The latest research from Docklands Cityscope shows that commercial property sales have increased significantly with 15 sales at a total of $280.1 million, compared to the 11 sales at a total value of $37.5 million for the previous quarter. The year’s total, however, has decreased, with 57 sales at a total value of $587.9 million for the twelve months to July 2019, compared to the 59 sales at a total of $1.924 billion for the previous year.
The table below shows sales recorded for the past eight updates of Docklands Cityscope.
Notable sales in the July 2019 update of Docklands Cityscope include:
- 737 Bourke Street
An 11-storey building completed in late 2008, comprising 16,000 sqm of office space and 1,100 sqm of retail premises plus basement car parking for 231 cars, was bought for $192 million through JLL Melbourne and
- Bendigo Bank Building at 120 Harbour Esplanade
An 8,341 sqm, nine-level commercial tower completed in mid 2005 with a podium along Harbour Esplanade, office/retail space on the ground floor and office space above plus a retail showroom opening onto the pedestrian concourse around Marvel Stadium, was bought for approximately $80 million through Colliers International - Melbourne and CBRE - Melbourne.
Commercial/retail strata units listed as for sale in the July 2019 update of Docklands Cityscope include:
- Unit 24 at 16 Saint Mangos Lane
A 385 sqm retail unit on the corner of Caravel Lane and Saint Mangos Lane, for sale with an asking price of $1.69 million through Commercial Bureau Real Estate and
- Unit 405
A 92 sqm office space on level four at the Life.lab at 198 Harbour Esplanade, for sale though All Commercial Real Estate - Moorabbin.
Leasing opportunities listed in the July 2019 update of Docklands Cityscope include:
- 637 Flinders Street, currently the Victoria Police Centre
Twin towers which comprise an eight-level building divided into five office levels above three levels of parking and a stepped building of six, seven and thirteen levels including three levels of parking in the first two storeys, which has office space of 650 to 25,716 sqm in the proposed extensively refurbished building for pre-lease through Cushman & Wakefield – Melbourne and Colliers International - Melbourne;
- 1000 La Trobe Street development
To be an A-grade tower of 23-storeys and 40,000 sqm with an average floor plate of 2,100 sqm and parking for 460 cars, has office space of 2,100 to 38,900 sqm for lease in the future building available through Colliers International Melbourne and
- 717 Bourke Street
An 18 level office building completed late 2010 with a total net lettable area of 37,000 sqm and a link by pedestrian bridge over Wurundjeri Way to Southern Cross Station, has office space of 261 to 3,047 sqm through Savills – Melbourne and CBRE.