The latest research from Brisbane South Cityscope shows property sale figures have decreased in the past three months but sales figures have increased. The last three months to the end of August 2020 recorded 5 sales for a total of over $12.7 million; with $4.3 million for commercial, $600,000 for commercial strata and $6.8 million for other.
In comparison, the three months to the end of May 2020 recorded 7 sales for a total of over $9.7 million; with $1.6 million for commercial, $2.9 million for commercial strata, $200,000 for retail strata and $5 million for other.
The 12 months leading up to the end of August 2020 recorded 24 sales for a total of over $160.7 million, over $35.9 million higher 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 $11.76 million
In South Brisbane, 15 Brereton Street, 17 Brereton Street and 19 Brereton Street were transferred for $6.76 million to related company, Pellicano Living Pty Ltd. The three properties currently house two, two-level commercial buildings and a high-clearance warehouse. An application has been lodged with the Brisbane City Council for a 28-storey residential building with ground floor retail space and 299 apartments above. Approval was still pending in early August.
Aria Property Group has purchased 31 Merivale Street for $4 million. Aria is currently seeking approval for a three-stage development over this property, 66 Hope Street and 29 Merivale Street. Stage 1, 66 Hope Street, would comprise a 30-storey residential building with 194 units (142 two-bedroom and 52 three-bedroom) and 272 car parks. Stage 2, 31 Merivale Street, would include a new four-storey commercial building with two retail tenancies on the ground floor; three levels of office space above; and a 300 sqm communal rooftop area of which 100 sqm will be landscaped. Stage 3, 29 Merivale Street, would comprise minor works to the existing building, including new windows and openings at the southern elevation in order to open the existing tenancies out to the new driveway. The existing tenants will remain and the gross floor area of 400 sqm will not change. Architect, Koichi Takada Architects. Developer, ARIA Property Group.
Unit 9, Montague Central, 170 Montague Road, South Brisbane was bought $1.005 million by Medical Device Technologies Pty Ltd. The sale was negotiated by Michael Manis and Matt Maranta of Ray White Industrial Milton. Unit 9 comprises a two-level commercial/industrial unit with 212 sqm on the ground floor and 107 sqm on the first floor. Total unit area 319 sqm.
Some current properties listed for sale include:
- 33 Vulture Street, West End – a 2,908 sqm, three-level plus mezzanine retail/office building with 41 on site car parks. For sale by expressions of interest, closing 10 September 2020; agent, JLL Brisbane (Sam Byrne and Tim Jones).
- Lot 1, South Central Commercial, 43 Peel Street – 2,856 sqm comprised of ground floor retail space and commercial space over three levels above. For sale by expressions of interest, closing September 10, 2020; agent, Knight Frank Brisbane (Matt Barker and Blake Goddard). The property was advertised as 94.9% occupied with a net income of $1,203,500 per annum.
- 310 Montague Road, West End – a 783 sqm, two-level, office/warehouse/showroom with six onsite car parks. For sale and for lease; agent, Elders Commercial Brisbane (Ben Hackett).