The latest research from Canberra Cityscope shows property sales have increased significantly in the past three months.
Sales recorded in the quarter to March 2020 totalled $413.6 million of 21 sales, a large increase in terms of value from the $171.9 million of 21 sales recorded in the three months to December 2019.
The data brings the 12-month total to $1.158 billion, a significant increase from the $362.7 million recorded the same time last year.
The table below shows sales recorded for the past eight updates of Canberra Cityscope.
Notable sales in the March 2020 update of Canberra Cityscope include:
- Nishi Commercial at 2 Phillip Law Street, City, a 10-storey office building completed in 2013 and Ovolo Nishi at 25 Edinburgh Avenue, City, originally known as Hotel Hotel, located on the ground, first and second floors of the NewActon Nishi Residential building, comprising 68 hotel rooms and an in house restaurant on the ground, which were sold together for $255.75 million;
- Garema Court at 144-180 City Walk Mall, City, an eight-storey A-grade office and retail building with two levels of basement car parking for 68 cars, building area is 11,400 sqm, which was sold for $71.5 million and
- The Sebel Canberra Civic at 1-5 Akuna Street, City, a 144-unit serviced apartment hotel redeveloped from a former office building, completed mid-2019, which was sold for $48 million.
Properties listed as for sale in the March 2020 update of Canberra Cityscope include:
- A 7,125 sqm paved car park bounded by Swanson Court to the north and Chandler Street to the east and Belconnen Community Bus Station to the south, at Belconnen, which is for sale as a development site via auction through Colliers International;
- A combined site of 12,918 sqm bounded by Garth Close, Corinna Street, Melrose Drive and Furzer Street, which is for sale as a development site via auction through Colliers International and
- Members Equity Building at 11 London Circuit, City, a 6-storey office building with basement parking for 20 cars and 40 onsite car parks with a net lettable area of 3,230 sqm, which is for sale through CBRE-Sydney, CBRE-Canberra and LJH Commercial Canberra.
Leasing opportunities in the March 2020 update of Canberra Cityscope include:
- CQ Tower 1 at 68 NOrthbourne Avenue, City, a 12-storey commercial building comprising ground floor retail, mezzanine office and 11 floors of commercial space with a net lettable area of 18,000 sqm, basement parking over 3 levels for 217 vehicles and roof to accommodate a solar PV panel completed late 2019, which has office space ranging from 214 sqm to 13,977 sqm available through Colliers International Canberra and JLL Canberra;
- 64 Northbourne Avenue, City, a 4, 5 and 7-storey office building with ground floor showrooms, internal skylight atrium and one basement level with parking for 33 cars, which has office space ranging from 183 sqm to 1,025 sqm available through JLL Canberra and Knight Frank and
- 2 Constitution Avenue, City, a seven-storey office building, split into two sections, with two levels of basement parking for 203 cars, which has office space ranging from 358 sqm to 4,988 sqm available through JLL Canberra and Knight Frank.