The latest research from Eastern Melbourne Cityscope shows property sales have decreased significantly in the past three months in terms of total sales value.
Sales recorded in the quarter ending in January 2019 totaled $71.5 million, compared to the $121.7 million recorded in the three months ending in October 2018.
This data brings the 12-month total to $469.3 million, a decrease from the $725.4 million recorded over the same period of previous year.
The table below shows sales recorded for the past eight updates of Eastern Melbourne Cityscope.
Notable sales in the January 2019 update of Eastern Melbourne Cityscope include:
- John Holland House at 70 Trenerry Crescent, Abbotsford, comprising of four buildings of two and three-storey around a courtyard with a total building area of 5,439 sqm and 204 car spaces, which was bought for $41 million in a deal handled by Colliers International;
- 411-415 Ferntree Gully Road, Mount Waverley, a two-storey office building of 1,214 sqm with a warehouse of 1,050 sqm to the rear and a total of 66 on-grade car spaces, which was bought for $7.25 million; and
- 417 Ferntree Gully Road, Mount Waverley, an office building comprising nine single-storey suites, completed in 19685, on a site of 5,400 sqm, which was bought for &7 million.
Properties listed as for sale in the January 2019 update of Eastern Melbourne Cityscope include:
- 112 Trenerry Crescent, Abbotsford, a former factory/warehouse building of four and five storeys, converted to offices. The property provides 4,252 sqm net lettable area and 140 car parking spaces on a block of 4,408 sqm, which is available through Fitzroys;
- 347-351 Burwood Highway, Forest Hill, comprising a two-storey office building and a three-storey office building with a total area of 10,692 sqm, and a three-level car park building, which is available through Colliers International - Melbourne East ; and
- 207-213 Waverley Road, Malvern East, a glass-paneled office building of two storeys plus basement parking for 63 cars, with a total building area of approximately 2,137 sqm, is for sale through Colliers International.
Leasing opportunities in the January 2019 update of Eastern Melbourne Cityscope include:
- 347-351 Burwood Highway, Forest Hill, two office buildings of two and three storeys, which has office space up to 3,500 sqm available through Colliers International – Melbourne East and CBRE (Mulgrave);
- 990 Whitehorse Road, Box Hill, a concrete and glass-paneled office building of nine levels, including three basement levels with 403 car spaces, which has refurbished office space up to 10,000 sqm available through Colliers International and JLL-Glen Waverley; and
- 385-395 Ferntree Gully Road, Mount Waverley, comprising a two-storey office building with a warehouse section to the rear plus basement parking and a three-storey building with basement and on-grade car spaces, which has office and warehouse space of 3,109 sqm available through Colliers International and Pellicano Group.