mentions CBRE and its agents — Nick Sinclair (senior commercial sale and leasing negotiator), and Daniel O’Brien and Olivia Skinner — as handling leasing and sales. It also references Redcape Hotel Group as a tenant and a Commonwealth Bank branch that was sold.
The article indicates stronger transaction activity and a shortage of quality creative office space in parts of Sydney’s inner-west and south. For everyday investors, that points to heightened demand and competition for well-located, refurbished creative assets in those suburbs.
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