The latest research from Eastern Melbourne Cityscope shows property sales have increased significantly in the past three months. Sales recorded in the quarter ending July 2017 totaled $240.6 million, a large increase from both the $79 million recorded in the three months to April 2017, and from the $113.7 million recorded in the three months to January 2017. This data brings the 12-month total to $604.7 million, a slight decrease from the $709.6 million recorded over the previous year.
The table below shows sales recorded for the past eight updates of East Melbourne Cityscope.
Notable sales in the July 2017 update of Eastern Melbourne Cityscope include:
- Monash Gateway Business Park at 495-501 Blackburn Road, Mount Waverley (EM6.23), comprising a two-storey office building with a section of office-warehouse space and a two-level parking station, a four-storey office building with two levels of basement parking, a two-storey office building and a number of large warehouse buildings, providing a total net lettable area of 23,724 sqm, which was sold for $74.247 million in a deal handled by CBRE Melbourne;
- 216 Victoria Parade, East Melbourne (EM1.17), a 10-level office building including a basement on a site of 1,028 sqm and 200 Victoria Parade, East Melbourne (EM1.18), comprising two buildings, a nine-level office building including two levels of basement parking for 101 cars and a 7-storey office building, which were sold together for approximately $60 million; and
- Unit 1 at 15 Compark Circuit, Mulgrave (EM6.171.1), a two-level office building of 2,956 sqm with 118 car spaces, and unit 2 at 13 Compark Circuit, Mulgrave (EM6.171.2), a two-level office building of 2,956 sqm with 115 car spaces, which were sold together for $21.5 million.
Properties listed as for sale in the July 2017 update of Eastern Melbourne Cityscope include:
- 8 Lakeside Drive, Burwood East (EM5.27), a three-storey office building including lower ground and external parking for about 150 cars in the Tally Ho Business Park, with a building area of 4,552 sqm, which is for sale by expressions of interest closing 17 August 2017 through Colliers International Melbourne East and Dawkins Occhiuto Real Estate;
- 326 Wellington Road, Mulgrave (EM6.28), a two-storey office building in the Mulgrave Business Park, with a building area of 3,611 sqm, which is available for sale in July 2017 through Gross Waddell and Knight Frank Glen Waverley; and
- Lot 6, known as Suite 3 at 860 Doncaster Road, Doncaster (EM7.22.6), an office suite of approximately 136 sqm one level 1 and parking for four cars in the basement in a three-level building, which is available for sale through Dawson Real Estate.
Leasing opportunities in the July 2017 update of Eastern Melbourne Cityscope include:
- 745 Springvale Road, Mulgrave (EM6.13), a two-storey office building with high clearance warehouse space to the rear, which has office space from 500 to 3,200 sqm available through Colliers International Melbourne East and CBRE Mulgrave;
- 12 Wesley Court, Burwood East (EM5.47), a six-level office building with two basement car parking levels, which has office space 486 to 3,200 sqm available through JLL Glen Waverley; and
- 700 Springvale Road, Mulgrave (EM6.5), a six-storey office building plus basement car park with a net lettable area of 6,930 sqm, which has office space from 640 to 4,270 sqm available through Colliers International Melbourne East and JLL Glen Waverley.
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.
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