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 November 2021 recorded 30 sales for a total of $129.6 million, with $34.4 million for commercial, $20.3 million for commercial strata, $9.7 million for retail, $40.5 million for retail strata and $24.8 million for other.
In comparison, 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.
The 12 months leading up to early November 2021 recorded 92 sales for a total of $402.9 million, just $22.9 million less than the same time last year.
The table below shows sales recorded for the past eight updates of Brisbane Fringe Cityscope:
A strata-titled retail and commercial centre at 421 Brunswick Street in Fortitude Valley, has been purchased for $32.3 million by BHB Properties Pty Ltd, a company wholly owned and directed by Brian Backshall of Kangaroo Point. The sale of the 32-lot centre, which forms part of the Central Brunswick development, was negotiated by Cushman & Wakefield Brisbane. The property last sold in 2016 for $30 million to a subsidiary of the Accord Property Group.Significant sales recorded this quarter total just over $73.8 million, these sales include:
A company owned by developer, Kevin Seymour, has sold 210 Brunswick Street, Fortitude Valley for $22 million to Frasers Property Fortitude Valley Pty Ltd as trustee for Frasers Property Fortitude Valley Trust. The property comprises a three-storey building to Alfred Street and two, two-storey buildings to Brunswick Street; it last sold for $14 million in 2015.
The former Australian Federal Police Building on Wharf Street was bought for $19.5 million by Ederton Investments Pty Ltd as trustee for The Kennedy Descendants Trust and M & V Kennedy SMSF Brisbane Property Pty Ltd as trustee for M & V Kennedy SMSF Brisbane Property Trust. The sale of the four-storey, 4,695 sqm office building was negotiated by Hunter Higgins and Brendan Hogan of Colliers International Brisbane. The property last sold in 2016 for $21.28 million.
Properties for sale include:
- The two-storey Spring Hill Hotel and adjoining building at 18-20 Little Edward Street. For sale by expressions of interest, closing November 10, 2021; agents, Knight Frank Brisbane (Christian Sandstrom & Blake Goddard) and Cushman & Wakefield Brisbane (Andrew & Michael Gard).
- Unit 7, unit 8 and unit 9, The Astor, 35 Astor Terrace, Spring Hill. Three strata titled units on level 2, comprising 455 sqm, 255 sqm and 334 sqm respectively. For sale by expressions of interest closing November 10, 2021; agent, Colliers International Brisbane (Nick Wedge and Tony Wang). These units were advertised with a net income of $467,677 pa.
- 200 Wickham Street, Fortitude Valley. A three-level, 250 sqm building with a lower ground floor to the rear. For sale by expressions of interest; agent, Chase Commercial (Jordan Gentile).
Properties under contract (conditional or unconditional) include:
- 107 Quay Street, a 1,106 sqm office, three-storey office building with car parking for 20 vehicles. Under contract; agent, C Property Qld (Carl Charalambous, Sam Callanan and Joe Kennedy).
- The Osbourne Hotel, a two-storey hotel which underwent an extensive refurbishment in 2017. Under contract; agent, JLL Hotels & Hospitality Group (John Musca and Tom Gleeson).
- Unit 28, Cathedral Village, 115 Wickham Street, Fortitude Valley. A 189 sqm commercial unit on level 1 to Gipps Street. Under conditional contract; agent, First National Commercial (George Koukides).