The latest research from Chapel Street Cityscope shows that commercial property sales have increased in the past three months. Sales recorded in the quarter to February 2018 totalled $10.4 million from 11 sales, compared with the $9.4 million from 5 sales in the three months to November 2017 but a decrease compared with the $22.3 million from 6 sales in the three months to August 2017.
This data brings the 12 month total to $67.5 million from 32 sales, a dramatic decrease from the previous twelve month total of $377.3 million from 34 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope.
Notable sales recorded in the February 2018 update of Chapel Street Cityscope include:
- The whole building at 173-175A High Street, Prahran, including lot 1, lot 2, lot 3, lot 4, lot 5, lot 6 and lot 7, a glass-fronted brick building of four levels, containing a ground floor shop, office space over levels 1, 2 and part of 3, and two penthouse apartments, which sold for $4.645 million;
- 321A Chapel Street, Prahran , a ground floor retail unit in the Love & Lewis building, which sold for $1.55 million.
Properties listed as for sale in the February 2018 update of Chapel Street Cityscope include:
- 306 Toorak Road, South Yarra, a single-storey retail building with a courtyard on a 278 sqm block, for sale through Morley Commercial;
- 49 Toorak Road, South Yarra, a two-storey retail building on a 56 sqm block, for sale through LINQ Property; and
- 461-463 Chapel Street, South Yarra, a high-fronted single-storey retail building with a gross building area of 236 sqm, for sale through Vinci Carbone Property.
Leasing opportunities listed in the February 2018 update of Chapel Street Cityscope include:
- 417 Chapel Street, South Yarra, a two-storey retail building with a rear yard, has retail space of 117 sqm for lease through Beller Commercial Melbourne;
- The Colonnade at 524 Chapel Street, South Yarra, a three-level retail and office complex with two levels of parking for 198 cars and a separate two-storey Victorian building, has retail space of 165 sqm for lease through Fitzroys – Melbourne; and
- 473 Chapel Street, South Yarra, a two-storey brick retail building to Chapel Street, with a single-storey section to the rear of the property and a parking for one car, has retail space of 148 sqm for lease through Fitzroys- Melbourne.
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe