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 October 2019 totalled $184.6 million from 35 sales, compared to the $149.7 million from 26 sales recorded in the three months to July 2019.
This data brings the 12-month total to $517.2 million, a decrease from the $568.7 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 October 2019 update of Eastern Melbourne Cityscope include:
- The Atrium at 2 Luton Lane, Hawthorn
A four-level building designed around a central atrium with glazed lifts, three office floors plus basement parking, a building area of 5,661 sqm and 182 car spaces, was sold for $55 million through Gorman Commercial and CBRE Melbourne. The sale represented an initial yield of 5.27% on a passing income of $2,896,000 (net);
- 4 Wesley Court, Burwood East, one of 16 buildings in the Tally Ho Business Park
A building of 3 levels plus lower ground level and a building area of 9,597 sqm, plus a 4-level car park at the eastern end of the property, which sold for $51 million and
- 3-7 Hamilton Street, Mont Albert
A 7-level building with three floors of offices above a four-level basement car park with retail areas on the ground floor, a total building area of 3,775 sqm and a total of 115 car spaces, including some at the rear of the ground floor, which was sold for $18 million.
Properties listed as for sale in the October 2019 update of Eastern Melbourne Cityscope include:
- Waverley Square at 541 Blackburn Road, Mount Waverley
An office building of 4 storeys plus lower ground parking with more parking on adjacent paved land (158 cars total), a building area of 3,718 sqm and site area of 6,210 sqm, which is for sale through CBRE - Melbourne and Colliers International - Melbourne East;
- 362 Wellington Road, Mulgrave
A two-storey office building, part of Mulgrave Business Park, with a building area of 3,783 sqm and parking for 218 vehicles, which is for sale through Savills Melbourne and
- 2-4 Whitehorse Road, Blackburn
A concrete office building of three levels including a basement car park with 16 spaces, a building area of 806 sqm and site area of 507 sqm, which is to be auctioned 16 November 2019 through Zed Real Estate - Moorabbin and MFS Estate - St Albans.
Leasing opportunities in the October 2019 update of Eastern Melbourne Cityscope include:
- 347-351 Burwood Highway, Forest Hill
Two office buildings comprising 347 Burwood Highway, a two-storey commercial building, completed 1996 and 351 Burwood Highway, a three-storey commercial building, completed 1998; refurbished with new foyer, new lift, new outdoor BBQ area in 2018 and a 3-level car park building to the rear, has office space ranging from 420 to 3,500 sqm through JLL - Glen Waverley and CBRE - Melbourne;
- Axxess Corporate Park, 170 Forster Road, Mount Waverley
A major office/industrial park of 85,300 sqm comprising twelve two and three-storey office buildings containing about 116 two-storey office/industrial units and parking for 1,240 vehicles, has office space ranging from 452 to 4,500 sqm available through Colliers International - Melbourne East and Dexus Property Group and
- ACI Building, 36 Burwood Road, Hawthorn
A four-level brick office building with parking on the lower ground and basement levels on a site area of 1,206 sqm, which has office space ranging from 730 to 1,505 sqm available through Colliers International - Melbourne East.