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.
 

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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.

 

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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.