The latest research from Eastern Melbourne Cityscope shows property sales have decreased in the past three months. Sales recorded in the quarter ending January 2017 totalled $111.6 million, a decrease from the $170.5 million recorded in the three months to October 2016, and a decrease from the $164.1 million recorded to July 2016.
This data brings the 12-month total to $602.9 million, also a decrease from the $720.6 million recorded over the previous year.
The table below shows sales recorded for the past eight updates of Eastern Melbourne Cityscope:
Notable sales in the January 2017 update of Eastern Melbourne Cityscope include:
- 16-18 Cato Street, Hawthorn East, a four-storey office building, completed in late 2004 with a net lettable area of 5,000 sqm, which was bought for $24.7 million through Colliers International;
- 10 Wesley Court, Burwood East, one of the 16 buildings in the Tally Ho Business Park with a net lettable area of 5,293 sqm over four-storys, which was bought for $19.55 million through Fitzroys and
- Bayer Building at 391-393 Tooronga Road, Hawthorn East, a three-level office building including a 48-space lower ground floor car park, which was bought for $13.5 million through Gross Waddell and Sutherland Farrelly.
Properties listed as for sale in the January 2017 update of Eastern Melbourne Cityscope include:
- 8 Business Park Drive, Notting Hill, a two-story building in Monash Business Park with parking spaces for 24 cars on adjacent paved areas is for sale with an asking price of $1.34 million in January 2017 through Lawson Real Estate and
- Monash Gateway Business Park; several buildings – at 495-501 Blackburn Road, a two-storey office building with a section of office-warehouse space and a two-level parking station at the western end. At 501 Blackburn Road, towards the south-eastern corner of the property, a four-storey office building with two levels of basement parking completed mid-2002 and on the south-western section known as 497 Blackburn Road, a 2-storey office building completed in 2002. The whole site is for sale with an asking price of about $82 million through CBRE Melbourne.
Leasing opportunities in the January 2017 update of Eastern Melbourne Cityscope include:
- Axxess Corporate Park, at 170 Forster Road, Mount Waverley, an office/industrial park with parking for 1,240 cars has office and warehouse space of up to 8,000 sqm for lease through Colliers International – Melbourne East and Dexus Property Group;
- Jellis Craig Building, at 818 Glenferrie Road, Hawthorn, a three-storey office building with basement parking for 49 cars and a roof top terrace, has office space of 996 to 2,037 sqm for lease through Gorman Commercial and
- 347-353 Burwood Highway, Burwood East, consisting of two buildings – the Agilent Technologies building, a 2-storey building and the Hewlett Packard building, a 3-storey buidling with parking for 310 cars, has office space of 1,000 to 2,000 sqm for lease CBRE (Mulgrave) and Colliers International Melbourne East.