Market Wrap: all the leasing and sales activities in and around Sydney

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LEASING

Surry Hills

Mac City Australia Pty Ltd has leased a 124 sq m office at 238A Riley Street from Macole Pty Ltd for $362 per sq m. The lease term is two years. Tom Schultz, LJ Hooker Commercial South Sydney Inner West negotiated the lease.

Rosebery

TMO Sports Pty Ltd has leased a 186 sq m Office at 5.09/77 Dunning Avenue from Tino Vella for $365 per sq m. The lease term is three years. Tom Schultz, LJ Hooker Commercial South Sydney Inner West negotiated the lease.

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Private company ATOC has purchased a 1216 sq m office/warehouse at 13 Binney Road, Kings Park for $3.1 million.

Alexandria

Alcolizer Pty Ltd has leased a 216 sq m warehouse at 15/538 Gardeners Road from J & A Rodriguez for $340 per sq m. The lease term is three years. Marcus Schraag & Michael Binskin from LJ Hooker Commercial South Sydney Inner West negotiated the lease.

SALES

Manly

A BP-branded service station anchored by Jasbe Petroleum at 133-139 Pittwater Road has sold to a private investor for $7.2 million. The store is leased to Victorian-based fuel and convenience company Jasbe Petroleum and is under a new 12-year lease agreement. JLL’s Dylan McEvoy, Gordon McFadyen and Peter Seeto brokered the deal at a sale rate of 4.1 per cent on behalf of Jasbe Petroleum.

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The BP at 133-139 Pittwater Road, Manly has sold for $7.2 million.

Kings Park

Private company ATOC has purchased a 1216sqm office/warehouse at 13 Binney Road for $3.1 million. Owned by Xavier Advertising, the property is leased until October 31, 2020. Zoned as flexible IN2 – light industrial, it offers a well-lit modern office space and a concrete forecourt that allows for easy container loading and unloading. CBRE’s Matthew Alessi and Brendan Wein negotiated the deal.

Parramatta

Private group Simonek Pty Ltd has sold a three storey office building, formerly Cumberland House, at 38-40 George Street, with four covered parking spaces for $15 million to a private buyer. It sits on land of 362 sq m with a net lettable area of 770 sq m. There is frontage of 12 metres to George Street, 30 metres to a side laneway and 12 metres to a council car park and has zoning B3 commercial core. Jon Race and Anthony Khoury of Khoury & Partners negotiated the sale.

MOVERS

Sumner Capital

Private investment group Sumner Capital has been boosted with the arrival of Matt Whitby as a principal of the company. He will partner with the long-term owner and principal Kirby Parsonage. Sumner Capital, which was established after the Global Financial Crisis in 2008, is a privately owned Investment & Asset Management platform which manages more than $250 million of Australian real estate for local and offshore investors. Prior to joining, Mr Whitby was at Elanor Investments and held the role of head of research at Knight Frank.

The Agency

Sean O’Connor, along with his team Jake O’Connor, Jennifer McCormack and Tony Johnson, have joined The Agency in key regional market of Wollongong.

Email submissions to ccummins@smh.com.au