The latest research from Richmond Cityscope shows property sales have increased in the past three months.
Sales recorded in the quarter to February 2020 totalled $221.7 million, a significant increase from the $51.5 million recorded in the three months to November 2019 and from the $17.6 million recorded in the three months to August 2019.
This data brings the 12-month total to $304.6 million, a decrease from the $318.3 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 include:
- Building 10 at 658 Church Street, Cremorne, a six level building with a net lettable area of 7,959 sqm and a two-level 279-space basement car park, completed in 2002, which was bought for $92.525 million;
- 1-9 Gordon Street, Cremorne, currently a single-storey brick commercial building with a corrugated iron lean-to at the eastern end, approved for the development of an 8-storey commercial building including offices and ground floor retail premises and basement car parking for 52 vehicles and 40 bicycle bays, which was bought together with the site at 11 Gordon Street, Cremorne (currently a residential property not covered by Richmond Cityscope) for a total of $50 million via a fund-through transaction and
- Richmond Plaza at 261 Bridge Road, Richmond, a collection of two and three-level older and more recent brick retail and commercial buildings including a supermarket, 24 specialty shops, the Church Street Business Centre, the Richmond Corporate Centre, a gymnasium and a three-level customer car park, which sold in two transactions for a combined total of $59.4 million.
Properties for sale in Richmond in February 2020 include:
- 25 Hoddle Street, Richmond, a two-storey commercial building, on a site of 336 sqm, which is for sale by auction through Cushman & Wakefield Melbourne;
- 358-360 Swan Street, Richmond, a single-storey retail building with a net lettable area of 430 sqm, which is for sale through Fitzroys and
- 436-438 Bridge Road, Richmond, a two-level brick retail building with a retail outlet at street level and two car parking spaces on rear paved land, which is for sale through Ham Kerr Property Balwyn.
Significant leasing opportunities in Richmond in February 2020:
- 43 Elizabeth Street, Richmond, an eight-storey office building with 346 undercover parking spaces on three levels, completed in 2009, which has office space of 1,871 smq on levels 5 and 6 available through CBRE Melbourne and Cushman & Wakefield Melbourne;
- 678 Victoria Street, Richmond, Yarra Bank Office, a four storey office building plus five levels of basement parking for 480 cars, completed in 2000, which has office space ranging from 250 to 2,166 sqm through JLL Metro Market and Colliers International Melbourne CBD and
- 313 Bridge Road, Richmond, a brick warehouse building, two levels to Bridge Road with a mezzanine section to the middle and a high-stud store room and customer parcel pick-up at the rear, which has showroom space of 700 sqm available through CBRE Melbourne.