The latest research from St Kilda Road Cityscope shows property sales have decreased significantly in the past three months. For the three months to January 2018, there were 355 sales at a total value of $414.6 million, a large decrease from 272 sales at a total value of $616.1 million from the previous quarter.
This data brings the 12-month total to $1.462 billion from 1,181 sales, a significant increase from the $691.7 million from 484 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 January 2018 update of St Kilda Road Cityscope include:
- The Gateway at 312 St Kilda Road, Southbank, an eight-storey concrete building finished in polished reconstructed granite and simulated sandstone with a 273-space basement car parking station and a building area of 10,275 sqm, which was sold for $77 million through CBRE Melbourne. The sale represented an initial yield of 4.66% on passing income of $3,588,200;
- Royce Hotel at 375-385 St Kilda Road, Melbourne, a four-storey, five-star hotel with 71 rooms and a basement car park and Freeman McMurrick House at 387-389 St Kilda Road, Melbourne, a four-storey office building of 1,124 sqm, which were sold together for $55 million through McVay Real Estate and
- 1 Bowen Crescent, Melbourne, an office building of eight levels constructed on the site of the former St Kilda Road Police Station with two levels of basement parking, 5 floors of offices, plus a top-floor recreation level, which was sold for $14 million through CBRE Melbourne.
Properties listed for sale in the January 2018 update of St Kilda Road Cityscope include:
- 52-52 Albert Road, South Melbourne, a four-storey office building with a 20-space basement car parking area and a building area of 1,732 sqm, which is for sale through Lemon Baxter and Colliers International Melbourne and
- Unit G1, a ground floor shop with one car space and Unit G3, a ground floor shop at 566 St Kilda Road, Melbourne, which are available together with an asking price of $1,825,000 through CVA Property Consultants.
Significant leasing opportunities listed in the January 2018 update of St Kilda Road Cityscope include:
- 484 St Kilda Road, Melbourne, a 16-storey office building with two levels of basement parking, which has office space of 1,202 sqm available through Cushman & Wakefield and Thorburn Commercial Property;
- 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, which has office space ranging from 533 to 1,660sqm available through JLL Melbourne
- VACC House at 464-466 St Kilda Road, Melbourne, a three-and-eight-storey office building, which has office space of 1,731 sqm available through Thorburn Commercial Property.
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe