The latest research from Docklands Cityscope shows that commercial property sales have significantly increased in total sales value largely due to the $550 million sale of Two Melbourne Quarter development. For the quarter to April 2018, there were 7 sales at a total sales value of $1.078 billion, compared to the 16 sales at a total value of $173.3 million for the previous quarter. The yearly figures have increased in total value, with 61 sales at a total value of $2.01 billion for the twelve months to April 2018, compared to the 49 sales at a total value of $1.176 billion for the previous year.

The table below shows sales recorded for the past eight updates of Docklands Cityscope.

Docklands cityscope quarterly sales

Notable sales in the April 2018 update of Docklands Cityscope include:

  • Two Melbourne Quarter development at 697 Collins Street, to be a 25-storey 128-metre tall office building comprising approximately 49,000 sqm office space with floor plates of 2,000 sqm and 800 sqm retail space, which was changed hands at a value believed to be $550 million; 
  • The Myer Headquarters at 800 Collins Street, a 14-level building with retail space on the ground floor, three car parking levels and ten levels of office space, providing a net lettable area of 29,492 sqm, which was bought for $295.2 million and 
  • Victoria Police Centre at 637 Flinders Street, Tower 1 of the WTC Wharf complex, a twin-tower complex with two distinct but inter-connected office buildings sharing three levels of parking, which was bought for $122 million.
docklands cityscope quarterly sales

 

Properties listed as for sale in the April 2018 update of Docklands Cityscope include:

  • Stage 3 (Lot S3) at Dock 5, 55 Victoria Harbour Promenade, a section of the ground, first and second floors with frontage to Victoria Harbour Promenade, plus a two-storey retail annexe at the north-western corner of the building, which is available through Nelson Alexander Dockland; 
  • Two adjoining office suites, Lot 413 and Lot 414, on level four at 838 Collins Street, with a combined area of 116 sqm, which is for sale through Colliers International Melbourne and
  • Lot 1309 in Aquavista Tower at 401 Docklands Drive, a 66 sqm office suite on level 13 plus one car space, which is for sale through Lucas Real estate Docklands. 

Leasing opportunities listed in the April 2018 update of Docklands Cityscope include:

  • The development at 839 Collins Street, to be a 21-storey A-grade commercial and retail building, which has office space of 2,000 sqm to 11,600 sqm for pre-lease through Colliers International Melbourne and JLL Melbourne; 
  • Office space of 9,799 sqm in the proposed MAB Quarter development at 396 Docklands Drive, is for pre-lease through Cushman & Wakefield Melbourne and Colliers International Melbourne and 
  • Stage 3 (Lot S3) at Dock 5, 55 Victoria Harbour Promenade, a section of the ground, first and second floors with frontage to Victoria Harbour Promenade, plus a two-storey retail annexe at the north-western corner of the building, which has office space of 2,200 sqm for lease through Nelson Alexander Docklands.
     

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