The latest research from Burke Road Cityscope shows sales have increased in total value in the quarter to February 2019. In this latest quarter, there were 6 sales at a total value of $9.9 million, compared to the 3 sales at a total value of $7.3 million in the previous quarter.
This quarter brings the 12-month total to $34 million of 20 sales, a significant decrease compared to the 27 sales at a total value of $108.2 million over the previous year.
The table below shows sales recorded for the past eight updates of Burke Road Cityscope.
Notable sales in the February 2019 update of Burke Road Cityscope include:
- 979 Burke Road, Camberwell, a two-storey brick office building with a parking area at the rear and a building area of 664 sqm, which sold at auction for $3.9 million through CBRE - Melbourne. The sale represented an initial yield of 3.88% on a passing income of $151,463 (net) and
- 369 Camberwell Road, Camberwell, a two-storey brick building constructed in 1890 and renovated 1990. The rear of the building was demolished in 2002 and a two-storey extension plus basement car park for four cars was added as part of a conversion to office space, with a building area of 400 sqm and parking access via rear access lane, which sold at auction for $2.23 million through Beller Commercial.
Properties for sale in the February 2019 update of Burke Road Cityscope include:
- 398 Camberwell Road, Camberwell, a single-storey brick shop constructed in 1924 on a 69 sqm site, which is for sale via auction on 14 March 2019 through Fitzroys and
- 543 Riversdale Road, Camberwell, a single-storey brick shop building constructed in 1925 as the UFS Dispensary which was refurbished late 1992, and again in 1998, which is for sale through Gorman Commercial.
Leasing opportunities listed in the February 2019 update of Burke Road Cityscope include:
- 3 Prospect Hill, also known as the Vic Roads Building in Camberwell, a four-storey office block with 115 basement car spaces, built in 1984 and a single storey cafe/restaurant extension added to the corner in 2007, which has retail areas ranging from 96 to 201 sqm available through TT Global;
- CV Apartments development at 141 Camberwell Road, Hawthorn East, which will be comprised of two apartment buildings; CV One, an 11-storey bronze apartment building comprising 96 apartments with a ground floor commercial tenancy and four levels basement parking for 92 cars and CV Two, to be a 12-storey, curved L shared silver tower comprising 127 apartments, a 4-storey podium with a central atrium, communal space, shops, restaurants, a gymnasium, yoga studio and five levels basement parking for 341 cars, which has office space of 76 to 8,500 sqm available for pre-lease through JLL Glen Waverley and
- 169 Camberwell Road, Camberwell, a two-storey office and restaurant building which was extensively refurbished in early 2009, which has retail/warehouse space of 450 sqm available through Uptown Partners and GormanKelly.