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 April 2018 totaled $124.6 million, compared to the $177.9 million recorded in the three months to January 2018, while total sales number has decreased significantly to 24 in the past three months from the 47 sales recorded in the previous quarter. 
This data brings the 12-month total to $764.3 million, an increase from the $548.1 million recorded over the same period of previous year. 

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

Eastern Melbourne cityscope quarterly sales


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

  • 452-484 Johnston Street, Abbotsford, a two-storey office building with warehouse space and building area of approximately 16,000 sqm with 485 car spaces, reconstructed and refurbished in 2000, which was bought for $93.5 million on a yield of 5.85%, in a deal handled by CBRE Melbourne;
  • Sportscover House at 271-273 Wellington Road, Mulgrave, a two-storey office building with basement parking and additional parking in yard to the north of the building on a 3,289 sqm site, which was bought for $9.75 million; and
  • Three office suites at 84-104 Johnston Street, Fitzroy known as suite 2/84 Johnston Street, a ground floor suite to the corner of Johnston and Fitzroys Streets with six basement car spaces; suite 1/84 Johnston Street, a ground floor suite with three basement car spaces were bought with a first floor office suite on level one at 84 Johnston Street on the western half of the building with 16 basement car spaces, for a total price of $7.135 million.

 

Eastern Melbourne cityscope quarterly sales graph


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

  • Mitcham Plaza at 602 Whitehorse Road, Mitcham, an office building of three levels including basement and strata subdivided in 1988 into 86 units; 15 office suites and 71 car spaces, which is for sale by expressions of interest closing 17 May 2018 through Colliers International of Melbourne East & Ballarat and Burgess Rawson; 
  • General Practice House at 1186 Toorak Road, Camberwell, a three-level office building of 1,466 sqm with lower-ground and rear parking for 26 car spaces on a 737 sqm site, which is for sale with an asking price of $5,999,000 through Haim Real Estate Camberwell; 
  • Two matching buildings in Box Hill at 25 Ellingworth Parade and 27 Ellingworth Parade, both two-storeys with ground floor parking and office space on the upper level are for sale together with 29 Ellingworth Parade, a two-level brick office building refurbished internally in mid-2009 with rear parking for four cars on a combined site of 1,220 sqm, for sale by expressions of interest closing 10 May 2018 through CBRE Melbourne; and
  • 2 Whitehorse Road, Blackburn, a concrete 910 sqm office building of three levels including a basement car park with 16 spaces and strata subdivided in 1990 into three lots (two ground floor lots and the first floor), for sale through New Century Real Estate & Business Broker.

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

  • 1092-1096 Toorak Road, Camberwell, a 4-level concrete and glass office building, with two office floors plus upper and lower ground floor parking to the rear for 126 cars, completed in 1986, which has office space of 2,000 sqm on level one available through JLL Glen Waverley; 
  • 19 - 23 Prospect Street, Box Hill, an office building of five levels including two levels of basement parking for 152 cars, completed in 1988 and fully refurbished in 2003 with office area of 4,275 sqm, which has office space ranging from 390 sqm to 3,243 sqm available through GormanKelly and Colliers International Melbourne East; and
  • 591-597 Blackburn Road, Notting Hill, part of Notting Hill Business Campus, a two-storey office building to the front and warehouse space to the rear, which has office space of 1,666 sqm on level 1, available through Pellicano Group and Colliers International Clayton.
     

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