News & Research

Commercial Market Update - Melbourne Units Cityscope May 2021

Sales recorded for Melbourne Units Cityscope for the three months to May 2021 totalled $500.9 million from 758 sales, a decrease compared to the $517.5 million from 718 sales recorded to February 2021, but a slight increase from the $495.3 million from 648 sales recorded for the quarter to November 2020. This quarter’s data includes the new strata buildings of Stage 1 of Queens Place development at 350 Queen Street.

The latest data brings the twelve-month sales total close to $1.647 billion, an increase from the previous twelve months, which recorded sales of more than $1.356 billion.

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

Some notable sales featured in the May 2021 update of Melbourne Units Cityscope include:

  • Unit 3810 in Collins Arch at 433-455 Collins Street, a south and west facing residential apartment with a balcony and terrace plus two car space and storage areas, all on basement level 5, located on level 38 in the West Tower, a mixed-use development with a twin-tower, comprising 49,000 sqm of office space, 202 apartments and a 5-star hotel with 294 rooms known as the W Hotel, which was bought off the plan for $5.955 million;
  • Unit 17/2 known as 172/99 Spring Street, 16th floor, known as the 17th floor, north side at Treasury Gate, a building with five floors of offices plus seven shops at street level; and an additional 20 storeys of apartments plus three levels of basement parking, which was bought for $2.8 million and
  • Unit 1401 at 386-390 Spencer Street, a 3-bedroom residential apartment unit with 4 balconies on level 14 including a 4-car parking space on basement level 4 at Bond Quarter, a twenty storey building comprising of 105 apartments over 15 levels, ground level retail space and 4 levels of basement parking with the facade of the former building retained, completed early 2018, which was bought for $2.165 million.


CoreLogic Australia

CoreLogic Australia

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