The latest research from Richmond Cityscope shows property sales value has decreased in the past three months.

Sales recorded in the quarter to May 2019 totalled $13.9 million, compared to the $18.7 million recorded in the three months to February 2019 and the $95.3 million recorded in the three months to November 2018.

This data brings the 12-month total to $352.1 million, an increase from the $217.4 million recorded for the same time last year.

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

Pulse - BRSalesGrid_1.gif

 

Recent standout sales in Richmond in May 2019 include:

  • 487-491 Swan Street, Richmond
    A strata building of 2 and 3-storey with a showroom/office on the ground floor and offices on upper levels with a building area of 754 sqm and 12 car spaces, which was sold for $5.4 million. The sale represented an initial yield of 3.91% on a passing income of $211,150 (net); and
  • 19 David Street, Richmond
    A single-storey brick industrial building with a building area of 433 sqm, which was sold for $5 million.

 

Pulse - BRSalesChart_1.gif

 

 

Properties for sale in Richmond in May 2019 include:

  • 491 Church Street, Richmond
    A two level brick showroom building, redeveloped in 2006, with a building area of 260 sqm. There is parking for one car and access to the rear lane, which is for sale through TeskaCarson;
  • 516-524 Bridge Road, Richmond
    A two-level glass-fronted retail and office building, with a new complex constructed to Bridge Road, incorporated with a two-level brick warehouse building to the rear, which is for sale through Allard & Shelton; and
  • 359 Bridge Road, Richmond
    A single-level brick retail building with a building area of 87 sqm and on a site of 145 sqm, which is for sale through TCI Property Consultants.


Significant leasing opportunities in Richmond in May 2019:

  • Yarra Bank Offices at 678 Victoria Street, Richmond
    A four-storey office building plus five levels of basement parking for 480 cars, which has office space ranging from 250 sqm to 2,166 sqm available through JLL Metro Market and Colliers International Melbourne CBD;
  • 475 Church Street, Richmond
    A single-level brick former warehouse building converted to a retail showroom in 2006, which has showroom and retail space ranging from 475 to 1,1118 sqm available through Morley Commercial; and
  • Pelaco at 21-31 Goodwood Street, Richmond
    An office complex comprising Building 1, a 4 and 5-storey older style building to the rear with on grade parking and Building 2, a 3-storey building with basement parking, lift access and landscaped gardens, Building 3, an office extension to the eastern section of the site, which has office space ranging from 800 sqm to 1,186 sqm available through Colliers International Melbourne CBD and Tyas & Associates.