The latest research from Southbank Cityscope shows property sales value has decreased in the past three months.
Sales recorded in the quarter to August 2020 totalled $251.9 million, a decrease from the $449.3 million recorded in the three months to May 2020 but an increase from the $108.4 million recorded in the three months to February 2020.
This data brings the 12 month total close to $1.007 billion, a decrease from the $1.578 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 2020 Southbank Cityscope update include:
- A 50% interest in 216-222 Normanby Road, South Melbourne, a two-storey brick building of 1,133 sqm and a site area of 860 sqm with 20 car spaces; refurbished and converted into a childcare centre in late 2009, which sold for $3.05 million;
- Unit 2208, West Tower, The Melburnian, 250 St Kilda Road, Southbank a residential unit on level 22 with six car spaces and storage, which was bought for $6.35 million and
- Unit 1403, East Tower, The Melburnian, 250 St Kilda Road, Southbank, a 295 sqm residential unit on level 14 with 4 bedrooms plus balcony, two car spaces and storage, which was bought for $5.6 million through Abercromby's Real Estate.
Properties listed as for sale in August 2020 update of Southbank Cityscope include:
- Lot 5001C, The Melburnian, 250 St Kilda Road, Southbank, a 143 sqm office space on the ground floor plus a car space on the lower ground level, for sale through Abercromby's Real Estate - Armadale in conjunction with Mary Dowling Residential and
- Unit 7 at 222 Kingsway, 222 Kings Way, South Melbourne, a 350 sqm commercial space being the whole of the fifth floor, which is for sale at an asking price of $1.8 million through CRS Property – Melbourne.
Leasing opportunities listed in the August 2020 update of Southbank Cityscope include:
- Market Lane at 68 Clarke Street, Southbank, a 9-storey commercial building comprising five levels of office space of over 8,500 sqm and three levels of basement parking for 193 cars plus ground level shops, which has office space of 63 to 8,500 available through Aston Commercial, Lemon Baxter and Colliers International Melbourne;
- Melbourne Square Development at 93-119 Kavanagh Street, Southbank, currently vacant land but the site of a future commercial tower, which has office space ranging from 597 to 37,440 sqm in the future building with 181 car spaces available for pre lease through Lemon Baxter South Melbourne and
- 36-38 Park Street, South Melbourne, a two-storey building divided into three separate sections, each with its own entrance. At 36 Park Street, a ground-floor showroom of about 140 sqm and 450 sqm of first-floor offices, which has suite 1 of 500 sqm and suite 2 of 270 sqm on level 1 available through For Sale By Owner and Flash Property Group.