The latest research from Richmond Cityscope shows property sales have decreased in the past three months. Sales recorded in the quarter to May 2018 totalled $40.8 million, a decrease from the $80 million recorded in the three months to February 2018 and from the $50.4 million recorded to November 2017.

This data brings the 12-month total to $224.8 million, a decrease from the $312.1 million recorded for the same time last year.

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

Richmond cityscope quarterly sales

Recent standout sales in Richmond include: 

  • 116-120 Balmain Street, Cremorne, a one and two-storey office building with parking for 26 cars on a 1,441 sqm block and 122-124 Balmain Street, Cremorne, a two-storey office building with a showroom and parking for up to eight cars at the rear on a 307 sqm block, were sold together for $23 million; 
  • 1-9 Gordon Street, Cremorne, a single-storey brick commercial building on an 852 sqm block and 11 Gordon Street, Cremorne, a single-storey weatherboard residence on a 328 sqm block, were sold together for $12 million. 
Richmond cityscope quarterly sales graph

Properties for sale in Richmond in May 2018 include: 

  • 475 Church Street, Richmond, a single-level brick former warehouse building converted to a retail showroom in 2006 with a building area of 1,090 sqm, is for sale through Teska Carson Richmond and Steveway Real Estate; 
  • 242 Bridge Road, Richmond, currently a two-level brick retail building with a single-level brick section to the rear and parking for around 6 cars on a 565 sqm block, is for sale as a development site through Axis Property and 
  • 220 Bridge Road, Richmond, a single-level mid-to-late Victorian terrace on a 135 sqm block, is for sale through Many Lee Real Estate. 

Significant leasing opportunities in Richmond in May 2018:

  • 49-57 Blazey Street, Richmond, a single-storey high-clearance brick industrial building, which has industrial/warehouse space of 870 sqm available through Colliers International Melbourne East; 
  • Jolimont Corporate Centre at 176 Wellington Parade, East Melbourne, a 14-storey office building including a basement parking level with typical floor plate of 575 sqm, which has office space ranging from 231 to 597 sqm available through Colliers International and JLL Glen Waverley and 
  • 449 Punt Road, Cremorne, a six-storey office building plus three levels of basement car parking for 180 cars, which has office space of 691 sqm available through Colliers International. 

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