The latest research from St Kilda Road Cityscope shows property sales have decreased in the past three months.

For the three months to July 2018, there were 277 sales at a total value of $236.3 million, a decrease from 354 sales at a total value of $470.6 million from the previous quarter. This data brings the 12-month total to $1.756 billion from 1,301 sales, a significant increase from the $948.4 million from 838 sales recorded over the previous year.

The table below shows sales recorded for the past eight updates of St Kilda Road Cityscope.

St Kilda Road Cityscope quarterly sales

Recent standout sales in July 2018 update of St Kilda Road Cityscope include: 

  • 10 Queens Road, Melbourne, a 19 level, concrete office building which includes 159 parking spaces over three basement levels with a net lettable area of 9,000 sqm, which was sold for about $60 million. The sale represented an initial yield of around 5.00% on passing income of $3,000,000; 
  • Unit 1, Unit 2, Unit 3, Unit 4, Unit 5 and Unit 6, (the whole building), at 8-12 Sandilands Street, South Melbourne, a two-storey office building, completed in 1982, which was strata subdivided in 1987 into six office units (three on each floor) plus seven car parking units and a building area of 600 sqm, was sold for $6.3 million through Allard Shelton Melbourne and 
  • 87 Palmerston Crescent, South Melbourne, an office building of two storeys to Palmerston Crescent and three storeys to the rear, with covered parking for five cars and building area of 458 sqm, was sold for $3.9 million through Colliers International. 

 

St Kilda Road Cityscope quarterly sales graph

Properties listed for sale in the July 2018 update of St Kilda Road Cityscope include: 

  • Shop 1 and Shop 2 at 50 Albert Road, South Melbourne, both retail/commercial spaces on the ground and level one, plus two parking spaces on the lower ground level, for sale together through Kelemen Commercial;
  • 60 Stead Street, South Melbourne, a single-storey brick cottage which is part of a terrace row that was built 1880 and refurbished early 1989 with rear parking for two cars, available through Teska Carson and Moss Property Consultants and
  • Unit G2 at 434 St Kilda Road, Melbourne, a ground floor retail unit of 42 sqm being offered for sale for the first time in 20 years through Knight Frank Glen Waverley.

Significant leasing opportunities listed in the July 2018 update of St Kilda Road Cityscope include: 

  • 549 St Kilda Road, Melbourne, a seven-storey building consisting of ground-level showrooms and six office floors above a 209-space car parking area has floor areas from 1,000 sqm to 1,572 sqm available through Colliers International Melbourne; 
  • 616 St Kilda Road, Melbourne, an 11-storey office building with lower ground-floor parking plus a three-storey car parking station, which has office space ranging from 211 to 1,200 sqm available through Lemon Baxter and Primewest Real Estate and
  • NLC Building, 102 Albert Road, South Melbourne, a six-storey office building with parking space for 106 cars, which has office space of 435 to 1,070  sqm available through Knight Frank Melbourne and 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