News & Transactions
A brand new Quest Apartment building is being developed at 71 Epping Road, Macquarie Park. Goodman Group are developing the 111 room apartment block which will be leased to Quest for 21 years.
It has been sold for $34.5 million to Vikings Group.
CorVal have sold 78 Waterloo Road, Macquarie Park for $106 million. It is reported that the sale price reflects a yield circa 6.3%.
The building is 14,672 sqm and has a 5.5 star NABERS rating.
Altis Property Partners have purchased 6 & 7 Eden Park Drive Macquarie Park for $81.8 million. Investa sold the A-grade office space in Macquarie Park which had a building area of approximately 18,131sqm.
Australian Financial Review 23/03/15
North Ryde posted a vacancy decrease for the first time since July 2012.
Total Stock (sqm) – 866,480
Total Vacancy (sqm) – 86,291
Total Vacancy Factor (%) – 10.0
Withdrawals (sqm) – 481
Net Absorption 6 months (sqm) – 10,565
Source: Property Council of Australia Research Breakfast 5th February 2015
The Harris Technology building in North Ryde has been sold. The site is 4,016sqm and the building is 1,799sqm. The property sold for $4.95 million, it is on the corner of Epping and Wicks Road.
Australian Financial Review 16/09/14
The vacancy rate has increased to 11.2% according to the Property Council of Australia. Increase is due to increased supply. A grade vacancy increased from 8.1% to 9.2%, B grade vacancy from 12.1% to 16%.
Sydney Morning Hearld 09/08/14
In a competitive auction, the 7 Eleven store on Lane Cove Road, Macquarie Park has sold for $6.01 million, reflecting a yield of 4.96%.
Australian Financial Review 06/08/14
The DA is currently on exhitbition. It is a 12.5 hectare precinct at North Ryde Station which extends across to Wicks Road.
The North Ryde Station Urban Activation Precinct includes $50 million to be shared between 8 initial precincts for upgraded public spaces such as local parks and streetscapes. The rezoning is planned to enable 3000 new homes within a 10 minute walk to North Ryde Railway Station.
More information at: www.planning.nsw.gov.au/northryde
Balmoral Partners have helped several major firms relocate from the North Shore to Rydalmere in recent months. These deals include Renz, Masterbind, Federal Batteries, Electro Group and Addlon. These companies moved from the North Shore where the highest and best use for their sites are commercial and residential. Barry Johnston of Balmoral Partners said the rents are 20-30% cheaper and the outgoings are half the price at Rydalmere. Parking is also a factor as congestion around the North Shore makes warehousing less of a proposition. Asking rents for institutional grade office warehouse space in Rydalmere is $135psm + GST and the outgoings are circa $30psm + GST.
AMP Capital have sold 15 Talavera Road, Macquarie Park for $34 million. The 24 year old property will require refurbishment .
It has a net lettable area of 12,892sqm.
The Macquarie Park office building has a generous car parking allocation, however, it is approx 25% vacant.
Australian Financial Review 24/07/14
AMP's $440 million Macquarie Shopping Centre redevelopment is nearing completion.
AMP are adding 38,000sqm to Macquarie Shoppping Centre to make a total of 138,500sqm.
Total trade area of 337,770 people, expected to unleash $6 billion in retail spending by 2021.
AMP believe the redevelopment will turn Macquarie Centre into the largest suburban shopping centre in Sydney.
Australian Financial Review 17/07/14
Novartis are redeveloping their current site at 54 Waterloo Road, Macquarie Park. Budget cost is $50 million.
Their office building is approx 10,000sqm and is due for completion in September 2015.
Australian Financial Review 18/07/14
Goodman Group have just sold a site on Delhi Road, North Ryde.
With original plans for a commercial development, the site will now all be a residential development of 825 apartments.
The site was sold to a private developer for $73 million.
Sydney Morning Herald 09/11/2013
Stockland have sold 78 Waterloo Road for $72 million, reflecting a yeild of 7-8 per cent.
CorVal, a property fund manager lead by Ian O'Toole said the opportunity 'appealed because of its location near a railway station and shopping centre'.
The eight level asset was built in 2009. The major tenant is Schneider Electric and it has 14,672 sqm of floor space.
It achieved a 5.5 star NABERS rating.
Australian Financial Review 10/10/2013
Stockland and the Singapore listed.
AIMS AMP Capital Industrial REIT have become joint owners of the $375 million Optus Centre at Sydney's Macquarie Park.
Stockland will own 51 per cent.
This sale follows a recent sale of 78 Waterloo Road, Macquarie Park by Stockland for $72 million.
