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

Sales recorded in the quarter May 2018 totalled $396.4 million, a decrease from the $428.9 million recorded in the three months to February 2018, but an increase from the $305.9 million recorded in the three months to November 2017.

This data brings the 12 month total to $1.309 billion, a decrease from the $2.940 billion recorded the same time last year. 

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

CoreLogic Southbank Cityscope Quarterly Sales

Notable sales in the May 2018 update of Southbank Cityscope include: 

  • Victoria Police Centre Headquarters, Tower 1 of the WTC Wharf complex, at 637 Flinders Street, Docklands, a twin-tower complex with two distinct but inter-connected office buildings sharing three levels of parking on a site area of 4,209 sqm, which was sold for $122 million through Knight Frank Melbourne;
  • 296-306 City Road, Southbank, an older classical revival style two-storey brick building refurbished in 1994, with rear ground-floor parking for about 15 cars with building area about 1,356 sqm, which sold for about $18 million through Gross Waddell and
  • 199-201 Normanby Road, South Melbourne, a single-storey concrete office-showroom, built in 1983 and refurbished in May 1995 with parking for seven cars and building area of 920 sqm, which was sold for about $13.5 million through Colliers International Melbourne.

 

CoreLogic Southbank Cityscope Quarterly Sales Graph

Properties listed as for sale in May 2018 update of Southbank Cityscope include:

  • 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, which was purpose-built in 1990 for its first tenant, the AMP Society with a net lettable area 2,006 sqm, for sale at an asking price of $20 million through Colliers International Melbourne; 
  • 65 Clarke Street, Southbank, a three-storey concrete building, constructed in 1990, and fitted out in1991 at a cost of about $6m with a total building area of 2,871 sqm and car parking for 28 cars comprising 18 undercover, and ten open-air car spaces on a 1,790 sqm site, for sale as a development site through Colliers International Melbourne and
  • Unit 2B, Murphy’s Buildings, 280 City Road, Southbank, two-storeys of 318 sqm with a three-storey extension to the rear at 280 City Road, Southbank, for sale through Rosin Smyth & Partners.  

 
Leasing opportunities listed in the May 2018 update of Southbank Cityscope include: 

  • 2 Southbank Boulevard, Southbank, the commercial tower of Freshwater Place, 37 storeys completed in June 2005, and with 544 car spaces on seven levels above ground, has office space ranging from 361 to 3,612 sqm for lease through Colliers International Melbourne and CBRE Melbourne; 
  • Riverside Quay Building 1, at 1 Southbank Boulevard, Docklands, a ten-level A grade building with basement car parking, ground-floor showroom and offices on the upper floors, opened in September 1988 and refurbished 2001, has office space of 1,326 sqm on level 3 for lease through CBRE Melbourne and
  • Riverside Quay Building 2, known as 4 Riverside Quay, Southbank, an eight-level office building with four ground-floor showrooms completed in October 1987, and officially opened in September 1988, has office space of 1,326 sqm on level 1 for lease through CBRE Melbourne and Thornburn Commercial Property.

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