The latest research from Perth Cityscope shows property sales have significantly increased in the past three months.
Sales recorded in the quarter to March 2018 totalled $192.9 million, a large increase from the December 2017 quarter which totalled $38.7 million but a decrease from the $579.9 million recorded in the three months to September 2017.
This data brings the 12-month total to $983 million, a large increase from the $691.5 million recorded the same time last year.
The table below shows sales recorded for the past eight updates of Perth Cityscope.
Notable sales in the March 2018 update of Perth Cityscope include:
- 45 St Georges Terrace, Perth, an office building comprising nine levels of office space, two basement levels for 34 vehicles and two levels of plant and equipment, built in 1972 and providing a net lettable area of 10,010 sqm, which was sold for close to $53.57 million;
- 55 St Georges Terrace, Perth, formerly known as The Colonial Building, an 11-storey office building, 50 metres in height, built in 1982 with a net lettable area of 8,585 sqm, which was sold for about $44 million; and
- 6-8 Bennett Street, East Perth, comprising two office building of nine and four storeys respectively, providing a combined building area of 10,219 sqm and parking for 264 cars, which was sold for $43.5 million.
Properties listed for sale in the March 2018 update of Perth Cityscope include:
- 38-40 Richardson Street, West Perth, a four-storey office building with ground level parking for 32 vehicles, which is for sale closing 29 March 2018 through Acton Commercial;
- 12 Douro Place, West Perth, a single-storey former house with space for three cars in an unpaved rear yard, on a site of 309 sqm, which is for sale by offers to purchase closing 15 March 2018 through Raine & Horne Commercial Wembley; and
- The whole building of the Baileys Serviced Apartments at 636-65 Bennett Street, East Perth, an eight-storey mixed-use building with 35 residential apartments and one retail unit of 111 sqm on the ground floor, which is for sale through Century 21 Centex Commercial.
Significant leasing opportunities in the March 2018 update of Perth Cityscope include:
- 109 St Georges Terrace, Perth, formerly known as Challenge Bank Centre, a 20-storey office tower with a net lettable area of 13,890 sqm, which has refurbished office space ranging from 150 sqm to 10,713 sqm available through CBRE and JLL Perth;
- 441 Murray Street, Perth, an 8-storey office building with a two-storey arm to the front and basement parking for 39 cars, which has office space ranging from 400 to 5,848 sqm available through CBRE and JLL Perth; and
- BankWest Place at 300 Murray Street, Perth, an office tower which comprises an eastern section of 13 levels and a western section of 21 levels. The building has office space of up to 5,241 sqm available through CBRE and JLL Perth.
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