The latest research from Adelaide Cityscope shows that commercial property sales have decreased for the quarter to July 2016. The latest quarter shows total sales figures of $43.1 million from 27 sales, a decrease compared to the $197.9 million from 18 sales recorded in the quarter to April 2016 and a large decrease compared to the $486.8 million from 21 sales in the quarter to January 2016.
The year to July 2016 shows total sales of $796.4 million from 90 sales, a decrease from the previous year, which had $875.7 million from 84 sales.
The table below shows sales recorded for the past eight updates of Adelaide Cityscope.
Notable sales in the July 2016 update of Adelaide Cityscope include:
- 228-230 North Terrace, Adelaide, a five-storey office building with a net lettable area of 2,689 sqm and Elizabeth House, 232 North Terrace, Adelaide, seven storeys with two rooftop apartments, which sold together for $12 million;
- 30 Angas Street, Adelaide, part of neighbouring St Aloysius College, a three-storey building with classrooms and educational facilities on a site of 2,469 sqm, which sold for $12 million; and
- 62-68 Currie Street, Adelaide, a single and two-level building with a net lettable area of 572 sqm, which sold for $5.5 million through Knight Frank.
Properties for sale in the July 2016 update of Adelaide Cityscope include:
- Allianz House, 89 Pirie Street, Adelaide, a nine-storey building, set back behind the restored three-storey Victorian facade of the site’s former building and with a net lettable area of 7,123 sqm, available through Knight Frank; and
- 98-100 Gouger Street, Adelaide, a single-storey retail building in the Chinatown precinct of Adelaide, through JLL Adelaide.
Leasing opportunities in the July 2016 update of Adelaide Cityscope include:
- HP Centre, 108 North Terrace, Adelaide, an 11-level office building including basement parking for 130 cars and with a net lettable area of 20,112 sqm, which has office space of up to 5,686 sqm available through CBRE Adelaide, Knight Frank and Dexus Property Group;
- 70 Light Square, Adelaide, a six-level office building, including a 31-space basement car park with a net lettable area of 3,496 sqm, which has office space of up to 2,743 sqm available through JLL Adelaide and CBRE Adelaide; and
- 19 Grenfell Street, Adelaide, an office building of 19 levels including basement parking and a net lettable area of 12,500 sqm, which has office space of up to 6,641 sqm available through Colliers International, CBRE Adelaide and Knight Frank.