The latest research from Gold Coast Cityscope shows property sale figures significantly decreased in the past three months. Sales recorded in the three months to late June 2018 recorded 41 sales for a total of $37.6 million. Of this, $700,000 was for commercial, $9.6 million was for commercial strata, $7.3 million was for retail, $6.4 million was for retail strata and $13.6 million was for other.
In comparison, the three months to late March 2018 recorded 57 sales for a total of $127.3 million. Of this, $21.7 million was for commercial, $6.8 million was for commercial strata, $8 million was for retail, $15.8 million was for retail strata and $75 million was for other.
The latest data raises the 12 month total to over $439.8 million, over $131 million more than the previous 12 month period.
The table below shows sales recorded for the past eight updates of Gold Coast Cityscope.
The most significant sales recorded this quarter together totalled over $15 million.
- Southport Chambers on Nerang Street in Southport was bought for $6.973 million (td 05.04.2018) by Easy Enterprise Pty Ltd. The sale represented an initial yield of 7.54% on a passing income of $525,711 (net). Southport Chambers is a three-storey office building comprised of three separate strata titled units, which together total 2,148 sqm, and basement car parking for 25 vehicles. The sale was negotiated by James Crawford of Colliers International Gold Coast.
- A single-storey retail building at 75 Scarborough Street, Southport has been purchased for $6.25 million (td 22.03.2018) by 75 Scarborough Street Southport Pty Ltd. Elizabeth Hoad of Hoad Commercial negotiated the sale of the 883 sqm vacant building, which Chemist Warehouse plan to occupy.
- A 2,300 sqm vacant block of land in Robina has been sold for $2.13 million (td 06.04.2018) to Peter Terry Investments Pty Limited. The sale of the land, which is situated on the corner of Promethean Way and Centreline Place, was negotiated by Geoff Lamb of Colliers International.
Properties currently listed for sale include:
- Unit 102 and Unit 103, Pivotal Point, 2-14 Nerang Street, Southport – two ground floor retail/commercial units fronting Nerang Street (237 sqm and 231 sqm respectively). For sale together, by negotiation, with a combined asking price of $3.29 million; agent, Astras and Burcul Estate Agents (Boris Burcul).
- Unit 12 and Unit 13, BreakFree Cosmopolitan, 3142 Surfers Paradise Boulevard, Surfers Paradise – two ground floor retail units (65 sqm and 445 sqm respectively). Scheduled for auction 30 June 2018. The units were advertised with a net operating income of $265,571 per annum; agent, Ray White Commercial GC South (Brad Duncalfe).
- Unit 39, 46 Cavill Avenue, Surfers Paradise – a 135 sqm office on the fourth floor. Scheduled for auction on 12 July 2018; agent, Ray White Commercial Southport (Ryan Langham).
Properties currently under contract (conditionally or unconditionally) include:
- Easy T Centre (stage 1), Easy T Centre stage 2 and Easy T Medical – a retail and medical complex in Robina on the corner of Christine Avenue and Scottsdale Drive. Under contract unconditionally for $35.8 million; agents, Knight Frank Gold Coast (James Branch and Mark Witheriff) and CBRE Brisbane (Michael Hedger and Joe Tynan).
- 140 Bundall Road, Bundall – a 3,143 sqm, six-storey office building with car parking for 71 vehicles. Under conditional contract; agent, Knight Frank Gold Coast (James Branch and Mark Witheriff).
- 6 Sixth Avenue, Palm Beach – a single-storey office building with two suites. Under contract with settlement expected 5 July 2018; agent, Ray White Commercial GC South (Greg Watson).
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe