The latest research from Brisbane Fringe Cityscope shows in the last three months property sale numbers and figures have increased. The last three months to the beginning of August 2021 recorded 35 sales for a total of $99.8 million, with $51.2 million for commercial, $4.2 million for commercial strata, $7.3 million for retail, $3.2 million for retail strata and $32.8 million for other.
In comparison, the last three months to the beginning of May 2021 recorded 18 sales for a total of $55.8 million, with $30.7 million for commercial, $2.4 million for commercial strata, $1.8 million for retail, $1.6 million for retail strata and $19.3 million for other.
The 12 months leading up to early August 2021 recorded 92 sales for a total of $371.9 million, only $10.5 million less than the same time last year.
The table below shows sales recorded for the past eight updates of Brisbane Fringe Cityscope:
Significant sales recorded this quarter total just over $ million, these sales include:
49 Park Road, formerly known as Humanity Place, has been sold for $22.45 million to Barwon Property Funds Management Pty Ltd as trustee for Milton Investment Trust. The building was originally built in 1980, but was recently refurbished. Hunter Higgins, Nick Wedge and Guy Wells of Colliers International negotiated the sale in conjunction with Christian Sandstrom and Blake Goddard from Knight Frank. The three-storey building comprises 2,638 sqm of office space and 57 car parks.
Mantra Richmond Hotel, a five-storey hotel on Kennigo Street, has been purchased by JD Kennigo Services Pty Ltd as trustee for JD Kennigo Land Trust for $15.81 million. The 4-star hotel was opened in May 2016 and includes a ground floor café.
A large warehouse at 74 Robertson Street, Fortitude Valley has been sold for $6.75 million to K C Dry Cleaning Nominees Pty Ltd as trustee for The Fortitude Valley Discretionary Trust. The property last traded in 1993 for $600,000.
Properties for sale include:
- Amelia Hotel, a two-storey hotel in Fortitude Valley with a ground floor cafe. For sale with an asking price of $3.85 million; agent, Resort Brokers Australia (Nathan Eades).
- 107 Quay Street, a 1,106 sqm office, three-storey office building with car parking for 20 vehicles. For sale with offers around $5 million being considered; agent, C Property Qld (Carl Charalambous, Sam Callanan and Joe Kennedy).
- Brisbane Manor Hotel, a three-tiered building with around 40 rooms of accommodation. For sale with an asking price of $7 million; agent, Matrix Global Group (Vivienne Dong and Flora M).
Properties under contract (conditional or unconditional) include:
- 72 Costin Street, Fortitude Valley – a single-storey plus mezzanine, brick office building with car parking for 15 vehicles. Net lettable area, 507 sqm. Under contract unconditionally with a long, one-year settlement period expected; agent, Colliers International Brisbane (Hunter Higgins and Nick Wedge). The property was advertised with a potential leaseback agreement from 9-months to three-years.
- Unit 1, 29 Amelia Street, Fortitude Valley – the entire, 414 sqm first floor and associated car parking on the ground floor. Under contract; C Property (Sam Callanan & Joe Kennedy).
- Unit 2, 29 Amelia Street, Fortitude Valley – the entire, 414 sqm second floor and associated car parking on the ground floor. Under contract; C Property (Sam Callanan & Joe Kennedy).