The latest research from Adelaide Cityscope shows that commercial property sales in Adelaide have decreased in total value for the quarter to October 2019. The latest quarter shows total sales figures of $242.4 million from 10 sales, compared to the $442.6 million from 31 sales in the quarter to July 2019, and $111.1 million from 15 sales in the quarter to April 2019.
The year to October 2019 shows total sales of $922 million from 77 sales, a slight decrease from the previous year, which had $928.6 million from 54 sales.
The table below shows sales recorded for the past eight updates of Adelaide Cityscope.
Notable sales in the October 2019 update of Adelaide Cityscope include:
- Grenfell Centre at 25 Grenfell Street
A 26-level office building comprising a retail plaza level, ground, basement and 23 office floors. Net lettable area is 24,969 sqm with typical floor plate of 1,044 sqm, which sold for $134.22 million;
- 100 Waymouth
An A-grade office building of 13 storeys, completed in late 1989 and refurbished in 2013. Net lettable area is 12,305 sqm with typical floor area of 1,000 sqm, which sold for $85 million and
- SAPOL at 172-180 Grenfell Street
The Australian Federal Police SA headquarters, a 3-storey building completed in 1989 with a net lettable area of 2,526 sqm, which sold for $13 million.
Properties for sale in the October 2019 update of Adelaide Cityscope include:
- Talbot Hotel at 102-104 Gouger Street
An older two-level brick building on a 806 sqm block and 98-100 Gouger Street, a single-storey retail building on a 361 sqm block, which are for sale together through Prorealty;
- 162-164 Wakefield Street
A 737 sqm vacant block currently used for parking with about 20 spaces, which is for sale through Leedwell Property and
- Unit 17 at 238 Grenfell Street
A strata title 2-storey retail building, which is for sale through Mastracorp Real Estate.
Leasing opportunities in the October 2019 update of Adelaide Cityscope include:
- Iron Road House at 24-36 Currie Street
An 11-level office building completed 1992, which has office space ranging from 300 to 4,500 sqm and retail space of 224 sqm available through Knight Frank Adelaide;
- Telstra House, 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 office space ranging from 447 to 1,1500 sqm available through CBRE Adelaide and JLL Adelaide and
- Elder House at 25-39 Currie Street
4 levels to Currie Street with a 6-level office building to the rear, which has office space of 2,000 on level 2 available through CBRE Adelaide.