The latest research from St Kilda Road Cityscope shows property sales’ value has increased in the past three months.
For the three months to July 2021, there were 205 sales at a total value of $204 million, an increase compared to the 141 sales at a total value of $124.5 million in the previous quarter to April 2021 and the 100 sales at a total value of $88.7 million in the quarter to January 2021.
This data brings the 12-month total to $717 million from 783 sales, a decrease from the $973.8 million from 830 sales recorded over the previous year.
The table below shows sales recorded for the past eight updates of St Kilda Road Cityscope.
Outstanding sales in July 2021 update of St Kilda Road Cityscope include:
- 545 St Kilda Road, Melbourne, a 3-storey block of flats on a site of 2,864 s qm, built in the 1930s, vacated and fenced for the proposed development of Victorian Melanoma & Clinical Trials Centre, which was bought in separate transactions for a combined total of approximately $31 million through Colliers International Melbourne;
- Landene Units at 8 Louise Street, Melbourne, a 3-storey brick block of 20 one and two-bedroom flats and three garages on a site of 1,222 sqm, refurbished in 1999 with a new third level and rooftop terraces added, which was bought in separate transactions for a total price of $21 million through Stonebridge Property Group – Melbourne.
Properties listed for sale in the July 2021 update of St Kilda Road Cityscope include:
- A total of 84 car spaces in Royal Domain Plaza Apartments at 360 St Kilda Road was offered for sale as part of a 1,153 car spaces portfolio operated by Care Park through CBRE. The portfolio also includes properties in Melbourne, South Yarra, Abbotsford (covered by Cityscope) and other areas (not covered by Cityscope), and is being offered for purchase individually, in any combination or in one line;
- Unit 721, unit 723 and unit 725) at St Kilda Road Towers at 1 Queens Road, Melbourne, 3 office suites with a total area of 105 sqm on level 7, which are for sale through MCO and
- Unit 308 at 434 St Kilda Road, Melbourne, a 48 sqm office suite on level 3 in the 7-storey office building with basement and ground floor parking for 75 cars, constructed in 1971 and refurbished in 1994, which is for sale through Xynergy Commercial – Melbourne.
Significant leasing opportunities listed in the July 2021 update of St Kilda Road Cityscope include:
- 541 St Kilda Road, Melbourne, a seven-storey building with a 126-space basement car park, completed 1986, comprising office space in the six upper levels and retail on ground level. The ground floor was refurbished in 2000, entry foyer was refurbished in 2003 and a major renovation was completed in 2007. The property has a net lettable area of 8,229 sqm and typical floor plate of 1,300 sqm, which has office space range from 650 sqm to 8,200 sqm for lease through Cushman & Wakefield – Melbourne and Thorburn Commercial Property – Melbourne;
- 616 St Kilda Road, Melbourne, an 11-storye office building with lower ground floor parking plus a 3-storey car parking station at the rear of the site and outdoor car parking to Queens Lane, for a total of 229 spaces, completed in 1980 and refurbished in 1997. The exterior of the building was refurbished and a new level added to the Carpark in 2002. The 13,408 sqm building has typical floor plate of 1,254 sqm, which has office space of 543 sqm and 195 sqm on level 1, 1,247 sqm on level 4, 627 sqm on level 6, 245 sqm and 345 sqm on level 8 for lease through Cushman & Wakefield – Melbourne and Knight Frank – Melbourne and
- 5 Queens Road, Melbourne, an 11-storey hexagonal glass and granite office building with basement parking for 323 cars, completed in 1989 and partially refurbished in 2000 and 2016, with a net lettable area of 17,720 sqm, which has office space range from 175 sqm to 800 sqm for lease through Colliers International – Melbourne.