The latest research from Eastern Melbourne Cityscope shows property sales have increased in the past three months. Sales recorded in the quarter ending July 2016 totalled $164.6 million, a slight increase from the $156.7 million recorded in the three months to April 2016, and a decrease from the $187.6 million recorded to January 2016. This data brings the 12-month total to $700.2 million, an increase from the $508.9 million recorded over the previous year.

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

Eastern Melbourne Cityscope Quarterly Sales

Notable sales in the July 2016 update of East Melbourne Cityscope include:

  • A two-storey office building at 452 to 484 Johnston Street, Abbotsford, with office space of 16,000 sqm and parking for 485 cars which was originally built in 1918 and refurbished and reconstructed as an office building on a 16,920-sqm site, which was bought with a leaseback option for $80.808 million in a sale handled by CBRE;
  • The Atrium a four-storey building with three office floors plus basement parking for 182 cars at 2 Luton Lane, Hawthorn, on a 4,104-sqm site, which was bought for $37.36 million in a sale handled by Fitzoys; and
  • 826 Whitehorse Road, Box Hill, a mirrored-glass fronted concrete office building of two levels with basement parking for 39 cars on a 1,078 sqm site and 830 Whitehorse Road a four-storey concrete and brick office building built in 1986 and refurbished in late 2003 on a 1,572-sqm site, which were bought together for $28 million in a sale handled by Savills.

Eastern Melbourne Cityscope Quarterly Sales

Properties listed as for sale in the July 2016 update of East Melbourne Cityscope include:

  • 200 Victoria Parade, which consists of a 9-level building to the corner and integrated with an adjacentseven-storey office building in Lansdowne Street on a 2,726-sqm site and 216 Victoria Parade, a 10-level office building including a basement on a 1,028-sqm site, available through JLL Melbourne;
  • Unit 4 at 2 Gilda Court, Mulgrave, a commercial unit of approximately 386 sqm on level one with four undercover car spaces on the ground level and 11 on-grade car spaces, at an asking price of $1.2 million through Cameron; and
  • 351 Burwood Highway, Burwood East of three storeys built in 1998, through JLL Melbourne and Dawkins Occhiuto Real.

Leasing opportunities in the July 2016 update of East Melbourne Cityscope include:

  • Greenwood Business Park, at 301 Burwood Highway, Burwood, consisting of three buildings with a total net lettable area of 19,900 sqm, has office space of 1,500 to 3,500 sqm for lease through Colliers International Clayton;
  • 700 Springvale Road Mulgrave, an office building of 6 storeys plus basement car park with lettable area of 6,930 sqm, has office space of 500 to 7,000 sqm for lease through JLL Glen Waverley and Colliers International Melbourne; and
  • Unipark Corporate Offices at 195 Wellington Road, Clayton, has office space of 340 to 1,200 sqm in Building 1 for lease through JLL Glen Waverley.

Commercial Research