The latest research from Richmond Cityscope shows property sales value have slightly increased in the past three months. Sales recorded in the three months to February 2018 totalled $80 million, an increase from the $50.4 million recorded in the three months to November 2017 and the $50.8 million recorded to August 2017.

This data brings the 12-month total to $209.1 million, a decrease from the $332 million recorded for the same time last year.

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

CoreLogic Richmond Cityscope Quarterly Sales

Notable sales in the February 2018 update of Richmond Cityscope include: 

  • 459-463 Church Street, Richmond, a block of 3,068 sqm occupied by several vacant buildings, including a two-level retail/commercial building to Church Street and a single-level brick warehouse to the rear; the former Wright Street, a discontinued road of 398 sqm; and 467-469 Church Street, Richmond, vacant land of 1,850 sqm used for parking around 64 cars, which were sold together as a development site for a total of $51 million;
  • 143-151 Bridge Road, Richmond, a 1,100 sqm concrete and glass-fronted, two and three level retail and office complex, with three shops to Bridge Road and upper level offices and basement parking, which was sold for $14.11 million through CBRE Melbourne and 
  • 427-429 Church Street, Richmond, a 700 sqm two-level besser-brick retail and office building, with separate entry to upper level offices and undercover parking to the rear, which was sold for $5.25 million through Teska Carson Richmond.
CoreLogic Richmond Cityscope Quarterly Sales Graph

Properties listed as for sale in the February 2018 of Richmond Cityscope include:

  • 396 Bridge Road, Richmond, a two-level brick retail building on a 330 sqm block, is for sale through GormanKelly;
  • 364 Bridge Road, Richmond, a two-level brick Victorian building with medical rooms on a 145 sqm block, is for sale with an asking price of $2,200,000 through Lewis Realty and 
  • 594-598 Church Street, Cremorne, presently a single-storey brick industrial building which is for sale via a 'fund through' arrangement in February 2018 at a speculated asking price of $45,000,000 through Colliers International and Dawkins Occhiuto Real Estate. The arrangement would see the prospective owner pay for the construction of and retain ownership of the new future eight-storey building.

Significant leasing opportunities in Richmond in February 2018:

  • 19 William Street, Cremorne, to be a seven-storey commercial building, has office space of 241 to 1,241 sqm in the future development for lease through Colliers International; 
  • Housing Industry House at 70-74 Jolimont Street, East Melbourne, a five-level office building plus ground floor parking for 28 cars has office space of 702 sqm for lease through Lemon Baxter - South Melbourne and Colliers International and 
  • 40 River Boulevard, Richmond, a four-storey office building, part of the Victoria Gardens complex, with three split levels of basement parking for 372 cars, has office space of 1,000 to 3,067 sqm for lease through JLL - Glen Waverley.

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 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