The latest research from St Kilda Road Cityscope shows property sales value have slightly increased in the past three months. For the three months to October 2018, there were 325 sales at a total value of $242.5 million, an increase from 277 sales at a total value of $236.3 million from the previous quarter. This data brings the 12-month total to $1.383 billion from 1,354 sales, a slight decrease from the $1.459 billion from 992 sales recorded over the previous year.
The table below shows sales recorded for the past eight updates of St Kilda Road Cityscope.
Recent standout sales in October 2018 update of St Kilda Road Cityscope include:
- 52 Albert Road, South Melbourne, a four-storey office building with a 20-space basement car parking area; completed 1982 and strata subdivided into four units each on one whole floor with a total building area of 1,732 sqm, which was sold for about $8.65 million through Lemon Baxter and Colliers International Melbourne;
- 49-51 Stead Street, South Melbourne, a 4-storey office building, completed in 1985, renovated in 1990 with eight undercover car parking spaces to Palmerston Place and a net lettable area 1,015 sqm, which was sold for $6 million through Dixon Kestles and
- Unit 801, 74 Eastern Road, South Melbourne, a 3-bedroom residential apartment with a wrap around balcony on level 8 including four car parks on the ground and level 1, was sold off the plan for $5.367 million.
Properties listed for sale in the October 2018 update of St Kilda Road Cityscope include:
- A three-storey strata block built in the 1930s comprising a total of 25 units – unit 1, unit 2, unit 3, Unit 4, unit 5, unit 6, unit 7, unit 8, unit 9, unit 10, unit 11, unit 12, unit 13, unit 14, unit 15, unit 16, unit 17, unit 18, unit 19, unit 20, unit 21, unit 22, unit 23, unit 24 and unit 25 at 545 St Kilda Road, Melbourne, are for sale together through JLL Melbourne and
- 541 St Kilda Road, Melbourne, a seven-storey building with a 126-space basement car park, completed 1986 and refurbished in 2000 and 2007; comprising office space in the six upper levels and retail on ground level with a net lettable area of 8,229 sqm on a 2,846 sqm site, available through JLL Melbourne and CBRE Melbourne
Significant leasing opportunities listed in the October 2018 update of St Kilda Road Cityscope include:
- 3 Bowen Crescent, Melbourne, an 11-storey office building with three basement levels and a ground floor arcade completed 1973 and upgraded 1987, has office space ranging from 50 sqm to 900 sqm available through Lemon Baxter and Knight Frank Melbourne;
- 71 Queens Road, Melbourne, an 11-storey office building refurbished in 2000 with a lettable area of 8,443 sqm and a total of 117 car parking spaces, has office space ranging from 56 to 4,192 sqm available through Teska Carson Richmond and
- 600 St Kilda Road, Melbourne, a 15-level office building with a stepped facade dropping to three-storeys on each side, including three ground-floor showrooms and an eight-level, 566-space covered car parking area to the rear, completed 1989, which has office space of 493 to 2,153 sqm available through JLL Melbourne and Colliers International Melbourne.