The latest research from Brisbane South Cityscope shows property sale figures have dropped in the past three months. The last three months to the end of November 2019 recorded 5 sales for a total of over $8.3 million; with $1.5 million for commercial, $600,000 for commercial strata, $1.8 million for retail strata and $4.4 million for other.
In comparison, the three months to the end of August 2019 recorded 6 sales for a total of over $50.7 million; with $2 million for commercial, $44.7 million for commercial strata and $4.1 million for retail strata.
The 12 months leading up to the end of November 2019 recorded 22 sales for a total of over $116 million, over $27 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 $6.66 million.
A two-storey office and warehouse building at 20 Bank Street, West End has been sold for $3.35 million to Bellevue Estates Pty Ltd and MJZ Holdings Pty Ltd. The property has around 800 sqm of space and includes roller door access to the rear warehouse and car parking for 12 vehicles. Carl Charalambous of C Property Qld negotiated the sale. The property was last sold for $2.7 million in 2014.
The long-term leasehold ownership of Unit 4, 15 Tribune Street, South Brisbane has been bought for $1.8 million by Red Bag Pty Ltd; it was last purchased for $1.672 million in 2005. The 318 sqm unit has been divided into two ground floor tenancies which are occupied by SO+GI - Specialised Obstetric & Gynaecological Imaging and Siam Thai Restaurant.
A two-storey weatherboard building at 368 Montague Road, West End has been sold for $1.51 million to Tommy Laskaris and Athanasios Papoulias. The property includes covered car parking to the rear and is occupied by Jade Chinese Medicine and Next Level Health.
Some current properties listed for sale include:
- Unit 104, Fish Lane Apartments, 125 Melbourne Street, South Brisbane - comprises a 94 sqm retail unit on the ground floor to the corner of Melbourne and Cordelia Streets. The unit includes a 50 sqm deck area. Total area, 144 sqm. Scheduled for auction on 5 December 2019; agent, RE/MAX City – Brisbane (Geoff Esdale).
- 19 Ferry Road, West End - a single-storey, 350 sqm, brick warehouse with an 850 sqm hardstand area with car parking for around 15 vehicles. The warehouse includes roller door access, shower facilities and male/female amenities. For sale by offers to purchase; agent, Colliers International Brisbane (Nick Wedge and Philip O’Dwyer).
- 91 Montague Road, South Brisbane – a large, high-clearance warehouse with an office/showroom component. For sale by expressions of interest; agent, JLL Brisbane (Elliott O’Shea, Tim Jones and Seb Turnbull). The property has not been offered to the market in over 27 years.
- 70 Merivale Street, South Brisbane – a two-storey, brick, 675 sqm office building with car parking for four vehicles to the street. For sale by expressions of interest; agent, JLL Brisbane (Tim Jones and Elliott O’Shea). The property has not been offered to the market in over 30 years.
Properties under contract (conditionally or unconditionally) include:
- Unit 7 (G7), The Precinct, 12 Browning Street, West End – a 304 sqm office on the ground floor to Russell Street. Under conditional contract; agent, Colliers International Brisbane (Nick Wedge and Philip O’Dwyer). The unit was advertised with a net income of $140,800 per annum.