The latest research from Brisbane Fringe Cityscope shows property sale numbers have remained the same in the past three months, although sales figures have slightly decreased. The last three months to the beginning of February 2018 recorded 34 sales for a total of $304.5 million, with $239.6 million for commercial, $9.2 million for commercial strata, $14 million for retail, $3.2 million for retail strata and $38.5 million for other. 

In comparison, the last three months to the beginning of November 2017 recorded 34 sales for a total of $345.7 million, with $301 million for commercial, $11 million for commercial strata, $1.5 million for retail strata and $32.2 million for other. 
    
The 12 months leading up to early February 2018 recorded 114 sales for a total of $993.4 million than $256.1 million more than the same time last year.

The table below shows sales recorded for the past eight updates of Brisbane Fringe Cityscope.

Brisbane Fringe Cityscope Quarterly Sales


Together the top sales recorded this quarter total over $212 million, these sales include:

  • A six-storey office building at 108 Wickham Street, Fortitude Valley has been purchased $106.23 million by Ascendas Business Park Trust No 1. Flint Davidson, Bruce Baker and Tom Phipps of CBRE Brisbane negotiated the sale which represented an initial yield of 6.50% on passing income of over $6.9 million.
  • The 11,913 sqm office building last sold in 2015 for $79 million to interests associated with Centennial Property Group.
  • Following an expressions of interest campaign which closed in August 2017 the Chinatown Car Park in Fortitude Valley was sold for $64 million to Tribune Properties Pty Ltd. The complex includes a five-level car parking station, shops to Duncan Street and a three-storey office block. Seb Turbull and Luke Billiau of JLL Brisbane negotiated the sale with Tom Phipps and Peter Court of CBRE Brisbane. The sale represented an initial yield of 6.58% on a passing income of just over $4.2 million (net). 
  • 433 Boundary Street, a three-storey office building with two levels of basement car parking, was purchased for $42 million by the Cromwell Direct Property Fund. Don MacKenzie and Jason Lynch of Colliers International Brisbane negotiated the sale which represented an initial yield of 6.70% on passing income of just over $2.8 million.

 

Brisbane Fringe Cityscope Sales Graph

Properties for sale include:

  • 19 Lang Parade, Milton – a seven-storey office building fronting Lang Parade and a two-storey office building to the rear, known as Terrace Suites. For sale by expressions of interest, closing March 8, 2018; agent, CBRE Brisbane (Peter Court and Mike Walsh). The property was advertised with passing net income of $7,116,579 pa.
  • 257 Brunswick Street, Fortitude Valley – a two-storey, 357 sqm office building with basement. For sale by expressions of interest, closing March 1, 2018; agents, Knight Frank Brisbane (Christian Sandstrom and Matt Barker) and Evahan Property Services / Developments (Mark Evans).
  • 52 Amelia Street, Fortitude Valley – a two-storey, 360 sqm office/warehouse building. For sale by offers to purchase; agent, Richardson & Wrench (Steve Black and Andrew Kelly).


Properties under contract (conditional or unconditional) include:

  • 540-586 Wickham Street, Fortitude Valley – The Audi & Euromarque Centre, a car dealership varying in heights. Under conditional contract; agents, CBRE Brisbane (Peter Court, Mike Walsh and Tom O’Driscoll) and Cushman & Wakefield Brisbane (Nick Spiro and Glen Wright).
  • 70 Robertson Street, Fortitude Valley – a single-storey warehouse with a two-storey office section. Sold prior to auction. Under contract unconditionally; agent, Chase Commercial (Joshua Peake and Rod Brown). The property was advertised with an income of around $25,000 per annum (net).
  • The Gantry, 15 Anderson Street, Fortitude Valley – three, two-storey offices with a total net lettable area of 2,881 sqm. Under conditional contract; agent, Knight Frank Brisbane (Justin Bond and Matt Barker).

Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe