The latest research from Southbank Cityscope shows property sales value have significantly increased in the past three months. Sales recorded in the quarter ending November 2017 totalled $305.9 million, an increase from the $175.5 million recorded in the three months to August 2017 but a decrease from the $605.4 million recorded in the three months to May 2017.
This data brings the 12 month total to $1.844 billion, a decrease from the $2.316 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 November 2017 update of Southbank Cityscope include:
- 200 Wells Street, South Melbourne, 4,176-sqm,consisting of a single-storey brick section to Park Street and to Wells Street, a two-storey section with rear ground-floor parking for about 20 cars and first-floor offices on a 1,518 sqm site, which was sold as a development site for $23.4 million through Lemon Baxter;
- 33 Park Street, South Melbourne, a three-storey brick and concrete office building with a net lettable area of 746 sqm, constructed in 1971 with rear parking for 10 cars on a 405 sqm site, which sold as a development site for $6.075 million through Jellis Craig Fitzroy and
- 219-221 Normanby Road, South Melbourne, a small brick office building and workshop in a paved yard, built 1983 on a 1,252 sqm site, which sold as a development site for $6.010 million through Lemon Baxter.
Properties listed as for sale in November 2017 update of Southbank Cityscope include:
- 63-65 City Road, Southbank, Photography Studies College, built in 1900 as a two-storey brick warehouse/factory with an American Romanesque facade for sale with property at 67-69 City Road, Southbank, a three-storey reinforced concrete showroom, office and warehouse building; built in 1926 and refurbished circa 1972 and parking for one car at the rear of the ground floor, for sale as a development site by expressions of interest closing 12 December 2017 through Allard Shelton;
- Mirvac Building, at 85 Coventry Street, Southbank, a three-storey concrete office building with balconies to the Dodds Street corner and two levels of under-cover parking for 39 cars built in 1990 with a net lettable area 2,006 sqm, for sale as a development site by expressions of interest closing 30 November 2017 through Colliers International and
- Russell & Russell Building at 11-13 Hancock Street, a single-storey brick workshop constructed in 1940 which occupies the whole site of 168 sqm for sale with property at 42-48 Moray Street, Southbank, a two-storey brick building with ground-floor showroom and workshops and first-floor offices, constructed 1961 on a 973 sqm site, for sale as a development site by international expressions of interest closing 22 November, 2017 through Colliers International and ICR Property Group.
Leasing opportunities listed in the November 2017 update of Southbank Cityscope include:
- 77 Southbank Boulevard, Southbank, completed early 1991, a six-storey concrete office building with a basement parking for 77 cars, 11,679 sqm of upper-floor offices, two ground-floor showrooms of 978 sqm and 753 sqm and a rehearsal space known as the Joan Hammond Hall of 707 sqm; has office space ranging from 1,300 to 6,100 sqm for lease through Colliers International Melbourne;
- 210 Kings Way, South Melbourne, a five-storey brick and concrete office building with two single-storey extensions to Kings Way and one to Tichborne Place, constructed 1973, and refurbished in 1998 and has parking for total of 56 cars; has office space ranging from 137 to 2,500 sqm for lease through Lemon Baxter and
- 2 Southbank Boulevard, Southbank, the commercial tower of Freshwater Place, 37 storeys completed in June 2005 with net lettable area 55,769 sqm and parking for 544 cars, has office space of 361 to 12,000 sqm for lease through Colliers International and CBRE.
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