The latest research from Richmond Cityscope shows property sales have significantly increased in the past three months. Sales recorded in the quarter ending August 2016 totalled $95.1 million, an increase from both the $47.6 million recorded in the three months to May 2016 and from the $33 million recorded in the three months to February 2016. This data brings the 12 month total to $230.1 million, an increase from the $173.6 million recorded for the same time last year.

The data for this update of Richmond includes sales from the past two years in the additional 17 maps that have been added to the coverage area.

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

Pulse - BRSalesGrid

Notable sales in the August 2016 update of Richmond Cityscope include:

  • 658 Church Street, Building 10, Richmond, a six-storey office building including two-level 278-space basement car parking, which was sold for $45.5 million, the sale represented an initial yield of 7.41% on a passing income of $3,373 (net);
  • 370-374 Swan Street, Richmond, a two-storey commercial building with a showroom on the ground floor situated on a 707 sqm site, which was sold for $11.193 million;
  • 1-9 Doonside Street, Richmond, a two-storey brick industrial building with a site area of 2,607 sqm, which was sold for $10.9 million and
  • 94-96 Wellington Parade, East Melbourne, a five-level brick office building with parking for 17 cars situated on a 512 sqm site, which was sold at auction for $9.53 million.

Richmond Cityscope Quarterly Sales

Properties listed as for sale in the August 2016 of Richmond Cityscope include:

  • 340 Bridge Road, Richmond, a two-level brick retail Victorian building with a site area of 179 sqm, which is for sale through TCI Property Consultants;
  • 255-259 Bridge Road, Richmond, a late Victorian two-storey building with stucco facade with a site area of 693 sqm, which is for sale through Steveway Real Estate and Colliers International;
  • 1B Gordon Street, Cremorne, a ground floor office suite of 170 sqm in a three-storey office building, which is for sale through Teska Carson.

Leasing opportunities in the August 2016 update of Richmond Cityscope include:

  • 600 Victoria Street, Richmond, a five-storey office building, part of the Victoria Gardens complex with basement car parking, which has 180 sqm to 2,200 sqm office space available through JLL – Glen Waverley and Colliers International;
  • Abbotsford Office Park at 675 Victoria Street, Abbotsford, a four-storey office building including two levels of car parking for 110 cars, which has 400 sqm to 1,800 sqm office space available through Colliers International;
  • 658 Church Street, Building 1, Richmond, a two-storey commercial and warehouse building, which has 932 sqm to 2,870 sqm office space available through CBRE Melbourne and Colliers International;
  • 73 Bridge Road, Richmond, a two-storey brick retail building with parking for two cars, which has 100 sqm of retail space available through Teska Carson.

Commercial Research