The latest research from Adelaide Cityscope shows that commercial property sales in Adelaide have significantly decreased for the quarter ending July 2020. The latest quarter shows total sales value of $15.5 million from 9 sales, compared to the $150.9 million from 22 sales in the quarter ending April 2020.
The year to July 2020 shows total sales of $774.8 million from 67 sales, a decrease from the previous year, which had $942.1 million from 79 sales.
The table below shows sales recorded for the past eight updates of Adelaide Cityscope.
Notable sales in the July 2020 update of Adelaide Cityscope include:
- A 50% interest in 25 - 27 Roper Street, a paved private car park with 33 car spaces, including undercover parking for 8 cars; the former Wheelwright Arms Hotel at 29 Roper Street, an old 2-storey stone and brick building and a small single-storey extension on the south side; and 82 - 100 Wakefield Street, a two and three-storey stone and brick building with a basement car park for 70 vehicles, built 1850 and expanded in 1880 and 1912 and converted for office use in 1984 with a building area of 3,800 sqm, which were bought for $6.5 million;
- 31 - 35 Worsnop Avenue, a single-storey concrete block workshop building with roller door access to Worsnop Avenue and Dawkins Place on an 890 sqm block, which was bought for $2.395 million and
- Part interest in 251 - 259 Pirie Street, containing a paved parking area with space for about 55 cars and a single storey workshop to Worsnop Avenue, which was bought for $2.395 million.
Properties for sale in the July 2020 update of Adelaide Cityscope include:
- 12 - 16 Moger Lane, a 261 sqm vacant paved land, currently used for parking, which is for sale as a development site through Colliers International;
- 29 - 33 Hutt Street, a one and two-storey office building with parking space for 16 vehicles, 9 of which are under croft. Building area is 481 sqm on a 649 sqm block, which is for sale through JLL Adelaide and
- 276 - 278 Rundle Street, a 2-storey retail building with a newer single -storey rear extension, with a building area of 292 sqm on a 231 sqm block, which is for sale through McGees Property.
Leasing opportunities in the July 2020 update of Adelaide Cityscope include:
- Iron Road House at 24-36 Currie Street, an 11-level office building completed 1992 with a gross floor area of 12,000 sqm and typical floor plates of 872 sqm which has office space ranging from 320 to 4,500 sqm available for lease through Knight Frank;
- City Cross Shopping Centre at 33-39 Rundle Mall, an arcade over several integrated buildings comprising ground floor retail tenancies. To Rundle Mall, four buildings of 4 and 2 storeys, three shops with street frontage and basement retail. To Grenfell Street, single storey buildings with one street shop. To Gawler Place, a building with a 5-storey facade and two street shops. To James Place, vacant land. There are also 28 undercover car spaces, which has retail space ranging from 1 to 700 sqm available for lease through Makris Group of companies and
- Commonwealth Bank Building at 100 King William Street, 18 levels plus basement parking for 5 cars with a banking chamber on the ground floor. Net lettable area of 18,646 sqm and typical floor plates of 1,000 sqm, which has office space ranging from 408 to 3,630 sqm available for lease through CBRE Adelaide.