News & Research

Commercial Market Update - Perth Cityscope June 2021

The latest research from Perth Cityscope shows property sale numbers and figures have decreased. The last three months to the beginning of June 2021 recorded 20 sales for a total of over $85.4 million; with $76.8 million for commercial, $3.8 million for commercial strata, $1.2 million for retail, $2.1 million for retail strata and $1.4 million for other.

In comparison, the three months to the beginning of March 2021 recorded 30 sales for a total of over $112.6 million; with $84.2 million for commercial, $12.6 million for commercial strata, $5.9 million for retail, $8 million for retail strata and $1.9 million for other.

The 12 months leading up to the end of June 2021 recorded 82 sales for a total of over $240.9 million, over $228.2 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 Perth Cityscope:

The most significant sales recorded this quarter together totalled over $74.8 million.

Stamford Green, comprising a 14-storey office building and three, two-storey heritage buildings, has been sold for $67.8 million to Redhill Partners Investments Pty Ltd. The sale of the property, formerly known as Dynons Plaza, was negotiated by John Williams of JLL Perth.

28 Kings Park Road in West Perth was bought for $5 million by Mandeland Pty Ltd, through Nick Charlton and Tony Delich of Knight Frank Perth. The 1,331 sqm office building comprises three levels of office space above ground floor car parking for 38 vehicles. It last traded in 1994 for $1.912 million.

Also in West Perth, 1187 Hay Street has been purchased for $2.075 million by 1187Hay Pty Ltd. The 301 sqm, two-storey office building includes car parking on site for 7 vehicles and last traded for $470,000 in 1991. The latest sale was negotiated by Sean Flynn and Nigel Freshwater of JLL Perth.

Some current properties listed for sale include:

  • 16 Emerald Terrace, West Perth – a 212 sqm, single-storey house converted to commercial use. The property includes car parking for 8 vehicles. For sale with an asking price of $2.45 million; agent, Charter Property (Clyde Badger).
  • 20 CoLin Street, West Perth – a 267 sqm, single-storey office building with on site car parking for 10 vehicles. For sale by offers to purchase, closing June 25, 2021; agent, Acton – Dalkeith (Scott Ellwood).
  • 853 Wellington Street, West Perth – a 661 sqm, two-storey showroom and office building. For sale with offers around $1,700,000 being considered; agent, Knight Frank Perth (James Baker and Tony Delich).

Properties under contract (conditionally or unconditionally) include:

  • 38 Richardson Street, West Perth – a four-storey, 1,207 sqm office building with ground floor car parking for 33 vehicles. Under contract; agent, Colliers International (Tory Packer and Wayne Lawrence). The property was advertised with a net income of $395,095 pa.
  • 1183 Hay Street and 1187 Hay Street, West Perth – two, two-storey office buildings with a combined net lettable area of 711 sqm. Under contract with settlement expected June 2021; agent, JLL Perth (Sean Flynn and Nigel Freshwater).
  • 800 Hay Street, Perth – a single-storey, 468 qm retail arcade. Under offer; agent, Lease Equity Perth (Jim Tsagalis).


CoreLogic Australia

CoreLogic Australia

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