The latest research from Southbank Cityscope shows property sales value have decreased in the past three months.
Sales recorded in the quarter to November 2019 totalled $195.3 million, a decrease from the $343.4 million recorded in the three months to August 2019 and from the $755.8 million recorded in the three months to May 2019.
This data brings the 12 month total close to $1.489 billion, an increase from the $1.399 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 2019 update of Southbank Cityscope include:
- Mirvac Building at 85 Coventry Street, Southbank, a 2,006 sqm three-storey concrete office building with balconies to the Dodds Street corner and two levels of under-cover parking for 39 cars, on a site of 976 sqm, which was bought for over $15 million and
- Former cold stores and offices at 21 Meaden Street, Southbank, in a high single-storey concrete brick building, built in 1972 with a building area of 1,850 sqm, which was bought for $9 million.
Properties listed as for sale in November 2019 update of Southbank Cityscope include:
- Unit 7 at 222 Kings Way, South Melbourne, the whole level 5 with four associated car spaces, approximately 350 sqm office space in the 16-level office building of 222 Kingsway, which is for sale through CRS Property – Melbourne and
- 151 Sturt Street, South Melbourne, a two-storey former warehouse converted to office use, refurbished in 1973, 1995 and 2004, with a net lettable area of 1,260 sqm on a site of 2,581sqm, which is for sale through Hocking Stuart.
Leasing opportunities listed in the November 2019 update of Southbank Cityscope include:
- 2 Southbank Boulevard, Southbank, the commercial tower of Freshwater Place, 37 storeys, completed in June 2005, with typical floor plate of 1,860 sqm and 544 car parking spaces in seven levels above ground, which has office space ranging from 818 sqm to 6,192 sqm was available through CBRE Melbourne and Colliers International Melbourne;
- The Tea House at 28 Clarendon Street, Southbank, a six-storey nineteenth century brick building with a 1984 brick extension, altered and refurbished in 1934, 1983 to 1984 and in 1992, converted to the Tea House in 1996, which has office space ranging from 300 sqm to 2,600 sqm available through CBRE Melbourne and Savills Melbourne and
- 8 Palmerston Crescent, South Melbourne, currently a two-storey rendered concrete-block built in 1988, which has an approval for a mixed-use development to comprise 36 apartments and 3,000 sqm office space over four levels, which has office space ranging from 700 sqm to 2,900 sqm in the proposed development for pre-lease through Lemon Baxter and Knight Frank Eastern Office.