The latest research from Docklands Cityscope shows that commercial property sales have decreased in total value. For the quarter to October 2018, there were 17 sales at a total of $ 37.5 million, compared to the 14 sales at a total value of $261.8 million for the previous quarter. The yearly figures have decreased, with 54 sales at a total value of $1.550 billion for the twelve months to October 2018, compared to the 70 sales at a total of $1.721 billion for the previous year.
The table below shows sales recorded for the past eight updates of Docklands Cityscope.
Notable sales in the October 2018 update of Docklands Cityscope include:
- 259 Footscray Road, a 5,525 sqm piece of vacant land, used as a car park and allocated for future development, which was transacted at approximately $25 million;
- 818 Bourke Street, also known as the Ericsson Commercial Tower, comprising six levels of office space above a car park of three split levels with a net lettable area of 23,322 sqm and parking for 174 cars and 165 bicycles, which was bought as part of the $645 million acquisition of a four-tower portfolio; and
- Unit 110WA in Waterfront City Stage 1, at 439 Docklands Drive, a 3-level strata office and retail complex. The unit is a retail premises on ground level in west building, which was bought for $3 million.
Properties listed as for sale in the October 2018 update of Docklands Cityscope include:
- Unit 113W and Unit 214W in Waterfront City Stage 1, at 439 Docklands Drive, retail premises on ground level and first level respectively, which are for sale together through CBRE Melbourne and Sutherland Farrelly;
- Unit 1RC, known as 755 Bourke Street in Site One, a retail shop, which is for sale through Hewett Commercial; and
- Unit 848, known as 848 Bourke Street in Convesso, a 105 sqm retail shop on ground level at the corner of Cumberland Street and Bourke Street, which is for sale through Melbourne Commercial Group.
Leasing opportunities listed in the October 2018 update of Docklands Cityscope include:
- 839 Collins Street, a new office development of 21 storeys with total area of 38,000 sqm, which has office space of 2,000 to 11,600 sqm for lease through Colliers International and JLL Melbourne; and
- 396 Docklands Drive, a proposed MAB Quarter development, which will comprise four buildings of between 6,000 and 10,000 sqm, has office space of 9,799 sqm for pre-lease through Cushman & Wakefield Melbourne and Colliers International Melbourne.