The latest research from Docklands Cityscope shows that commercial property sales have increased significantly with 10 sales at a total of $205.6 million, compared to the 8 sales at a total value of $2.9 million for the previous quarter. The year’s total, however, has decreased, with 42 sales at a total value of $496.6 million for the twelve months to April 2020, compared to the 56 sales at a total of $569.6 million for the previous year.

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

Notable sales in the April 2020 update of Docklands Cityscope include:

  • Currently a park at 7-23 Spencer Street, with a site area of 8,607 sqm, was sold as a development site subject to council approval to construct a mixed-use development comprising of an office tower of approximately 40,000 square metres and a build-to-rent (BTR) apartment tower of approximately 430 apartments as well as additional commercial space. Both towers will be complemented with high-quality amenity and retail space, which was bought for $200 million;  
  • Unit 1, known as 26 Cumberland Street, a retail shop on the ground level and unit 2 known as 846 Bourke Street, a retail unit on the ground level on the corner of Bourke and Cumberland Streets at The Merchant, an eight-storey residential building with 133 residential apartments on the upper floors plus eight retail shops, which were bought together for $1.1 million and 
  • Lot B52, a retail shop on level 4 of Victoria Point at 744 Bourke Street, opening onto the Telstra Dome concourse, which was bought for $1 million. 

Commercial/retail strata units listed as for sale in the April 2020 update of Docklands Cityscope include:

  • Unit 12, known as 15 Saint Mangos Lane, a corner retail shop of 60 sqm, title includes storage lot, which is for sale through agent Nelson Alexander Docklands and 
  • Lot 307 at Life.lab at 198 Harbour Esplanade, a 48 sqm office space on level 3 including a car space, which is for sale through Knight Frank – Melbourne.
     

Leasing opportunities listed in the April 2020 update of Docklands Cityscope include:

  • The District Docklands at 440 Docklands Drive, comprises a number of integrated two and three-storey buildings, which houses 80 stores and commercial space over two levels comprising 40,818 sqm of floor space and 2,818 car spaces. The development also includes four residential buildings known as Watermark, Latitude, Terrace Moderne and Atelier providing a total of 106 residential dwellings across four buildings with a mixture of townhouses and apartments, which has office space ranging from 300 sqm to 5,000 sqm available through Colliers International - Melbourne and Cushman & Wakefield - Melbourne; 
  • 370 Docklands Drive, an A-grade seven-storey office building completed in late 2008 with parking for 140 cars on levels 1 and 2 and a total net lettable area of 7,129 sqm and typical floor area of 1,600 sqm, which has office space ranging from 500 sqm to 1,400 sqm available through Fitzroys – Melbourne and 
  • 717 Bourke Street, an 18-level office building completed late 2010, with a total net lettable area of 37,000 sqm. It has a four-level podium with retail space fronting Aurora Lane and jointly shared parking for 471 cars with the Travelodge Docklands, which has office space ranging from 521 sqm to 3,047 sqm available through Savills – Melbourne and CBRE – Melbourne.