The last three months to the end of February 2019 recorded 10 sales for a total of over $55.7 million; with $45.5 million for commercial, $900,000 for commercial strata, $2.4 million for retail strata and $7 million for other.
In comparison, the three months to the end of November 2018 recorded 12 sales for a total of over $26.1 million; with $2.1 million for commercial, $6.2 million for commercial strata, $2.8 million for retail strata and $15.1 million for other.
The 12 months leading up to the end of February 2019 recorded 42 sales for a total of over $153.9 million, over $62.9 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 just over $43.8 million.
- In early 2019 a three-storey commercial building at 55 Russell Street, South Brisbane was purchased for around $23.65 million by Forza Russell Street Fund, an unlisted single-asset property fund managed by property investment group Forza Capital. The property includes 4,081 sqm of office space and basement car parking for 55 vehicles.
- A two-storey office and warehouse building at 62 Merivale Street, South Brisbane has been sold for $17 million (td 17.12.2018) to Advanced Bars Pty Ltd as trustee for the Merrivale Properties Unit Trust. The property includes 790 sqm of office space over two levels, 790 sqm of warehouse space to the rear and ample parking. Michael Gard and Andrew Gard from Cushman & Wakefield Brisbane negotiated the sale.
- 259 Montague Road, West End has been sold for $3.2 million to Manning Street Properties Pty Ltd. The 728 sqm building includes some office space to the corner of Jane Street and Montague Road. Joe Kennedy and Andrew Gard of Cushman & Wakefield
Properties listed for sale include:
- 161 Boundary Street, West End
A two-storey, 390 sqm retail and office building. For sale by offers to purchase; agent, Colliers International Brisbane (Philip O’Dwyer and Tony Wang).
- Unit 40, 11 Manning Street, South Brisbane
A 74 sqm ground floor commercial unit plus a 16 sqm patio. For sale with an asking price of $499,000; agent, First National Commercial (Anthony Conias).
- Unit 8, 220 Melbourne Street, South Brisbane
An 81 sqm ground floor retail unit fronting Melbourne Street. For sale with an asking price of $1.1 million; agent, C Property Qld (Nick Zervos).
Currently under contract (conditional or unconditional):
- 188 Montague Road, West End
A two-storey, 280 sqm brick and weatherboard house, used commercially. Under contract unconditionally for $1,500,000 with settlement expected March 2019; agent, Cushman & Wakefield Brisbane (Joe Kennedy and Andrew Gard).