The latest research from Adelaide Cityscope shows that commercial property sales in Adelaide have increased significantly for the quarter ending July 2019. The latest quarter shows total sales figures of $442 million from 30 sales, compared to the $111.1 million from 15 sales in the quarter to April 2019, and $125.9 million from 21 sales in the quarter to January 2019.
The year to July 2019 shows total sales of $941.5 million from 78 sales, an increase from the previous year, which had $850.5 million from 62 sales.
The table below shows sales recorded for the past eight updates of Adelaide Cityscope.
Notable sales in the July 2019 update of Adelaide Cityscope include:
- Allianz Centre at 55 Currie Street
A 9 and 12-level office building with a large foyer, a full height atrium and a cafe on the first floor, completed 1988. The building has two sections with separate banks of lifts and an underground car park with 96 spaces, providing a net lettable area of 25,726 sqm, which was bought for $148.3 million, in a deal handled by JLL Adelaide and Colliers International;
- The SGIC/CGU Building and a car parking station at 80 Flinders Street
An eight-storey building with ground level retail space, with a net lettable area of 12,514 sqm, which sold for $127 million through CBRE Adelaide and Knight Frank; and
- Ernst & Young Building at 121 King William Street
An A-grade 12-storey office tower with two levels of basement car parking for 55 cars, retail on the ground floor and offices on the upper levels, with a net lettable area of 12,557 sqm including 612 sqm of retail space, which sold for $82.25 million.
Properties for sale in the July 2019 update of Adelaide Cityscope include:
- 100 Waymouth Street, formerly known as Henry Waymouth Centre
An A-grade office building of 13 storeys, with a net lettable area of 12,305 sqm, which is for sale through Knight Frank;
- Lot 6
A commercial unit of 525 sqm on the whole of level three in the building at 108 King William Street, an office building of 13 storeys, shops on the ground floor and offices above, is for sale through Savills; and
- Unit 2 in the building at 239-241 Pirie Street
An 86 sqm office suite on ground floor of a two-storey building, which is for sale through LJ Hooker Commercial.
Leasing opportunities in the July 2019 update of Adelaide Cityscope include:
- 55 Grenfell Street
A 13-storey office building with a net lettable area of 9,830 sqm, which has office space ranging from 500 sqm to 4,000 sqm available for lease through CBRE Adelaide;
- Hender Consulting House at 81-99 Flinders Street
An office building of 12 levels plus basement for 42 car spaces, which has office space ranging from 300 sqm to 1,600 sqm available through LJ Hooker Commercial Adelaide; and
- 58-60 Gawler Place
A building of four storeys plus basement with a building area of 2,078 sqm, which has office/retail space ranging from 180 sqm to 1,789 sqm available through CBRE Adelaide.