The latest research from Melbourne Cityscope shows that commercial property sales value has increased in the past three months. 

Sales recorded in the quarter ending September 2018 totalled $542.8 million, an increase from the $457.3 million in sales recorded in the three months to June 2018 and from the $426.1 million recorded in the three months to March 2018.

This data brings the 12-month total to $2.365 billion from 247 sales, a decrease compared with the previous 12-month total of $3.523 billion from 283 sales. 

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

CoreLogic Melbourne Cityscope Sales Grid

 

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

  • Reserve Bank Building at 56-64 Collins Street, Melbourne, a 15-storey office building with a two-level basement car park, with a net lettable area of 12,000 sqm, which sold for $160 million through JLL;
  • The Royal Mint Centre at 383 La Trobe Street, Melbourne, a 529-space, seven-level car park topped by five floors of B-grade offices with a net lettable area of 9,679 sqm, which sold for $122 million; and 
  • 52 Collins at 52-54 Collins Street, Melbourne, an 11-storey office complex retaining the facade and the first 10 metres of the three-storey former Melville House including its marble entrance halls and basement, with a net lettable area of 3,500 sqm, which sold for $70 million.

 

CoreLogic Melbourne Cityscope Sales Chart

 

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

  • 189-191 Bourke Street, Melbourne, a three-storey brick building with a building area of 590 sqm with two shopfronts to Bourke Street, is for sale through Colliers International Melbourne;
  • Centenary Hall at 104 Exhibition Street, Melbourne, a rendered brick building of six-storeys with an Art Deco facade, a first-floor meeting hall and a basement, with a net lettable area of 1,800 sqm, is for sale through Colliers International Melbourne; and 
  • 80 Collins Street, Melbourne, a 52-storey office tower with a 220-space basement car park and a net lettable area of 50,600 sqm, is for sale through JLL and Savills.

 

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

  • 456 Lonsdale Street, Melbourne, a 15-level office block with two levels of basement car parking for 23 vehicles and net lettable area of 8,226 sqm, has office space ranging from 670 to 2,680 sqm for lease through Colliers International Melbourne and Cushman & Wakefield; 
  • 414 La Trobe Street, Melbourne, an 18-level building comprising 14 office levels, three levels of above ground car parking and a ground level foyer featuring a Victorian-style facade and including 81 car spaces, has office space ranging from 602 to 2,754 sqm for lease through Colliers International Melbourne; and
  • 202-204 Bourke Street, Melbourne, a five-storey brick building which has retail space of 400 sqm available through Knight Frank Melbourne.