The latest research from Burke Road Cityscope shows sales value has increased in the quarter to May 2020. In this latest quarter, there were 6 sales at $36.7 million, compared to the 8 sales at a total value of $17.5 million in the previous quarter.
This quarter brings the 12-month total to $62.2 million comprising 18 sales, an increase compared to the 18 sales at a total value of $30.1 million over the previous year.
The table below shows sales recorded for the past eight updates of Burke Road Cityscope.
The top sales in the May 2020 update of Burke Road Cityscope are:
- The whole building at 614-616 Burke Road, Camberwell including unit 1, the whole of the ground level, the majority of level 1 at the Burke Rd end, a smaller part at the south-eastern corner of level 1 and the majority of the roof at the Burke Rd end; unit 2, two parts on Level 1, the main part at the north-eastern corner plus a smaller piece on the southern side of the building, and one part on the roof at the north-eastern corner of the building and unit 3, one part on level 1 near the south-eastern corner of the building, one part on the roof at the south-eastern corner of the building, which sold together for about $16.5 million through Gorman Commercial. The sale represented an initial yield of 4.74% on passing income of $782,872;
- 735-737 Burke Road, Hawthorn East, a two-storey brick building of 844 sqm with first-floor offices and to the rear, a yard used as parking with space for about ten cars, which sold for $12.06 million through Fitzroys. The sale represented an initial yield of 3.52% on passing income of $425,000 and
- 815 Burke Road, Camberwell, part of a single-storey, brick terrace row which contains a shop to Burke Road and a small rear yard with space for parking two cars, which was sold for $3.45 million.
Properties for sale in the May 2020 update of Burke Road Cityscope include:
- 991 Burke Road, Hawthorn East, a paved parking lot of 1,829 sqm for about 35 cars, partly landscaped and 993 Burke Road, Hawthorn East, vacant land of 1,392 sqm, which are for sale together as a development site through Savills – Melbourne;
- Stratum lot 3, in CV Two at 141 Camberwell Road, Hawthorn East, a podium comprising retail/commercial space on level 1, level 1 mezzanine and levels 2 to 4 and parking space in basement level 1 mezzanine and basement levels 1 to 5 which has approximately 2,640sqm of office/retail space for sale through JLL Metro Market and JLL Melbourne.
Leasing opportunities listed in the May 2020 update of Burke Road Cityscope include:
- 293 Camberwell Road, Camberwell, a four-storey concrete office building, completed in 1990 on the site of the former Golden Bowl tenpin bowling centre and which underwent a significant upgrade including new lobby and end of trip facilities in 2019, has office space of 573 sqm on the ground floor available through JLL Metro Market;
- 689 Burke Road, Hawthorn East, a six-storey office building with eight car stackers on paved land to the rear, providing parking for about 31 cars, plus more car parking on the lower ground level (total 36 spaces), which has office space of 327 sqm on level 1 available through Gorman Kelly and Colliers International - Melbourne East and
- 403A - 405 Riversdale Road, Hawthorn East, a two storey office building of 363 sqm which includes 12 parking spaces in a paved rear yard, has the whole building with naming rights available through Gorman Kelly and JLL Metro Market.