The latest research from Adelaide Cityscope shows that commercial property sales in Adelaide have increased in terms of sales value for the quarter ending April 2022. The latest quarter shows total sales value of $275.8 million from 34 sales, compared to the $145.8 million from 35 sales in the quarter ending January 2022 and the $285.8 million from 23 sales in the quarter ending October 2021.
The year to April 2022 shows total sales of $1.02 billion from 116 sales, a significant increase from the previous year, which had $581.3 million from 53 sales.
The table below shows sales recorded for the past eight updates of Adelaide Cityscope.
Notable sales in the April 2022 update of Adelaide Cityscope include:
- Chesser House at 91-97 Grenfell Street, an 11-storey office building which retains the front section of the original 2-storey Chesser House to Grenfell Street and also the front sections of several older 2-storey warehouses to Chesser Street. Lettable area is 11,121 sqm, comprising office space of 10,633 sqm and retail space of 740 sqm, which was bought for $81.35 million;
- Cordwainers Lane, a four-storey building with a roller door to Cordwainer Lane and 97-105 King William Street, a 9 and 10-level office building, with basement parking accessed via Hall Court with a net lettable area of 15,115 sqm and typical floor area of 1,340 sqm, which were bought together for $43 million and
- Iron Road House at 24-36 Currie Street, an 11-level office building with gross floor area of 12,000 sqm, net lettable area of 9,215 sqm and typical floor plates of 872 sqm, which was bought for $40 million.
Properties for sale in the April 2022 update of Adelaide Cityscope include:
- 264 North Terrace, a 2-storey stone building which includes basement. There is a rear brick extension and room for about 6 cars in a rear yard, which is for sale through Booth & Booth Real Estate;
- 147-151 Waymouth, a 3 level building with building area of 1,300 sqm situated on a 517 sqm block, which is for sale through LJ Hooker Commercial and
- 19 Eliza Street, a 150 sqm vacant block, currently used for car parking and 96-100 Franklin Street, a single-level office, showroom and workshop building with building area of 700 sqm on a 440 sqm, which are for sale individually or in one line through JLL Adelade.
Leasing opportunities in the April 2022 update of Adelaide Cityscope include:
- Iron Road House at 24-36 Currie Street, an 11-level office building, completed 1992 with a gross floor area of 12,000 sqm, net lettable area of 9,210 sqm and typical floor plates of 872 sqm, which has office space ranging from 325 to 4,500 sqm available for lease through Knight Frank;
- Commonwealth Bank Building at 100 King William Street, 18 levels plus basement parking for 5 cars. There is a banking chamber on the ground floor. Net lettable area is 18,555 sqm and typical floor plates is 1,000 sqm, which has office space ranging from 468 to 5,000 available sqm for lease through CBRE Adelaide and Colliers International and
- 17A-17B Rundle Mall, a 3-storey brick building, with a shop on the ground floor, which has retail space of 220 sqm on ground and mezzanine level available for lease through Peregrine Property.