News & Research

Commercial Market Update - Brisbane South Cityscope March 2021

The latest research from Brisbane South Cityscope shows property sale figures have increased in the past three months and sales numbers have slightly increased. The last three months to the end of February 2021 recorded 7 sales for a total of over $19.6 million; with $7.2 million for commercial, $1.3 million for commercial strata, $1 million for retail strata and $10.1 million for other.

In comparison, the three months to the end of November 2020 recorded 4 sales for a total of over $6.8 million; with $3.4 million for commercial, $2 million for commercial strata and $1.5 million for retail.

The 12 months leading up to the end of February 2021 recorded 24 sales for a total of over $54.3 million, over $137.1 million lower than the recorded figure for the same time period the year before.

The table below shows sales recorded for the past eight updates of Brisbane South Cityscope:

The most significant sales recorded this quarter together totalled just over $17.65 million

Three older commercial buildings at 37 Cordelia Street, 42 Manning Street and 44 Manning Street, with a total site area of 1,829 sqm, have been purchased together for $9.45 million by Centurion Investment Management Pty Ltd. The sale was negotiated by Nick Spiro and Andrew Gard of Cushman & Wakefield Brisbane.

Two adjoining commercial buildings at 37 Boundary Street and 39 Boundary Street in South Brisbane have been purchased for $7.2 million over two separate transactions by 37 Boundary Pty Ltd. The two buildings, a three-storey building with basement car parking and a two-level office building above lower ground floor car parking, were both developed by Bill Ludbey and last traded for $2 million and $1.955 million respectively. The sale was negotiated by Jason Dao, Nick Wedge and Brandon Hogan of Colliers International.

Unit 11, West End Central, 220 Melbourne Street, South Brisbane was bought for $1 million by Heng Sen Management Pty Ltd. The 142 sqm ground floor unit last sold for $870,000 in 2004.

Some current properties listed for sale include:

  • 106 Boundary Street, West End – A 339 sqm, two-storey office building with car parking for four vehicles. Scheduled for auction on March 4, 2021; agent, Knight Frank Brisbane (Christian Sandstrom).
  • 2 Cordelia Street, South Brisbane – a 1,731 sqm, high-clearance warehouse with two levels of office space to the western end and lower ground car parking. For sale by expressions of interest; agent, Cushman & Wakefield Brisbane (Michael Gard and Andrew Gard).
  • 161 Boundary Street, West End – a two-storey, 390 sqm office/retail building. For sale with an asking price of $3 million; agent, Ray White Commercial Brisbane (Sam Parker).

Properties currently under contract (conditional or unconditional) include:

  • Unit 3, Montague Chase 5, 237 Montague Road, West End – a 251 sqm warehouse/showroom unit with mezzanine level. Under conditional contract; agent, Elders Commercial Brisbane (Robert Koster and Ben Hackett).


CoreLogic Australia

CoreLogic Australia

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