The last three months to the end of August 2018 recorded 7 sales for a total of over $48.9 million; with $2.8 million for commercial, $1 million for commercial strata, $300,000 for retail strata and $44.8 million for other.

In comparison, the 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.

The 12 months leading up to the end of August 2018 recorded 42 sales for a total of over $219 million, over $39 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:

cityscope quarterly sales

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The most significant sales recorded this quarter together, all in West End, totalled just over $43 million.

The sale of 117 Victoria Street settled in June for $35 million to Crown West Pty Ltd; Crown West End Pty Ltd entered into a put and call option for the property in December 2016. Nick Spiro and Andrew Gard from Cushman and Wakefield negotiated the sale. The property includes a two-storey, 1,100 sqm office building and a high-clearance, 4,000 sqm warehouse.

A high-clearance, 1,382 sqm warehouse at 107 Jane Lane was sold for $4.25 million (td 16.05.2018) to Banti Pty Ltd. Carl Charalambous of C Property QLD negotiated the sale. The warehouse includes mezzanine level storage and office space.

A 967 sqm, high-clearance warehouse at 18-22 Hope Street had been sold to the State of Queensland (Represented by Department of Education) for $4.2 million (td 31.05.2018). The property will form part of the proposed West End State School extension.

CoreLogic Brisbane South Cityscope sales chart

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Properties listed for sale include:

  • 20 Bank Street, West End – a two-storey office/warehouse with roller door access to the rear warehouse. Building area, 800 sqm. For sale with an asking price of $3.35 million; agent, C Property Qld (Carl Charalambous).
  • 310 Montague Road, West End – a high-clearance warehouse with office/showroom space to the front over the ground and mezzanine levels. Net lettable area, 756 sqm. For sale by expressions of interest; agent, Cushman and Wakefield Brisbane (Andrew Gard and Joe Kennedy) and C Property Qld (Carl Charalambous).
  • 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.

 

Currently under contract (conditional or unconditional):

  • 113 Jane Street and 117 Jane Street, West End – a two-storey commercially-used house and shed and a 1,382 sqm high-clearance warehouse. Under contract unconditionally with settlement expected early 2019; agent, C Property Qld (Carl Charalambous).
  • 387 Montague Road, West End – a high-clearance, 1,343 sqm warehouse/showroom with office space to the front; agent, Cushman & Wakefield Brisbane (Andrew Gard and Joe Kennedy).
  • Unit 9 (lot 1), West Apartments, 10 Thomas Street, West End – a 225 sqm office plus two courtyards of 7 sqm and 63 sqm. Under conditional contract; agent, Elders Commercial Brisbane (Ben Hackett and Robert Koster).