The latest research from Brisbane South Cityscope shows property sale numbers and figures have significantly decreased in the past three months. The last three months to the end of May 2019 recorded 2 sales for a total of over $2.4 million; with $2 million for commercial, $900,000 for commercial strata and $1.5 million for retail.
In comparison, the 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.
The 12 months leading up to the end of May 2019 recorded 31 sales for a total of over $133.1 million, over $67.4 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 $2.42 million.
A commercially used, two-storey, brick and weatherboard house at 188 Montague Road, West End has been sold for $1.5 million to Moullinator Pty Ltd. The building is occupied by Marie’s Café and includes function space on the upper level. Joe Kennedy and Andrew Gard of Cushman & Wakefield Brisbane negotiated the sale.
The ground floor retail unit at Brisbane Casino Towers was sold by the developer for $920,000 (cd 18.02.2019, td 10.04.2019) to Unipro Property Pty Ltd. Herman Hunt and William Jones of Blue Commercial negotiated the sale which represented an initial yield of 6.50% on a passing income of $59,793 (net). Brisbane Casino Towers is a 30-storey building with 378 apartments and one ground floor retail tenancy; the development was completed in early 2018.
Properties listed for sale include:
- Lot 900 (volumetric), 28-50 Duncan Street, West End
Three retail/commercial tenancies of 35 sqm, 53 sqm and 144 sqm. For sale with an asking price of $1.95 million; agent, JLL Brisbane (Sam Bryne and Andrew Havig). The lot was advertised with a passing income of $138,194 per annum.
- 164 Grey Street, South Brisbane
A four-storey commercial building with 3,142 sqm of space. For sale by expressions of interest, closing June 6, 2019; agent, JLL Brisbane (Seb Turnbull and Luke Billiau). The property was advertised with a fully leased passing income of $2,525,784 per annum net.
- 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).