Northern Beaches Market Update
Northern Beaches 300
Total sales on the Northern Beaches over the last 12 months
16 The Strand, Dee Why
C5/15 Narabang Way, Belrose
77 Winbourne Road, Brookvale
48-50 Wattle Road, Brookvale
45/14 Narabang Way, Belrose
4116/834 Pittwater Road, Dee Why
367 Pittwater Road, North Manly
7/5A Raglan Street, Manly
8/5 Vuko Place, Warriewood
36/4-7 Villiers Place, Cromer
202-204 Condamine St, Manly Vale 15 Orchard Road, Brookvale
Sale Statistics How the Northern Beaches Commercial property market performed over the last 12 months
$100,000,000 Highest Sale Price on 5.37% net return
$11,800
$12,000
$36,000
Highest Industrial $/m2
Highest Office $/m 2
Highest Retail $/m 2
2.5%
5%
4%
Lowest Industrial yield circa
Lowest Office yield circa
Lowest Retail yield circa
Sources: REA and Core Logic. Please note that property sales data is routinely updated, so may change retrospectively.
Market Update The industrial sector has been resilient over the last 12 months demonstrating to be Covid proof. Yield compression and high square metre rates across the Northern Beaches have paved the way for records being smashed on almost every sale. This growth has been attributed to an increase in demand and a severe lack of supply throughout the area. With very few new developments being built or in the pipeline we are experiencing industrial vacancy rates of less than 1%. Every warehouse we Auctioned in the last 12 months exceeded vendor expectations and had multiple buyers missing out. Owner occupiers have been outbidding investors in most situations as the importance of securing a location for their business far outweighs the premium they are paying now. Industrial investors though are now having their interest piqued and being brought back into the market by substantial rises in rents never before seen on the Northern Beaches. Demand for storage and warehouses suitable for local trades is at the forefront of this and is a great opportunity for owners if they are considering selling. Suburban office is benefiting with a large movement away from Sydney CBD and North Sydney with flexible work arrangements resulting in staff working closer to home. Urban areas like Manly and Dee Why are experiencing the lowest vacancy rates in decades with A grade and even older stock being snapped up quickly. Local companies have moved from larger footprints in the CBD to smaller satellite offices that tailor to locals working part time in offices. Retail has endured tough conditions through Covid, however, we are seeing a resurgence in this sector with consumer confidence returning. Medical, professional and food and beverage leases are still desirable among investors with yields holding strong driven by investors with self-managed super funds seeing them as secure long term. Some locations are coming back quicker than others but bricks and mortar retail is here to stay with main retail strips and shopping malls bustling once again. With all facets of commercial covered, including sales, leasing, asset management and commercial concierge, reach out to us today and find yourself in a better place.
Call Upstate Property Group on 9971 9000 or visit upstate.com.au
How Upstate performed in 2021
108
123
$26,000,000
Commercial sales
Commercial leased
Highest sale price Northern Beaches
544
615
118,000+
Residential sales
Residential leased
Prospective buyers on our database
Auction clearance rates MAY 2021 - MAY 2022 AVERAGE
84%
77%
74%
Auction clearance rate Upstate
Auction clearance rate Sydney
Auction clearance rate Northern Beaches
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Largest Commercial team on the Northern Beaches.
Sales and Leasing • Site Sales • Asset Management • Project Marketing “Terrific service over a 40-year period should demonstrate in spades what a great team this is at Upstate Commercial. On both the sales and management sides of the business, you will find a dedicated team of professionals who deliver the highest standards of customer service in the Northern Beaches.” Client Review - Nick Pappas
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