The Optus Centre is located on a 7.5 hectare site and features 6 low rise A grade office buildings.
Australian Financial Review 26/11/2013
BIS Shrapnel are predicting North Ryde will be a major office precinct over the next 10 years.
Once major CBD sites such as Barangaroo are completed, North Ryde is expected to acount for 13 per cent of the new office construction during the next 10 year period. This compares to Parramatta at 7 per cent.
Australian Financial Review 07/11/2013
Dexus have sold 40-50 Talavera Road, Macquarie Park for $28.2 million.
The recently refurbished office/warehouse building is very well located close to Macquarie Shopping Centre and Macquarie University.
Sydney Morning Herald 04/08/13
The owner of 277 Lane Cove Road, Macquarie Park has agreed to a RENT REDUCTION for the property.
Rental prices commence at $220 per sqm + GST.
Inspect Now to take advantage of this offer.
Further details available at www.macquarielink.com.au
Goodman have commenced construction of approximately 11,160 sqm at 'The Park' is North Ryde. It is located at 5 Talavera Road (corner Lane Cove Road), and forms part of a $75 million project.
The new office building will be the Japanese giants Australian head office and is scheduled for completion in April 2014.
Australian Financial Review 5/2/13
Gerry Harevy is planning a $150 million office and apartment project in the popular Northern Sydney precinct of Macquarie Park.
The head of Harvey Norman is planning 229 apartments as part of the development. It includes a 12 storey office tower above the existing Domayne store on Epping Road, a six storey commercial building and a tower with 10 storeys of hotel space and 17 storeys of apartments.
He plans to relocate his head office from flemington to North Ryde.
Australian Financial Review 16/4/13
Macqurie Park is located 12 kms north west of the Sydney CBD. It 'has evolved from markets, to a university, to a pseudo Silicon Valley and is now to become one of the next big CBD's with office towers, a bigger shopping centre and new apartments'.
Harry Triguboff's Meriton and Toga are developing apartments in the area.
The Macquarie Park corridor is a 340 hectare strip bounded by main roads, Macquarie University and parkland. A new railway station also serves the area.
The local Ryde City council expects up to 50,000 sqm of new floor space will be developed in the precinct every year over the next 2 decades.
In addition to this, a further 6000 apartments will be built during the same time.
The State Government has an interest in a 13.99 hectare parcel of land next to North Ryde railway. There are plans underway to rezone this site as a urban activation precinct.
Australian Financial Review 16/4/13
A Woolworths joint venture has paid $30 million for the former Peter Board High School on Epping Road & Waterloo Road, Macquarie Park.
They plan to develop Masters Home Improvement outlet.
The site was sold by Dexus Property Group and its wholesale fund and was acquired for almost $51 million in 2006.
Woolworths said Masters Home Improvement was planning a 13,500 sqm store for the Macquarie Park site. They will need a rezoning to enable them to trade as Masters Home Imrovement.
The Masters group said 'we're keen to make this significant investment in North Ryde...North Ryde has been highlighted as a centre for population and residential growth and retail investments like Masters will complete this'.
Australian Financial Review 2/5/13
The $390 million redevelopment of Macquarie Shopping Centre will make it the second biggest shopping centre in NSW.
Upon completion, it will have an area of 136,000 sqm of food, retail and leisure outlets.
130 new speciality stores will be aimed at appealing to a range of demographics.
Sydney Morning Herald 9/2/13
The latest Office Market Report produced by the Property Council of Australia was released last week to the industry.
It found that the vacancy rate for office space in North Ryde/Macquarie Park increased from 7.1% to 7.3% in the six months to January 2013.
The Sydney Morning Herald on 9thFebruary (Pg 40) quoted the Property Council NSW Executive Director, Mr Glenn Byrnes as saying the North Ryde/Macquarie Park office market “experienced positive demand in the last six months – with net absorption totalling 15,965 sqm … North Ryde also saw 19,538 sqm of new stock introduced to the market.”
This market shared a common trend with other nearby markets whereby many tenants are moving to better quality premises.
AMP have commenced a $390 million overhaul of Macquarie Shopping Centre. David Jones will open a new store and join Myer and a large range of specialty shops, eateries & entertainment options in the Centre.
Macquarie University, which is a short walk away is also expected to grown substantially. Forcasts are for the current 37,000 student to increase to 42,000 over the next two decades.
Macquarie Park employment is also expected to rise by 77% by 2031.
Australian Financial Review
30th October 2012
AMP Capital & Westfield have agreed on an asset swap to consolidate a portfolio of jointly owned shopping centres.
As a result, AMP Capital will be the sole owner of Macquarie Shopping Centre in Macquarie Park.
