The latest research from Eastern Melbourne Cityscope shows property sales have increased in the past three months in total sales value.
Sales recorded in the quarter ending July 2019 totalled $149.7 million from 26 sales, compared to the $111 million from 18 sales recorded in the three months to April 2019.
This data brings the 12-month total to $455.4 million, a decrease from the $673.5 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 July 2019 update of Eastern Melbourne Cityscope include:
- 347-351 Burwood Highway, Forest Hill
Two office buildings, 347 Burwood Highway, a two-storey commercial building completed in 1996 and 351 Burwood Highway, a three-storey commercial building, completed in 1998. The office area of the two buildings totals 10,692 sqm and there is a 3-level car park building to the rear, completed early 2014. The property was sold for $45.85 million through Colliers International - Melbourne East;
- 19-23 Prospect Street, Box Hill
A 4,275 sqm office building of five levels including two levels of basement parking for 152 cars, completed 1988 and fully refurbished in 2003, which was sold for $20.76 million through GormanKelly and Colliers International and
- Summit House, at 90-96 Tram Road, Doncaster
A 4-level office building completed in 1985 with a net lettable area of 3,495 sqm and parking on the ground floor for 64 cars and first floor for 39 cars, which was sold for $20 million through CBRE Melbourne. The sale represented an initial yield of 4.40% on passing income of $880,000.
Properties listed as for sale in the July 2019 update of Eastern Melbourne Cityscope include:
- 5-7 Guest Street, Hawthorn
A two-storey office building divided into two self-contained halves with some ground-floor parking and a building area of 865 sqm, which is for sale through Savills and GormanKelly;
- Unit 9, Adamco Business Park Monash, 2-4 Sarton Road, Clayton
A 2-storey office with attached high clearance warehouse space and a building area of 416 sqm, which is for sale through CVA Property Consultants and
- Unit 204 of North Place
A commercial unit with 2 car parks and unit 206 of North Place , a commercial unit, both part of the Toorak Corporate Business Centre, 19-33 Milton Parade, Malvern, which are for sale through GormanKelly.
Leasing opportunities in the July 2019 update of Eastern Melbourne Cityscope include:
- 200 Victoria Parade, East Melbourne
Currently comprises two buildings, an office building of 9 levels including two levels of basement parking for 101 cars, and a ground-floor retail showroom, which was built in 1984, has office space of 2,100 to 25,250 sqm in a future building available for pre-lease through Colliers International;
- Building 1 in Brandon Office Park, 530-540 Springvale Road, Glen Waverley
A 2-storey building to the north-west of the property with 60 open air car spaces, has office space of 1,752 sqm available through Knight Frank and
- 545 Blackburn Road, Mount Waverley
A five-storey office building with a cafe on ground floor, 17 staff showers, bicycle racks, rooftop recreation area and basement parking for 83 cars, which has office space of 320 to 4,950 sqm available through Colliers International - Melbourne East.