The latest research from Adelaide Cityscope shows that commercial property sales in Adelaide have decreased in total value for the quarter to January 2019. The latest quarter shows total sales figures of $123.8 million from 20 sales, compared to the $262.4 million from 12 sales in the quarter to October 2018, and $281.7 million from 17 sales in the quarter to July 2018.
The year to January 2019 shows total sales of $796.4 million from 65 sales, a decrease from the previous year, which had $1.248 billion from 63 sales.
The table below shows sales recorded for the past eight updates of Adelaide Cityscope.
Notable sales in the January 2019 update of Adelaide Cityscope include:
- The former SA Water House at 77 Grenfell Street, an office building of 20 levels including basement car parking and ground floor showrooms and retail shops; has a net lettable area of 16,484 sqm, which was sold for $103.5 million;
- Edmund Wright House at 57-63 King William Street, a 3 level building, completed for the Bank of South Australia in 1878. It was extensively renovated and restored in 1972, 1995 and 2001 and facade was restored in July 2015, which was sold for $5.8 million; and
- German Club at 221-225 Flinders Street, a three-storey including lower ground building with a building area of 943 sqm, which was sold for $3.5 million.
Properties for sale in the January 2019 update of Adelaide Cityscope include:
- 176-180 Pulteney Street, a two-storey brick building with a building area of 2,319 sqm and a rear yard for 14 cars, which is for sale through Commercial Adelaide;
- 108-114 Franklin Street, two single-level connected buildings to Franklin Street and two 2-level warehouse buildings to Cannon Street with parking area for about 30 cars and storage space on the ground floor, which is for sale through Colliers International; and
- 274 North Terrace, a 470 sqm block of land currently used for parking with a small single-storey office at the south end, which is for sale through CBRE Adelaide.
Leasing opportunities in the January 2019 update of Adelaide Cityscope include:
- Hender Consulting House at 81-99 Flinders Street, an office building of 12 levels plus basement for 42 cars with shops on the ground floor, which has office space ranging from 300 to 1,600 sqm available through LJ Hooker Commercial Adelaide;
- 58-60 Gawler Place, a 4-storeys plus basement building with an area of 2,078 sqm, which has office and retail space ranging from 200 to 2,011 sqm available through CBRE Adelaide; and
- Hayward House at 86 Pirie Street, a 4-storey building with shops on the ground floor and offices above, which has retail space ranging from 73 to 188 sqm on ground level available through CBRE Adelaide.