Australian Financial Review
Stamford Property Services have been successful in obtaining approval for the $350-400 million project to re-develop the Stanford Grand Hotel in Macquarie Park.
The development will consist of 7 apartment towers of 4-20 storeys, in a mixed use development know as Macquarie Park Village.
The approval signifies a further shift from a high tech industrial focus to a more mixed precinct. 576 apartments & 746 car spaces will be built on the site.
Australian Financial Review
Ecolab have signed a lease for 2 floors in the Aristocrat Building cnr Lane Cove Road and Epping Road, North Ryde - the deal is worth $1.2 million a year in rent.
Commercial office space leasing is gaining momentum in Macquarie Park.
The average vacancy rates in Macquarie Park have trended downwards from approx. 9.4% during 2007-2011. Some have predicted this to drop to an average of approx 8.9% over the next 4 years.
In the next four years approx. 56,755 sqm of office space could be developed provided there is sufficient tenant demand. Some of this development pipeline is ready to go now – the owners are however waiting on a pre-commitment.
Rents on new office space in Macquarie Park will set a new benchmark and are expected to be in the mid $300’s psm pa net + GST. Car parking will be additional.
Macquarie University’s 2012 acquisition of 75 Talavera Road, Macquarie Park gives the leasing market a significant.
In a very competitive leasing market it reduced vacancies and increased the University’s assets in Macquarie Park.
Macquarie University paid $40.5 million for the property which was partly leased and partly vacant.
Sydney Morning Hearld - June 2-3, 2012.
Tyrrell's wines have signed a deal to lease 306 m2 @ unit 13A/2 Edan Park Drive for a 5 year term
The property council of Australia recently released statisics on office vacancy rates around the country.
Across the 26 CBD + suburban office markets they report the vacancy rate fell to 7.9% at the end of January 2012, which is the lowest rate since 2009.
Mining had a positive impact to Perth and Brisbane markets.
Weak demand from Sydney’s financial sector has not had a positive influence on demand.
Little new stock has been build which has contributed to the reduction in vacancy rates.
North Ryde vacancy rates have fallen from 9.9% to 8.2% (Australian Financial Review 03/02/12)representing a reduction from previous years.
Australian Financial Review 03/02/12 Pg 43
"Stamford Land Corp is seeking to acquire a site in Sydney's North Ryde on which to develop a hotel as it moves to redevelop its existing property.
The group is progressing its plans to redevelop the 22,000 square metre site on which the 257-room Stamford Grand North Ryde is located.
It has plans to develop 10 towers of up to 21 storeys to accommodate about 625 apartments.
Chief operating officer Tay Lai Wat said "We're looking to buy land somewhere in North Ryde to build a hotel." He said the location was strategic, but it was "not so easy to Buy a piece of land in North Ryde".
The group's forthcoming development would benefit from the proximity of companies like Optus and would include both smaller units of one and two bedrooms and family-sized residences."
"Options for tenants looking for more than 1000sqm of contiguos space in higher-grade buildings were limeted. The city's best-performing metropolitan marked was Sydney Olympic Park, with a 0.7 per cont vacancy rate.
Rohodes remained strong with 2 per cent vacancies, while the CBD fringe 5.7 per cent. North Sydney had 9.2 per cent vacancy North Ryde/Macquarie Park 9.8 per cent.
Parramatta had a 9.3 per cent vacancy rate, with some of the tightest incentives of any metro market at 10 to 15 per cent for A and B grade assets."
"Chatswood remained Sydney's biggest underperformer, with 17 per cent vacancy, followed by Norwest with 15.3 per cent and St Leonards/Crows Nest with 12.5 per cent."
Canadian Solar leased 236 sqm @ Rydelink Business Park in North Ryde from Balmoral Partners
The Stanford Grand Hotel in North Ryde have lodged a concept plan with the NSW Department of Planning. The proposed report is to include 625 apartments in towers of varying heights, with ground floor retail and parking for close to 900 cars.
Onimica Financial Planning, FSG and Lifetime Financial Advisers have leased 155sqm at 394 Lane Cove Road, North Ryde from Balmoral Partners.
Gencom Technology has leased 410sqm at Unit 5, 277-283 Lane Cove Road, North Ryde. Leased by Balmoral Partners
Rexel Group has signed a lease at Unit 9, 277-283 Lane Cove Road, North Ryde. 467sqm @ $270 per sqm. Lease Term 5 years.
Macquarie Telecom has purchased two hectares in North Ryde for $10.8 million to build a new data centre.
Efiniti Communications has leased a 330sqm Office Suite at 68 Waterloo Road, North Ryde from AMP. Lease Term 3 years.