The latest research from Docklands Cityscope shows that commercial property sales have increased in number and in total sales value. For the quarter to October 2016, there were 10 sales at a total sales value of $186 million, compared to 8 sales at a total value of $28.7 million for the previous quarter. The yearly figures have declined in number and total value, with 45 sales at a total value of $344.2 million for the twelve months to October 2016, compared to 47 sales at a total value of $662.4 million 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 October 2016 update of Docklands Cityscope include:

  • Travelodge Docklands Melbourne Hotel at 66 Aurora Lane, a 13-level hotel comprising 290 hotel rooms, a restaurant and four meeting rooms, completed in February 2010, which sold for $107 million; and
  • Vacant land, used as a car park at 395 Docklands Drive which was bought as the development site of Quest NewQuay Docklands, for $71 million.

Docklands Cityscope Quarterly Sales

Properties listed as for sale in the October 2016 update of Docklands Cityscope include:

  • Unit 7 at 46 Newquay Promenade, a 278 sqm retail area on the corner of Newquay Promenade and Mangos Lane which includes storage lot available through MP Burke Commercial;
  • Suite 1025 at 401 Docklands Drive, on level 10 to the south-western corner of building, an area of 66 sqm plus one car space available through Charlton Realty; and
  • Limonetto at 35 Newquay Promenade, a one-storey building designed for the purveyance of ice-cream and gelato and constructed in a cone shape in 2002, for sale as an asking price of $702,000 through Hocking Stuart.

Leasing opportunities listed in the October 2016 update of Docklands Cityscope include:

  • 888 Collins Street, has shops 3, 5 and 8 available through Lend Lease – Commercial;
  • M Docklands development at 677 La Trobe Street, has retail space ranging from 62 to 180 sqm and office area from 150 sqm available for pre-lease through Capital Alliance Properties; and
  • Aquavista Tower at 401 Docklands Drive, has office space ranging from 46 to 198 sqm for lease through Bosisto Commercial.

 

Commercial Research