The latest research from Brisbane South Cityscope shows property sale numbers decreased over the past three months. The last three months to the end of August 2017 recorded 9 sales for a total of over $30.4 million; with $17.8 million for commercial, $1.7 million for commercial strata, $9.4 million for retail and $1.6 million for retail strata.
In comparison, the three months to the end of May 2017 recorded 12 sales for a total of over $39.4 million; with $13.3 million for commercial, $2 million for commercial strata, $3.1 million for retail, $1 million for retail strata and $20.2 million for other
The 12 months leading up to the end of August 2017 recorded 52 sales for a total of over $257.9 million, over $83 million lower than the recorded figure for the same time period the year before.
The table below shows sales recorded for the past eight updates of Brisbane South Cityscope.
The most significant sales recorded this quarter together totalled over $22 million.
- Interests associated with Aria Property Group have purchased 13 Manning Street,15 Manning Street and 17 Manning Street, South Brisbane together for $13 million. The site has approval for a 30-storey residential tower with 374 apartments, ground floor retail space and communal space including a swimming pool, spa, barbecue areas, yoga lawn, karaoke room and gymnasium. Seb Turnbull and Elliott O’Shea of JLL Brisbane negotiated the sale together with Brendan Hogan, Pat George and Sam Biggins of Colliers International Brisbane.
- 173 Boundary Street, West End, a two-storey retail and office building, was bought for $6.2 million by Honeysuckle Creek Pty Ltd. The sale represented an initial yield of 4.5% on a passing income of $279,000 (net). Hiep Nguyen negotiated of First National Commercial negotiated the sale.
- 123 Melbourne Street, South Brisbane was purchased for $3.2 million by Longfield Land Company Pty Ltd. The site houses a single-storey brick building with a partial first floor to the rear plus car parking for three vehicles to the rear. The sale was negotiated by Justin Mollard and Chris McDonald of JPM Commercial.
Properties listed for sale include:
- 1/161 Grey Street, South Brisbane – a 129 sqm retail unit on the ground floor of Mantra South Bank. Scheduled for auction on September 19, 2017; agent, Burgess Rawson Brisbane (Pat Kelly and Jamie Dewe) and Burgess Rawson Sydney (Darren Beehag).
- 20 Bank street, West End – a two-storey office/warehouse with roller door access to the rear warehouse. For sale with an asking price of $3.35 million; agent, C Property Qld (Carl Charalambous).
- 161 Boundary Street, West End – a two-storey retail and office building which has a building area of 390 sqm. For sale by offers to purchase; agent, Colliers International Brisbane (Tony Huan Wang and Philip O’Dwyer).
Currently under contract (conditional or unconditional):
- 15 Browning Str
?eet, South Brisbane – a two-storey boarding house with 26 rooms. Under contract; agent, L J Hooker Commercial (Peter McNeil and Manoli Nicolas).
- Merivale Flats, 105 Melbourne Street, South Brisbane - a three-storey residential building with a retail unit on the ground floor to Melbourne Street. Under contract unconditionally; agent, Property Inc (Leon Iconomidis and Michael Kazoullis).
- 117 Victoria Street, West End. A two-storey office building to the west and a high-clearance warehouse to the east. Under contract unconditionally; agent, Cushman & Wakefield Brisbane (Andrew Gard and Nick Spiro).
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