The latest research from Perth Cityscope shows property sales have decreased in the past three months. Sales recorded in the quarter to March 2017 totalled $43.7 million, a large decrease from the December 2016 quarter which totalled $251.1 million, and from the $157.2 million recorded in the three months to September 2016. This data brings the 12-month total to $691.5 million, a decrease from the $1.604 billion 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 2017 update of Perth Cityscope include:

  • Oracle, 60-66 Kings Park Road, West Perth, a five-storey office building with basement parking, a tennis court to the western side, with further parking underneath and a net lettable area 4,692 sqm, which sold for $16.1 million;
  • SSTUWA Building at 150-152 Adelaide Terrace, Perth, four- storeys of offices with a lane underneath and a net lettable area of 2,425 sqm and 20 Bennett Street, a paved parking lot with space for about 17 cars, which sold together for $15.5 million;
  • 15 Lawrence Avenue, West Perth, a single-storey former house, vacant land and parking for 8 cars which sold for $2.15 million.

Perth Cityscope Quarterly Sales

Properties listed for sale in the March 2017 update of Perth Cityscope include:

  • 641-643 Wellington Street, Perth, a five-storey office building, completed in 1982, with parking for 25 cars to the rear and a net lettable area of 2,752 sqm for sale through Knight Frank;
  • 109 St Georges Terrace, Perth, a 20-storey office tower; opened in 1972 with a net lettable area of 13,891 sqm available for sale by expressions of interest closing March 29, 2017 through Savills and Knight Frank and
  • 20 Queen Street, Perth, a warehouse building of two- storeys plus basement, built in 1900 and for sale with an asking price of $5.5 million through Lease Equity.

Significant leasing opportunities in the March 2017 update of Perth Cityscope include:

  • Kings Square 3, 10 Telethon Avenue, Perth, a nine-level office building with basement parking, ground level retail and end-of-trip facilities, which has office space of  500 to 5,718 sqm for lease through CBRE;
  • State One House, 172 St Georges Terrace, Perth, a 15-storey office building and a single-storey annexe comprising three shops, with parking to the rear, which has office space from 114 to 5,131 sqm for lease through Colliers International and
  • 441 Murray Street, Perth an eight-storey office building with a two-storey arm to the front, and basement parking for 39 cars of which the whole building of 5,793 sqm is for lease through JLL Perth.

 

Commercial Research