The latest research from Adelaide Cityscope shows that commercial property sales in Adelaide have increased significantly in terms of sales value for the quarter ending October 2020. The latest quarter shows total sales value of $309.6 million from 11 sales, compared to the $13.1 million from 8 sales in the quarter ending July 2020 and the $150.9 million from 22 sales in the quarter ending April 2020.
The year to October 2020 shows total sales of $839.6 million from 67 sales, a decrease from the previous year, which had $922 million from 77 sales.
The table below shows sales recorded for the past eight updates of Adelaide Cityscope.
Notable sales in the October 2020 update of Adelaide Cityscope include:
- 50 Flinders Street, a 15-level office building including two levels of basement car parking for 78 cars, two cafe/restaurant tenancies and childcare facilities on ground level, with a net lettable area of 21,750 sqm, completed in late 2015; which was bought for $174.65 million on an initial yield of 6.5%;
- National Bank House at 22 King William Street, a 14-level building including basement, ground floor banking chamber and mezzanine; built in 1970 and refurbished in 1987 and 2010, with a net lettable area of 9,604 sqm, which was bought for more than $47 million on an initial yield of 7.8% in a deal handled by Knight Frank and
- Nova Entertainment Building at 75 Hindmarsh Square, a 6-storey office building plus three levels of basement parking for 74 cars, with a net lettable area of 4,662 sqm, which was bought for $40.5 million through CBRE Adelaide.
Properties for sale in the October 2020 update of Adelaide Cityscope include:
- 106-106A Hindley Street, part of the former West's Coffee Palace, a 2 and 3-storey retail building with basement and rear access, net lettable area about 360 sqm, which is for sale through Belle Property Commercial Adelaide;
- 264-272 Angas Street, four single-storey brick buildings with parking for three cars, with a total building area about 750 sqm on a site of 893 sqm, which is for sale through JLL and
- 266-268 Rundle Street, a 2-storey restaurant building of 614 sqm on a block of 365 sqm land, which is for sale through Bell Property Commercial Adelaide.
Leasing opportunities in the October 2020 update of Adelaide Cityscope include:
- Keith Murdoch House at 31-45 Waymouth Street, a 5-storey office building comprising ground level retail, basement car parking, and a service entrance to Bentham Street, completed in late 2005, which has office space of 2,432 sqm on level 2 available through CBRE Adelaide and Colliers International;
- Anna Building at 153 Flinders Street, a 4-storey office building with a net lettable area of 4,296 sqm, built in 1950 and refurbished in 1972 and 2005, which has office space ranging from 144 to 2,340 sqm available through Colliers International and
- 262-300 Wakefield Street, the former Calvary Wakefield Hospital, comprising a main hospital building, 3 and 4 storeys plus basement parking and a rear paved parking area, and a number of connected 1 and
- 2- storey buildings, redeveloped in 2004, which has refurbished hospital of total 180-beds and gross lettable area of 15,852 sqm, available through CBRE Adelaide and JLL Adelaide