The latest research from Brisbane South Cityscope shows property sale figures have significantly decreased in the past three months. The last three months to the end of May 2020 recorded 7 sales for a total of over $9.8 million; with $1.6 million for commercial, $2.9 million for commercial strata, $200,000 for retail strata and $5 million for other.
In comparison, the three months to the end of February 2020 recorded 7 sales for a total of over $130 million; with $6 million for commercial strata, $600,000 for retail strata and $123.4 million for other.
The 12 months leading up to the end of May 2020 recorded 25 sales for a total of over $198.8 million, over $72.1 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 $6.76 million.
Lifeplace Limited, who operates Lifeplace Church, have sold their premise at 18-20 Bailey Street, West End for just over $2.69 million to TJG Holdings (Qld) Pty Ltd. The premise comprises 1,217 sqm over three levels and includes offices, toilets, bathrooms and a 200-seat auditorium. It was refurbished for around $1m in 2015. The sale was negotiated by Michael Feltoe of Ray White Commercial Brisbane and Adam Nobel of Hugo Alexander Property Group.
A two-level, 802 sqm unit was transferred for $2.47 million to related company, Stenning Seaforth Pty Ltd. The unit, Unit 2, 375 Montague Road, West End, comprises 542 sqm on the ground floor and 260 sqm on the first floor. It is part of a two-storey, strata titled building with two units.
A high clearance warehouse at 63 Vulture Street, West End has been sold for $1.6 million to Paul Wall Constructions Pty Ltd. The warehouse includes office/retail space to the front over the ground and mezzanine levels and has a total building area of 274 sqm. Robert Finlay of King & Co Property Consultants negotiated the sale.
Some current properties listed for sale include:
- 13 Cordelia Street, 15 Cordelia Street and 17 Cordelia Street Cordelia Street, South Brisbane – three commercial properties being advertised as a 1,819 sqm development site with approval for a Royal Duke, a 30-storey residential building with 310 units; agents, Knight Frank Brisbane (Christian Sandstrom & Adam Willmore) and Colliers International (Jason Dao and Brendan Hogan).
- 2 Cordelia Street, South Brisbane – a high-clearance warehouse building with two levels of office space to the western end and lower ground car parking. The property has approval for a 30-storey residential tower with 379 apartments. For sale by expressions of interest; agent, Cushman & Wakefield Brisbane (Michael Gard and Andrew Gard).
- Unit 1, Arena Apartments, 9 Edmondstone Street, South Brisbane – a 227 sqm unit on the ground floor to Edmondstone Street, plus a car park in the basement. Total unit area, 241 sqm. For sale by negotiation; agent, Blue Commercial (Herman Hunt).
Properties under contract (conditionally or unconditionally) include:
- 37 Boundary Street and 39 Boundary Street, South Brisbane – a three-storey office building with basement car parking and a two-storey office building above lower ground car parking. Under contract; Colliers International (Brendan Hogan, Jason Dao and Nick Wedge).
- Unit 9, Montague Central, 170 Montague Road, South Brisbane – a 319 sqm, two-level unit. Under contract unconditionally; agent, Ray White Industrial Milton (Michael Manis and Matt Maranta).
- 30 Merivale Street, South Brisbane – a single-storey building to Merivale Street, used as a vehicle service centre, and a high-clearance warehouse to Cordelia Street. Under contract unconditionally with settlement expected May 2020; agent, Savills Brisbane (Tim Packman and Max Cooper).