The latest research from Southbank Cityscope shows property sales value has increased in the past three months, mainly due to the new strata plan sales recorded for Stage 1 of Melbourne Square development and the continuous strata lot sales in Australia 108 development. 

Sales recorded in the quarter to May 2020 totalled $449.1 million, an increase from the $107.6 million recorded in the three months to February 2020 and from the $195.4 million recorded in the three months to November 2019. 

This data brings the 12 month total close to $1.096 billion, a decrease from the $1.663 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 May 2020 Southbank Cityscope update include: 

  • 131 Sturt Street, South Melbourne including Lot 1, Lot 2A, Lot 3, Lot 4A, Lot 5 and Lot 6, a two-storey former warehouse converted to office use, on a site of 2,885 sqm. Strata subdivided into six lots in 1996. The whole building including the six lots were bought in separate transactions for a combined total of $28.1 million through Colliers International and
  • The Tea House at 28 Clarendon Street, Southbank, a 6-storey 19th century brick building with a 1984 brick extension, originally a factory and warehouse built in 1887 to 1888, altered in 1934, refurbished and extended in 1983 to 1984, further refurbished in 1992 and converted to the Tea House in 1996. The building has an area of 3,867 sqm on a site of 2,948 sqm, which was bought for $28 million in a deal handled by CBRE. 

Properties listed as for sale in May 2020 update of Southbank Cityscope include:

  • 54 Clarke Street, a high-clearance single-storey brick workshop and 56 Clarke Street, Southbank a single-storey brick warehouse with a loading bay to Clarke Street, built 1955, with a combined site area of approximately 598 sqm are for sale together as a development site through Colliers International Melbourne.
  • Unit 8, known as 20 Kavanagh Street, Southbank, a 55 sqm retail space on ground level with a south-easterly aspect plus one car space on level 7 in the Southpoint Concierge Apartments block, which is for sale at an asking price of $800,000 through Killen Thomas and
  • Lot 7, known as office 207, part of the DFO South Wharf at 15-25 Convention Centre Place, South Wharf, a commercial unit on level two plus three car spaces on level two, north east aspect, which is for sale through Flash Property Group. 

Leasing opportunities listed in the May 2020 update of Southbank Cityscope include: 

  • Unit 3 known as 182 Normanby Rd, South Melbourne, comprising of a 320 sqm showroom, 320 sqm of office space and a 475 sqm warehouse - a total building area of 1,115 sqm plus 10 car spaces, available through CBRE Melbourne and NSL Property Group;
  • 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, a net lettable area 20,736 sqm, which has office space of 967 sqm on level 9 available through Cushman & Wakefield and CBRE Melbourne and 
  • 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 544 car spaces in seven levels above ground, which has office space of 333 sqm on level 13, 1,401 sqm on level 28, 1,952 sqm on level 33 and 976 sqm on level 34 available through Colliers International Melbourne and CBRE Melbourne.