Premium paid by owner occupiers versus investors for Sydney CBD strata office suites

05/12/17

Yet again we are seeing a premium being paid by owner occupiers versus investors for quality Sydney CBD strata office suites.

Two examples that illustrate this point:

1. The sale of Level 1, 16 O'Connell Street, Sydney: An Art Deco commercial building with 266 sqm selling for $3,050,000 - $ 11,466 psm to a solicitor who will take occupation upon settlement. 

2. The sale of a 102 sqm suite at 88 Pitt Street: A modern office building, sold on a vacant possession basis sold by a competitor achieved $ 1,250,000 - $ 12,250 psm.

In addition, last Tuesday 28/11/2017, a 462 sqm floor within 70 Pitt Street having a net rent of $277,514 sold on a yield of 6.4 % at a price of $ 4,350,000.- $ 9,415.60 psm.

The above certainly mirrors our enquiry, with strong demand for suites between 100 - 300 sqm for owner occupiers within the core of the CBD.

If you're thinking about selling your strata property, please get in touch with us here.

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