The latest research from Adelaide Cityscope shows that commercial property sales in Adelaide have increased substantially in total value for the quarter to October 2017. The latest quarter shows total sales figures of $183.4 million from 20 sales, compared to $35.1 million from 19 sales in the quarter to July 2017, and $123.5 million from 15 sales in the quarter to April 2017.
The year to October 2017 shows total sales of $586.1 million from 71 sales, a significant decrease from the previous year, which had $949.9 million from 79 sales.
The table below shows sales recorded for the past eight updates of Adelaide Cityscope.
Notable sales in the October 2017 update of Adelaide Cityscope include:
- Ernst & Young Building at 121 King William Street, a 12-storey office tower with two levels of basement car parking, retail on the ground floor and offices on the upper levels. Net lettable area 12,409 sqm including 578 sqm of retail space, which sold for $58.4 million;
- The long term leasehold of Citi Centre Building at 141-159 Rundle Mall, a 10-storey office building plus ground floor retail (Citi Centre Arcade) and a basement with 100 car spaces, total net lettable area 16,376 sqm, which sold for $42 million; and
- Stillwell House at 99 Gawler Place, a 16-storey office building including basement with net lettable area 11,200 sqm, which sold for $34.6 million.
Properties for sale in the October 2017 update of Adelaide Cityscope include:
- ANZ House at 11 Waymouth Street, a 21-storey office building with a ground level retail plaza and basement parking for 162 cars. Building area 31,004 sqm with floor plates between 1,400 sqm and 1,700 sqm, available through Colliers International, JLL Adelaide and JLL Sydney;
- The former SA Water House at 77 Grenfell Street, a 20-storey building including basement car parking with net lettable area 16,484 sqm. There are two large showrooms to Grenfell Street and other retail areas to the rear, available through CBRE Adelaide and Colliers International; and
- Adelaide Police Station at 60 Wakefield Street, a five and six levels office building plus basement car parking for 35 cars and Forensic Science Centre at 21-27 Divett Place, a nine-level office building on a site of 1,280 sqm, available through Savills and Inc Re.
Leasing opportunities in the October 2017 update of Adelaide Cityscope include:
- Allianz Centre at 55 Currie Street, a nine-and-12-level office building with a large foyer, a full height atrium and a cafe on the first floor and an underground car park for 96 cars, which has office space of 425 to 1,360 sqm available through Colliers International and Knight Frank;
- 1KW, also known as, 1 King William Street, a 19-level office building, recently renovated in 2016, with lettable area of 20,776 sqm and typical floor area of 1,080 sqm, which has office space of 150 to 8,000 sqm available through Knight Frank and Savills; and
- 50 Flinders Street, a 15-level office building including two levels of basement car parking for 78 cars, two cafe/restaurant tenancies and a childcare facilities on ground level, with a net lettable area of 21,450 sqm, which has office space of 1,775 sqm available through JLL Adelaide.