The latest research from St Kilda Road Cityscope shows property sales have increased in the past three months. For the three months to April 2018, there were 354 sales at a total value of $467.6 million, an increase from 397 sales at a total value of $433.1 million from the previous quarter. This data brings the 12-month total to $1.654 billion from 1,210 sales, a significant increase from the $880.7 million from 750 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 April 2018 update of St Kilda Road Cityscope include:
- VACC House, 464-466 St Kilda Road, Melbourne, a three and eight-storey office building designed in a stepped form with a net lettable area of 14,000 sqm, which was sold for about $95 million through JLL Melbourne and Colliers International Melbourne. The sale represented an initial yield of 5.16% on a passing income of $4,900,000 (net);
- 606 St Kilda Road, Melbourne, a 12-storey office building with parking for 141 vehicles and a building area of 8,647 sqm, which was sold for $57.5 million through CBRE Melbourne. The sale represented an initial yield of approximately 6.00% on a passing income of about $3,450,000 (net) and
- 10-16 Dorcas Street, Southbank, an eight-storey concrete office building built in 1975 with parking for 88 cars and a building area of 7,567 sqm, which was sold for $37 million.
Properties listed for sale in the April 2018 update of St Kilda Road Cityscope include:
- 238 Albert Road, South Melbourne, a two-storey brick house of six main rooms built circa 1880 with a building area of 149 sqm and 236 Albert Road, South Melbourne, a two-storey brick former house built circa 1880 and with a building area of 149 sqm, which are for sale together or individually through Beller Commercial and Marshall White and
- Unit 401, 434 St Kilda Road, Melbourne, a fourth floor commercial unit, available with an asking price of $340,000 through Lemon Baxter.
Significant leasing opportunities listed in the April 2018 update of St Kilda Road Cityscope include:
- 616 St Kilda Road, Melbourne, an 11-storey office building with lower ground-floor parking plus a three-storey car parking station at the rear with office space ranging from 211 to 1,200 sqm available through Lemon Baxter;
- Tabcorp Building, at 4-6 Bowen Crescent, Melbourne, a 14-level office block with 8,000 sqm of office space above a 200-space, five-level car parking area, which has office space ranging from 100 to 878 sqm available through JLL Melbourne and
- 417 St Kilda Road, Melbourne, an office building of ten storeys to the front, five to the rear, with two large ground-floor showrooms and a 472-space basement car parking area, which has office space of 100 to 1,500 sqm available through CBRE Melbourne.
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