The last three months to the end of May 2018 recorded 13 sales for a total of over $23.2 million; with $5.1 million for commercial, $700,000 for commercial strata, $7 million for retail, $100,000 for retail strata and $10.3 million for other.
In comparison, the three months to the end of February 2018 recorded two sales for a total of over $9.5 million; with $8 million for retail and $1.5 million for other.
The 12 months leading up to the end of May 2018 recorded 44 sales for a total of over $200.5 million, over $117 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 nearly $12 million.
190 Melbourne Street, South Brisbane – a two-storey Queenslander-style building fronting Melbourne Street with a single-storey extension to the rear. The property, which is used commercially, was purchased for $3.5 million (cd 21.12.2017, td 12.03.2018) by a company owned by Tim Forrester, the founder and managing director of development company, ARIA Property Group.
381 Montague Road, West End – a vacant, high-clearance, showroom/warehouse building has been sold for $3.5 million (cd 01.09.2017, td 29.03.2018) to local investor, Bruce Elliott. Joe Kennedy and Andrew Gard of Cushman & Wakefield Brisbane negotiated the sale.
Companies associated with James Varitimos have purchased three West End properties at 190-192 Montague Road, 194 Montague Road and 5 Mollison Street for a total of $4.95 million (cd 15.12.2017, td 15.12.2017). Associated companies also purchased two adjoining properties, 196-200 Montague Road and 204 Montague Road, together for $9 million in early 2017. Combined the five properties have a total site area of 4,177 sqm and house workshop and warehouse buildings, plus car parking to Mollison Street.
Properties listed for sale in the May 2018 of Brisbane South Cityscope include:
- Unit 9 (lot 1), 10 Thomas Street, West End– a 295 sqm commercial unit comprising 225 sqm of office space, a 63 sqm courtyard at the rear of the building, on the eastern side, and a 7 sqm courtyard on the southern side. For sale by expressions of interest, closing June 6, 2018; agent, Elders Commercial Brisbane (Ben Hackett and Robert Koster). The unit was advertised with a net income of $61,472.20 per annum.
- Lot 900, 30-50 Duncan Street, West End – three retail/commercial tenancies (53 sqm, 144 sqm and 35 sqm) on the ground floor of View (Tower A). Total area, 232 sqm. For sale by private treaty; agent, JLL Brisbane (Sam Byrne and Andrew Havig). The lot was advertised with a passing annual income of $146,900.
- 10 Kurilpa Street, West End - a high-clearance warehouse with four roller doors and 335 sqm of mezzanine level office space to Bailey Street. For sale by expressions of interest, closing May 31, 2018; agents, JLL Brisbane (Blake Goddard and Elliott O’Shea) and Cushman & Wakefield Brisbane (Andrew Gard and Nick Spiro).
Currently under contract (conditional or unconditional):
- 107 Jane Street, West End – a high-clearance warehouse with mezzanine level. Building area, 1,382 sqm. Under contract for $4,250,000; agent, C Property Qld (Carl Charalambous).
- Lot 403, Spice Apartments, 25 Bouquet Street, South Brisbane - a 159 sqm retail unit on the ground floor of the Southern tower, fronting Montague Road. The unit also includes a 15 sqm car park. Total unit area, 174 sqm. Under contract; agent, Elders Commercial (Robert Koster and Ben Hackett).
- 117 Victoria Street, West End - a two-storey office building to the west and a high-clearance warehouse to the east. Crown West End Pty Ltd entered in to a put and call option for the property in December 2016; agent, Cushman & Wakefield Brisbane (Nick Spiro and Andrew Gard).
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