The latest research from Adelaide Cityscope shows that commercial property sales in Adelaide have decreased for the quarter ending April 2020. The latest quarter shows total sales value of $150.9 million from 22 sales, compared to the $366.1 million from 26 sales in the quarter ending January 2020.
The year to April 2020 shows total sales of $1.202 billion from 89 sales, a significant increase from the previous year, which had $781.2 million from 65 sales.
The table below shows sales recorded for the past eight updates of Adelaide Cityscope.
Notable sales in the April 2020 update of Adelaide Cityscope include:
- The Regent at 101 Rundle Mall, comprising several building of 2 to 4 storeys, 38 shops in the arcade, refurbished in 1991 and 1992 with a new external canopy added to the northern end of the arcade in 2008, on a site of 4,400 sqm, which was bought for $48.5 million in a deal handled by Commercial Adelaide;
- A 50% leasehold interest in the Citi Centre Building at 141-159 Rundle Mall, an office building of 10 levels plus ground floor retail and a basement with 100 car spaces and a 2-storey building with a loading dock at street level plus entry to the basement parking level, with a total net lettable area of 16,736 sqm, which was bought for $40.625 million; and
- A 50% interest in the former Adelaide Bank building at 169 Pirie Street, an office building of 6 levels plus basement parking with a building area of 7,920 sqm on a site of 2,867 sqm, which was bought for $25.125 million.
Properties for sale in the April 2020 update of Adelaide Cityscope include:
- Nova Entertainment Building at 75 Hindmarsh Square, a 6-storey office building plus three basement parking levels for 74 cars, with a net lettable area of 4,662 sqm, which is for sale through CBRE;
- 25 Eliza Street, a 4-storey apartment building with six residential units, originally built circa 1880, extensively redeveloped and extended from 3 to 4 storeys in 2009, which is for sale as a whole through McGees Property; and
- 154-160 Angas Street, a two-storey building with a showroom on ground floor and offices above with two sheds, a parking area and carport for about 20 cars to the rear; and 20 Gunson Street, a single-storey office building with a roller door to the street, which are for sale together through JLL Adelaide.
Leasing opportunities in the April 2020 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 café on the first floor, which has retail space of 424 sqm on ground level and office space of 843 sqm on level one and 917 sqm on level 8 for lease through Colliers International and Knight Frank;
- Telstra House at 30 Pirie Street, a 25-storey building comprising 24 levels of office space, retail space on the ground floor and a theatrette, cafeteria and function room on the mezzanine level, which has whole office level 5 of 1,017 sqm available through Colliers International and office space of 471 sqm on level 22 and 476 sqm on level 23 available through CBRE Adelaide and JLL Adelaide; and
- 299 Pirie Street, formerly the Red Cross Blood Centre, comprising two linked buildings, 3 storeys to Pirie Street and 2 storeys to the rear, with a building area of 3,760 sqm and car parking for 36 cars, which has office and lap space from 100 sqm to 2,130 sqm across levels 1 to 6 available for short-term lease through Upstream Property Solutions and CBRE Adelaide.