The latest research from Melbourne Cityscope shows that commercial property sales have increased in the past three months. Sales recorded in the quarter ending June 2018 totalled $464.4 million, an increase from the $407.6 million in sales recorded in the three months to March 2018 and a decrease from the $938.7 million recorded in the three months to December 2017.

This data brings the 12-month total to $3.082 billion from 266 sales, a decrease compared with the previous 12-month total of $3.299 billion from 276 sales. 

The table below shows sales recorded for the past eight updates of Melbourne Cityscope.

Melbourne Cityscope quarterly sales

The most notable sales recorded for the June 2018 update of Melbourne Cityscope include:

  • 277 William Street, Melbourne, an office building of 12 levels plus ground floor retail and basement parking for 32 cars with the interior  refurbished and a new entry ramp added in 1993, plus a two-level addition in 2004 with a net lettable area 12,071 sqm, which sold for $93.88 million through CBRE and JLL;
  • A 546-space, 10-level car park building completed in 1998 at 32 Flinders Street, Melbourne on a 2,087 sqm site, which sold for $87.1 million through CBRE and 
  • 601 Bourke Street, Melbourne, an 11-storey office block with two ground-floor showrooms and a 26-space basement car park with a building area of 8,082 sqm, which sold for $72 million through CBRE.

 

Melbourne Cityscope quarterly sales graph

Properties for sale in the area covered by Melbourne Cityscope in June 2018 include: 

  • 274-278 Bourke Street, Melbourne, a three-level rendered brick building with a basement, a three part row with a shop in each section built in 1859, the oldest building fronting Bourke Street Mall with a gross floor area 874 sqm, is for sale through Colliers International;
  • 22-26 Corrs Lane, Melbourne, a four-level brick building including a basement, constructed as a three-level warehouse in 1929, with the top floor added in 1955 and building area 962 sqm, is for sale through Colliers International and Savills and
  • The whole of levels 4 and 5 known as Unit 5 and Unit 6 at Mering House, 276-278 Collins Street, Melbourne, are for sale together through Colliers International.

Leasing opportunities in the area covered by Melbourne Cityscope in June 2018 include: 

  • 485 La Trobe Street, Melbourne, comprising of North Tower to La Trobe Street of 10-levels completed in mid-1988 with a net lettable area of 12,229 sqm and South Tower to Little Lonsdale Street of 21 levels, completed in 1990 with 21,816 sqm of office space and linked by a 6-storey glass atrium and lobby, refurbished in 2018, has office space of 440 to 3,168 sqm for lease through JLL and Savills; 
  • 452 Flinders Street (also known as Riverside Plaza), Melbourne, a 19-storey office building, completed March 1994, has net lettable area of 38,349 sqm, including an auditorium on the mezzanine floor plus basement parking for 294 cars, has office space ranging from 1,103 to 6,493 sqm for lease through Colliers International and Knight Frank;  
  • 15W at 15 William Street, Melbourne, an A-grade 20-level office building consisting of a southern section completed in 1967 with a matching northern extension added in 1973-74 and a two-storey retail and car park extension with 300 car spaces to Flinders Street completed in 2003, has office space ranging from 490 to 12,000 sqm available through CBRE and JLL and 
  • Collins Arch development at 433-455 Collins Street, Melbourne, to be a twin-tower, mixed-use development with a 5-star hotel with 294 rooms known as the W Hotel and 49,000 sqm of office space and 202 apartments, has office space ranging from 750 to 9,410 sqm available for pre-lease through Colliers International.  
     

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