News & Research

Commercial Market Update - Eastern Melbourne Cityscope February 2021

The latest research from Eastern Melbourne Cityscope shows property sales have decreased in the past three months in total sale value and volume.

Sales recorded in the quarter ending January 2021 totalled $32 million from 13 sales, compared to the $51.8 million from 16 sales in the quarter ending October 2020 and the $128 million from 19 sales recorded in the three months ending July 2020.

This data brings the 12-month total to $652.7 million, an increase from the $635.2 million recorded over the same period of the previous year.

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

Eastern Melbourne Sales Grid

Notable sales in the January 2021 update of Eastern Melbourne Cityscope include:

  • Bowlers House at 21 Burwood Road, Hawthorn, a four-level office building with parking for a total of 54 cars on the lower ground floor and paved land to the rear with a net lettable area of 2,403 sqm, which was bought for $17.5 million;
  • 533 Blackburn Road, Mount Waverley, a 2-storey office building, with a paved parking area for 60 cars to the rear. Building area is 1,000 sqm and typical floor area is 500 sqm on a 4,500 sqm block, which was bought for $7.2 million and
  • Lot 5, 40 Montclair Avenue, Mount Waverley, a ground floor office suite in a 3-storey strata office building, area is 204 sqm plus a total of 7 car spaces, which was bought for $1.296 million.
Eastern Melbourne Sales Chart

Properties listed as for sale in the January 2021 update of Eastern Melbourne Cityscope include:

  • 431 Canterbury Road, Surrey Hills, a two-storey office building constructed in 2002 with parking for one car on paved land at the rear and 10 spaces in an underground car park to the rear of the building. Gross building area is 800 sqm with office area of 530 sqm, which is for sale through CVA Property Consultants;
  • 6/6 Garden Road, Clayton, lot 23 in Wellington Road Business Park, comprising two storeys, 16 car spaces with an area of 697 sqm, which is for sale through Crabtrees Real Estate and
  • 14 Church Street, Hawthorn, a 2-storey building modernised in 2003, total area 1,279 sqm comprising 725 sqm office space and 554 sqm of warehouse space plus space for 14 car parks, which is for sale through Teska Carson Richmond.

Leasing opportunities in the January 2021 update of Eastern Melbourne Cityscope include:

  • 545 Blackburn Road, Mount Waverley, a five-storey office building with a cafe on ground floor, 17 staff showers, bicycle racks, rooftop recreation area and basement parking for 83 cars plus parking on ground, mezzanine and first floor, which has office space ranging from 320 to 4,950 sqm for lease through Knight Frank and Colliers International – Melbourne East,
  • 16-18 Cato Street, Hawthorn East, a 4-storey office building including a basement parking for 175 cars with a building area of 5,133 sqm, which has office space ranging from 1,500 to 5,133 sqm for lease through JLL Metro Market and
  • 990 Whitehorse Road, Box Hill, a concrete and glass-paneled office building of nine levels, including three basement levels with 403 car spaces. Total building area 21,760 sqm comprising 20,155 sqm of office space, 1,080 sqm of storage area and 525 sqm of retail space. Completed in 1992 and extensively refurbished in late 2015, which has office space ranging from 200 to 3,400 sqm available for lease through Jll – Melbourne and Colliers International – Melbourne East.


CoreLogic Australia

CoreLogic Australia

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