News & Research

Commercial Market Update - Adelaide Cityscope February 2021

The latest research from Adelaide Cityscope shows that commercial property sales in Adelaide have decreased significantly in terms of sales value for the quarter ending January 2021. The latest quarter shows total sales value of $81.4 million from 18 sales, compared to the $309.6 million from 11 sales in the quarter ending October 2020 but an increase from the $13.1 million from 8 sales in the quarter ending July 2020.

The year to January 2021 shows total sales of $554.9 million from 59 sales, a decrease from the previous year, which had $1.162 billion from 82 sales.

The table below shows sales recorded for the past eight updates of Adelaide Cityscope.

Adelaide Sales Grid

Notable sales in the January 2021 update of Adelaide Cityscope include:

  • 60 Wakefield Street, a 6,900 sqm office building of 5 and 6 levels plus basement car parking and Forensic Science Centre at 21-27 Divett Place, a 9,600 sqm 9-level office building with eight parking spaces to the front of the ground floor, which were bought together for $51 million on an initial yield of 6.44% through Savills;
  • 68 King William Street, a 5-storey building, originally a branch of the Commercial Banking Co of Sydney with retail space on the ground floor on a block of 300 sqm, which was bought for $10,749,900 and
  • 32-40 Grote Street, an older two-storey building with retail areas on the ground floor plus another older two-storey building with shops on the ground floor and to the rear a brick single-storey building and a parking lot for 11 cars, which was bought for $5.95 million through Mastracorp Real Estate.
Adelaide Sales Chart

Properties for sale in the January 2021 update of Adelaide Cityscope include:

  • 233 Rundle Street, a 2-storey retail building with a building area of 227 sqm and a site are of 127 sqm, which is for sale through JLL - Adelaide;
  • 64 Grote Street, a 353 sqm 2-storey retail building including an office on upper level with a site area of 176 sqm, which is for sale with an asking price of $3 million through Belle Property Commercial and
  • Lot 1004 at 147 Pirie Street a 200 sqm commercial space on level ten of Aurora on Pirie, a 15-level commercial building with retail on the ground level, plus two car spaces and a storage unit on the upper basement level, which was offered for sale at $1.1 million through McGees Property.

Leasing opportunities in the January 2021 update of Adelaide Cityscope include:

  • 55 Grenfell Street, an office building of 13 levels including basement, ground and mezzanine. The building which was upgraded in late 2020, has office space of 500 - 4,000 sqm available through CBRE Adelaide;
  • The Producers Hotel at 233-239 Grenfell Street, a 1 and 2-storey building with a rear yard, a function room and 40 poker machines, available for lease through Polites Property and
  • The whole building at the former SA Water House, 77 Grenfell Street, an office building of 20 levels including basement car parking and net lettable area of 16,484 sqm, available through Colliers International.


CoreLogic Australia

CoreLogic Australia

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