The latest research from Eastern Melbourne Cityscope shows property sales have increased in the past three months in both total sale value and volume.

Sales recorded in the quarter ending April 2021 totalled $103.2 million from 23 sales, compared to the $32 million from 13 sales in the quarter ending January 2021 and the $51.8 million from 16 sales in the quarter ending October 2020.

This data brings the 12-month total to $315 million, a decrease from the $1.042 billion recorded over the same period of the previous year.

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

Notable sales in the April 2021 update of Eastern Melbourne Cityscope include:

  • 14-16 Yarra Street, South Yarra, a brick office building of 2 levels to Yarra Street and 3 levels to the rear, with undercover parking for 45 cars at ground level and to the rear of the building, with a building area of 3,216 sqm, built in 1965, which was bought for $46.97 million;
  • 3 Hamilton Street, Mont Albert, a 7-level building with three floors of offices above a four-level basement car park and retail areas on the ground floor, providing gross floor area of 3,720 sqm and 115 car parking spaces, internally refurbished including new end of trip facilities in July 2020, which was bought for $27.85 million; and
  • 56-60 Rutland Road, Box Hill, a 3-level office building including lower-ground parking for 70 cars, built in 1981 and substantially upgraded in 1999, with a building area of 2,394 sqm, which was bought for $13 million.

Properties listed as for sale in the April 2021 update of Eastern Melbourne Cityscope include:

  • 21A Shierlaw Avenue, Canterbury, a 3-level office building including a 13-space basement car park, with a building area of 650 sqm, which is for sale asking from $4 million to $4.4 million through Jones Real Estate – Melbourne;
  • 4-6 Howitt Street, South Yarra, a 2-level brick office building of 496 sqm, built in 1985, with undercover parking and onsite parking for 9 cars, which is for sale through Teska Carson Richmond; and
  • Unit 4 in Kew Commercial Centre, a 501 sqm 2-storey office/warehouse unit to Woodlands Avenue, with 5 car parking spaces on paved land to the front of the building, which is for sale asking $3.5 million through CVA Property Consultants.

Leasing opportunities in the April 2021 update of Eastern Melbourne Cityscope include:

  • 2 Nexus Court, Mulgrave, part of Nexus Corporate Park, a four-storey commercial building with two levels of basement parking for 200 cars, completed in July 2002, which has 5,600 sqm available through Colliers International – Melbourne;
  • 18-62 Trenerry Crescent, Abbotsford, three linked brick buildings of single-storey to two and three-storey, linked by a glass atrium and a glass corridor, with parking for 48 cars on the site, which has office space ranging from 427 to 2,323 sqm available through GormaKelly; and
  • 6-8 Compark Circuit, Mulgrave, a 2-storey office building of 3,162 sqm, with 114 car parking spaces, which has office space ranging from 500 to 1,610 sqm available through Colliers International – Melbourne.