The latest research from Brisbane South Cityscope shows that sales figures have fallen from a two-year high to a two-year low. Property sale numbers and figures both significantly decreased over the past three months. The last three months to the end of February 2018 recorded 2 sales for a total of over $9.5 million; with $8 million for retail and $2.5 million for other.
In comparison, the three months to the end of November 2017 recorded 20 sales for a total of over $137.4 million; with $97.4 million for commercial, $3.3 million for commercial strata, $21.7 million for retail, $2.7 million for retail strata and $12.3 million for other.
The 12 months leading up to the end of February 2018 recorded 43 sales for a total of over $216.8 million, over $106 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, all in South Brisbane, recorded this quarter together totalled over $102 million.
- The Boundary Hotel at 137 Boundary Street, West End was sold for $8 million to The Oz Pub Group Pty Ltd as trustee for The Macleod Boundary Trust., Thomas Gleeson from JLL Hotels & Hospitality Group (Sydney) negotiated the sale. The Boundary Hotel is a two-storey hotel with a bottle shop and bistro.
- 11 Kurilpa Street, West End sold for $1.5 million to Kurilpa St Property Pty Ltd. Robert Koster and Ben Hackett of Elders Commercial Brisbane negotiated the sale. The property includes a 478 sqm high-clearance warehouse with office space to the front over the ground and mezzanine levels plus car parking for four vehicles.
Properties listed for sale include:
- 13 Cordelia Street, 15 Cordelia Street and 17 Cordelia Street are for sale, as a development site, by expressions of interest, closing March 28, 2018; agent, Cushman & Wakefield Brisbane (Andrew Gard and Michael Gard).
- 107 Jane Street, 113 Jane Street and 117 Jane Street are for sale, as a development site, by negotiation; agent, L J Hooker Commercial Brisbane North (Wes Woodroffe, Brett Greenstill and Andrew Clough).
- 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).
Currently under contract (conditional or unconditional):
- Unit 6, Montague Chase 6, 15-19 Musgrave Street, West End – a 249 sqm unit with ground floor and mezzanine level space. Under conditional contract; agent, Ray White Industrial Milton (Aron Burtenshaw).
- 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