The latest research from Eastern Melbourne Cityscope shows property sales have decreased in the past three months in terms of total sales value. Sales recorded in the quarter ending January 2018 totaled $177.9 million, compared to the $213.3 million recorded in the three months to October 2017, while total sales number has increased significantly to 47 in the past three months from the 27 sales recorded in the previous quarter. 

This data brings the 12-month total to $715.9 million, an increase from the $641.2 million recorded over the same period of previous year. 

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

2018-02-07--EasternMelbourneCityscopeQuarterlySales

Notable sales in the January 2018 update of Eastern Melbourne Cityscope include:

  • The Hewlett Packard campus at 353 Burwood Highway, Forest Hill, part of the Tally Ho Corporate Park, a three and four-storey glass facade building with basement parking for 187 cars and 244 spaces at grade with a building area of about 9,523 sqm, which was bought for $88 million on a yield of 3.6%, in a deal handled by CBRE Victoria;
  • 785-789 Toorak Road in Kew East, a four-level office building including car parking in the basement and on the ground floor for 123 cars, with a net lettable area of 4,035 sqm, which was bought for $24.65 million on a yield of 5.5%, in a deal handled by JLL Melbourne and Colliers International; and
  • Shannon House at 24 Gardiner Road, Notting Hill, a two-storey office building in the Monash Business Park, providing 4,825 sqm area and 81 car parking spaces, which was bought for $10.3 million. 

 

2018-02-07--EasternMelbourneCityscopeQuarterlySalesGraph

Properties listed as for sale in the January 2018 update of Eastern Melbourne Cityscope include:

  • 12 Carters Avenue, Toorak, a two-storey office building plus basement parking for 10 cars, with a building area of 534 sqm on a 437 sqm piece of land, which is for sale through Gross Waddell;
  • Unit 120 in Toorak Corporate Business Centre at 19-33 Milton Parade, Malvern, a 63 sqm office suite, which is for sale by expressions of interest closing 28 February 2018 through Exceland Real Estate; and
  • Unit 5 at 6 Gilda Court, Mulgrave, an office and warehouse unit comprising 323 sqm two-level offices and 348 sqm high clearance warehouse, which is for sale through CBRE Mulgrave. 

 

Leasing opportunities in the January 2018 update of Eastern Melbourne Cityscope include: 

  • 990 Whitehorse Road in Box Hill, a concrete and glass-paneled office building of nine levels including three basement levels with 403 car spaces, which has office space range from 300 sqm to 10,000 sqm available through JLL Glen Waverley and Colliers International; 
  • 15-17 Prospect Street, Box Hill, a modern concrete office building of two storeys plus basement parking for 68 cars, which has office space ranging from 1,047 sqm to 2,121 sqm available through Knight Frank Glen Waverley and Colliers International Melbourne CBD; and
  • 347-353 Burwoood Highway, Burwood East, comprising two office buildings of two and three-storeys with parking space for 310 cars, which have office space ranging from 600 sqm to 5,200 sqm available through Colliers International Melbourne East and CBRE Mulgrave.

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. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe