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

Sales recorded in the quarter to February 2019 totalled $194.4 million, a decrease from the $271.8 million recorded in the three months to November 2018 and the $429.4 million recorded in the three months to August 2018.

This data brings the 12 month total to $1.169 billion, a decrease from the $1.497 billion recorded the same time last year.

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

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Notable sales in the February 2019 update of Southbank Cityscope include:

  • 78 Moray Street, South Melbourne
    A single-storey brick building with an office and a workshop to the rear with a building area 310 sqm, which was sold at auction for $2.85 million;
  • Unit 2B at 280 City Road, Southbank
    A two-storey office unit of 318 sqm to City Road, with a three-storey extension to the rear, which sold for $2.2 million.
     
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Properties listed as for sale in February 2019 update of Southbank Cityscope include:

  • A 50% interest of 2 Southbank Boulevard, Southbank
    The commercial tower of Freshwater Place, 37 storeys completed in June 2005 with a net lettable area 55,769 sqm and parking for 544 cars over seven levels above ground, which is for sale by expressions of interest closing 28 March 2019 through CBRE Melbourne and JLL Melbourne ; and
  • 151 Sturt Street, South Melbourne
    A two-storey former warehouse converted to office use and last refurbished internally with a new facade in 2004. The building has 56 car spaces including 32 undercover and 22 along the northern side of the property and a net lettable area 1,260 sqm comprising 930 sqm on the ground floor and 330 sqm on the first floor, which is available for sale through Hocking Stuart.
     

Leasing opportunities listed in the February 2019 update of Southbank Cityscope include:

  • 70-74 Park Street, South Melbourne
    A three-storey office building of rendered brick which was last refurbished in 2001. The whole building contains a ground-floor showroom of 122 sqm, a first floor of 617 sqm, second floor of 661 sqm, a high atrium foyer on the top floor and rear ground-floor parking for 21 cars, is now for lease through Cushman & Wakefield;
  • South Wharf Office Tower, at 30 Convention Centre Place, South Wharf
    An A-grade 12-level office tower clad in black glass, completed in mid-2009. The building has basement parking for 404 vehicles. Whole floors of 2,170 sqm in the building available for lease through Cushman & Wakefield and CBRE Melbourne; and
  • Twenty8 Freshwater Place, at 28 Freshwater Place, Southbank
    A 26-level building with retail space on the ground level and 19 levels of office space, stage four of Freshwater Place completed in early 2009. The building includes six levels of parking for 348 cars on the basement level and on levels one to five and 226 bicycle parking bays. Whole office floors of 1,780 sqm is available for lease through JLL Melbourne.