The latest research from Melbourne Cityscope shows that commercial property sales in the CBD have risen in both number and total sales value. For the three months to September 2016, there were 75 sales at a total value of $1.056 billion, compared to 64 sales at a total value of $505.8 million for the previous quarter.
The yearly figures have fallen considerably, however, with 286 sales at a total value of $3.304 billion for the twelve months to September 2016, compared to 371 sales at a total value of $5.286 billion for the previous year.
The table below shows sales recorded for the past eight updates of Melbourne Cityscope.
Notable sales listed in the September 2016 update of Melbourne Cityscope include:
- Novotel Melbourne on Collins, an eight-storey, 380-room, 4.5-star hotel at 270 Collins Street, Melbourne, which was bought for $237 million;
- Myer Emporium, a department store consisting of a nine-storey main building to Bourke Street and a six-storey extension to Little Bourke Street, at 314-336 Bourke Street, Melbourne, a one-third share of the 299-year leasehold of which was bought for $151.3 million;
- A ten-storey commercial building with parking for about six cars at 395 Collins Street, Melbourne, which was bought for $34 million.
Properties listed as being for sale in the September 2016 update of Melbourne Cityscope include:
- Enterprise House, a 24-storey office building with basement parking for 82 cars, at 555 Collins Street, Melbourne, available through Knight Frank;
- An 11-storey office building with retail on the ground floor and parking for 107 cars, at 440 Elizabeth Street, Melbourne, through Colliers International and TeskaCarson; and
- A three-storey retail/commercial building at 185-187 Lonsdale Street, Melbourne, through Savills and Burgess Rawson.
Leasing opportunities listed in September 2016 update of Melbourne Cityscope include:
- KTS House, a 21-storey office building with five levels of basement parking and retail on the ground floor, at 350 Queen Street, Melbourne, which has office space of up to 7,692 sqm for lease through CBRE and Savills;
- 333 Exhibition Street, Melbourne, an 18-storey building with a 705-space car park, which has office space of up to 6,003 sqm for lease through Colliers International; and
- Collins Place, two 183-metre towers with parking for 620 cars, at 17-65 Collins Street, Melbourne, which has office space of up to 3,393 sqm on levels 31 and 32 for lease through Knight Frank and Colliers International.