The latest research from Eastern Melbourne Cityscope shows property sales have decreased in the past three months in total sale value and quantity.
Sales recorded in the quarter ending July 2020 totalled $128 million from 19 sales, compared to the $441 million from 26 sales recorded in the three months to April 2020 (which was mainly due to the large sale at 200 – 216 Victoria Parade, East Melbourne).
This data brings the 12-month total to $814.1 million, a large increase from the $458.9 million recorded over the same period of the previous year.
The table below shows sales recorded for the past eight updates of Eastern Melbourne Cityscope.
Notable sales in the July 2020 update of Eastern Melbourne Cityscope include:
- 51 Langridge Street, Collingwood, a 3,083 sqm, 12-storey office building comprising 10 floors of office space, ground level retail space and communal rooftop with three levels of basement parking for 20 vehicles and 42 bicycles, which was sold for $31.6 million through CBRE Melbourne;
- Albert Street Medical Centre, 372-376 Albert Street, East Melbourne, a 9-level office building with partial ninth and tenth levels, built in 1963 and extensively refurbished in 2004 with parking for 37 cars on the lower ground, ground and first floors, was sold for approximately $30 million on a 4.5% yield through MMJ Real Estate and
- 745 Springvale Road, Mulgrave a 2-storey office building with high clearance warehouse space to the rear and more than 300 parking spaces on paved land on three sides of the building, which sold for $22 million.
Properties listed as for sale in the July 2020 update of Eastern Melbourne Cityscope include:
- General Practice House at 1186 Toorak Road, Camberwell, a three-level office building of 883 sqm including lower-ground parking accessed from the rear on a block of 737 sqm, which is for sale through Fitzroys - Melbourne;
- 1E Marine Parade, Abbotsford, an 854 sqm, three-level office building including ground-floor warehouse space, and a basement car park for 14 cars, which is for sale through CVA Property Consultants and
- 14 Church Street, Hawthorn, a 2-storey building modernized in 2003 with 725 sqm of office space and 554 sqm of warehouse space and space for 14 car parks, which is for sale through Teska Carson Richmond.
Leasing opportunities in the July 2020 update of Eastern Melbourne Cityscope include:
- John Holland House at 70 Trenerry Crescent, Abbotsford, comprising of four buildings of two and three-storeys around a courtyard and 195 car spaces, which has office space ranging from 300 to 6,400 sqm available through JLL Melbourne and Colliers International Melbourne;
- Part of Tally Ho Business Park, at 29 Lakeside Drive, Burwood East, a building of 4 levels with parking for more than 60 cars on the lower ground level and on adjacent paved land, three office floors of about 700 sqm each, and 876 sqm of warehouse space, which has office space ranging from 678 to 2,090 sqm on whole ground and levels 1 and 2 for available through Knight Frank Glen Waverley, JLL Glen Waverley and CBRE Mulgrave and
- Part of the Satellite Corporate Centre, 352 Wellington Road, Mulgrave, a 4-level building, completed in 2002 with two levels of car parking topped by two levels of offices, which has the whole building of 2,652 sqm available through Colliers International Melbourne East, CBRE Melbourne and Stockland Commercial Property.