The latest research from Richmond Cityscope shows property sales value has decreased significantly in the past three months.
Sales recorded in the quarter to February 2019 totalled $18.7 million, compared to the $95.3 million recorded in the three months to November 2018 and the $224.2 million recorded in the three months to August 2018.
This data brings the 12-month total to $373.8 million, an increase from the $207.1 million recorded for the same time last year.
The table below shows sales recorded for the past eight updates of Richmond Cityscope.
Recent standout sales in Richmond in February 2019 include:
- 501 Church Street, Richmond, a two-storey office/showroom building completed in 2002 with retail space on the ground level and undercover parking for 12 cars, which was sold for $7 million; and
- 122-124 Balmain Street, Cremorne, a two-storey office building with a showroom to the street and parking for up to eight cars at the rear of the ground floor, which was sold for over $3.942 million.
Properties for sale in Richmond in February 2019 include:
- Wellesley House at 126 Wellington Parade, East Melbourne, a 7-storey office building with three shops at street level, parking for 30 cars to the rear and a single-storey brick garage. The property provides 4,083 sqm building area on a site of 1,141 sqm, which is for sale through CBRE Melbourne; and
- 363-365 Bridge Road, Richmond, a single-level brick retail building on a site of 274 sqm, which is for sale through TCI Property Consultants;
Significant leasing opportunities in Richmond in February 2019:
- Botanicca Nine development at 588A Swan Street, Burnley, to be a 5-level A-grade office building with floor plates up to 1,500 sqm, which has office space ranging from 1,275 sqm to 7,175 sqm in the development for pre-lease through JLL Metro Market, JLL Melbourne, Knight Frank Melbourne and Knight Frank Eastern Office;
- 594-600 Church Street, Cremorne, a development to be an 8-storey building plus three basement levels and a rooftop terrace, which has office space ranging from 537 sqm to 5,793 sqm for pre-lease through Colliers International – Melbourne East and Cushman & Wakefield Melbourne; and
- Building 10 at 658 Church Street, Cremorne, a 6-level building including a two-level 278-space basement car park, completed 2002, which has office space ranging from 771 sqm to 4,257 sqm available through JLL Metro Market and Colliers International – Melbourne East.