The latest research from Southbank Cityscope shows property sales value have significantly decreased in the past three months. Sales recorded in the quarter ending August 2017 totalled $175.5 million, a decrease from the $605.3 million recorded in the three months to May 2017 and also a decrease from the $758 million recorded in the three months to February 2017.
This data brings the 12 month total to $2.149 billion, an increase from the $1.958 billion recorded the same time last year.
The table below shows sales recorded for the past eight updates of Southbank Cityscope.
Notable sales in the August 2017 update of Southbank Cityscope include:
- 268 Sturt Street, Southbank, a 4,176-sqm, vacant piece of land being used as a car park to the southern part of the property, which sold for $50 million through Colliers International Melbourne;
- Sero, at 175 Sturt Street, Southbank, a two-storey rendered brick building of 2,434 sqm which includes a 1,094 sqm ground-floor office-showroom, 1,340 sqm of first-floor office space and parking for 31 cars, which sold for $15.5 million; and
- 8-16 Palmerston Crescent, South Melbourne, a two-storey rendered concrete-block building built in 1988 with parking for about twelve cars at the rear of the ground-floor and on paved land to Kings Place, which sold for about $15 million through Colliers International Melbourne.
Properties listed as for sale in August 2017 update of Southbank Cityscope include:
- 102-156 City Road, Southbank, a BMW sales showroom comprising a high one-and two-storey concrete, metal and glass building with a four-level car park at the rear, for sale through CBRE City Sales Melbourne;
- 33 Park Street, South Melbourne, a three-storey brick and concrete office building, constructed in 1971 with a ten-space car park to the rear, for sale through Jellis Craig and
- 200-204 Wells Street, South Melbourne, a single-storey brick section to Park Street and a two-storey section with rear ground-floor parking for about 20 cars and first-floor offices to Wells Street, for sale by expressions of interest closing August 24, 2017 through Lemon Baxter.
Leasing opportunities listed in the August 2017 update of Southbank Cityscope include:
- 2 Southbank Boulevard, Southbank, the commercial tower of Freshwater Place, 37 storeys with a net lettable area of 55,769 sqm and parking for 544 cars has office space ranging from 276 to 23,000 sqm for lease through CBRE Melbourne and Colliers International Melbourne;
- 412-430 City Road, South Melbourne, a high single-storey brick and corrugated iron factory-warehouse building, including an office and a small garden, has showroom and warehouse space of 2,626 sqm for lease through Lemon Baxter and Knight Frank Melbourne and
- 115-125 Whiteman Street, South Melbourne, a two-storey brick office-warehouse building, constructed in 1971 with a net lettable area about 1,500 sqm, has office and warehouse space of 300 to 750 sqm for lease through Lemon Baxter and Knight Frank Melbourne.
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe