The latest research from Richmond Cityscope shows that both the property sales number and value have increased in the past three months.

Sales recorded in the quarter to November 2021 totaled $165 million with 16 sales, an increase from the $43.5 million recorded in the three months to August 2021 and from the $36.2 million recorded in the three months to May 2021.

This data brings the 12-month total to $274.4 million from 39 sales, a slight decrease from the $280.3 million from 36 sales 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:

  • 476-482 Swan Street, Richmond, two single-storey brick industrial buildings separated by two driveways leading to a rear 2-level corrugated iron building on a 3,614 sqm block, which was bought as a development site with properties at 462 to 470 Swan Street, Richmond (not covered by Richmond Cityscope) for a total of more than $102.5 million;
  • 471-473 Swan Street, Richmond, a 2-storey office and warehouse building, with four street frontages and parking for 52 cars on the ground floor and paved land to the Belgravia Street. The property, with a total building area 2,203 sqm on a 3,025 sqm block, was bought as a development site together with property at 10 Belgravia Street, Richmond (not covered by Richmond Cityscope) for a total of $27 million and
  • 335-341 Bridge Road, Richmond, a two-storey brick building with two shops at street level and offices above. There is a single storey section and carport to the rear with parking for 2 cars. The property, with building are of 685 sqm on a 693 sqm block, was bought for $8.3 million through Teska Carson.

Properties for sale in Richmond in November 2021 include:

  • 150-152 Bridge Road, Richmond, a single-level brick retail building comprising two shops to Bridge Road; a large area of paved land to the south, bordered by Wustemann Place to the west and Allowah Terrace to the east, used as a 46 space car parking area and at 1 Allowah Terrace, a two-level brick office building. Built circa 1903, for sale as a development site together with a strata property at 195 Lennox Street (not covered by Richmond Cityscope) and a combined site are of 3,538 sqm through CBRE – Melbourne and Knight Frank - Melbourne;
  • 449 Swan Street, Richmond, a two-storey commercial building of 372 sqm on a 271 sqm block, which is for sale through Morley Commercial and
  • 474 Church Street, Richmond, a two-level brick retail building to Church Street with a two-level addition to the rear. The property, with a building area 234 sqm, has parking for 1 car in a rear yard, which is for sale through Morley Commercial.

Significant leasing opportunities in Richmond in November 2021:

  • Building 8 at 584 Swan Street, Burnley, part of the Botanicca Corporate Park, a five-storey commercial building of 8,331 sqm, with ground floor retail and two levels of basement parking for 209 cars, completed in 2013, which has office space of 1,932 on level 3 and 1,580 sqm on level 4 available for lease through Colliers International – Melbourne East and JLL Melbourne;
  • Yarra Bank Offices at 678 Victoria Street, Richmond, four storeys plus five levels of basement parking for 480 cars, completed 2000 with a building area of 12,000 sqm, which has office space ranging from 550 to 2,575 sqm available for lease through Colliers International – Melbourne East and JLL Metro Market and
  • 543 Bridge Road, Richmond, a 6-level retail and office building, comprising 3,500 sqm of office space in the three uppermost levels, 900 sqm of retail space on the ground level and two basement levels of parking with space for 91 cars, which has office space of 1,122 sqm available for lease through Colliers International Melbourne East.