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

For the three months to January 2019, there were 44 sales at a total value of $260.5 million, an increase from 325 sales at a total value of $242.5 million from the previous quarter. This data brings the 12-month total to $1.210 billion from 1,001 sales, a decrease from the $1.485 billion from 1228 sales recorded over the previous year.

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

St Kilda Sales Grid January 2019

 

Recent standout sales in January 2019 update of St Kilda Road Cityscope include:

  • Five0Nine at 509 St Kilda Road
    Melbourne, a seven-storey office building with five ground-floor showrooms of which three face St Kilda Road, a bistro on level six, a rooftop tennis court and a 333-space car parking area on the ground floor and basement, completed in May 1990 and forecourt refurbished in 2012 and a net lettable area 19,650 sqm, which was sold for $163 million through CBRE Melbourne;
     
  • 541 St Kilda Road, Melbourne
    A seven-storey building with a 126-space basement car park, completed 1986; comprising office space in the six upper levels and retail on ground level with major renovations completed in 2007 and a net lettable area 8,229 sqm, which was sold subject to approval by the FIRB for about $65 million through CBRE Melbourne and JLL Melbourne and
     
  • 9-17 Raglan Street, South Melbourne
    A four-storey office building with rear ground-floor parking for 17 cars completed 1971, partially refurbished 1993 and extensively refurbished in 1999 and a net lettable area 1,900 sqm, which was sold for $14 million through Knight Frank Melbourne.

 

St Kilda Sales Chart January 2019

 

Properties listed for sale in the January 2019 update of St Kilda Road Cityscope include:

  • The Willows at 462 St Kilda Road, Melbourne
    Built in 1890 for bootmaker Leon Cohen, and significantly altered early in the 1900s. The building is all that remains of a sixteen-roomed single storey brick and stucco house now retaining only its principal rooms. The facade, of a Greek revival style is decorated with low reliefs on classical themes. The property with a building area of 218 sqm is currently for sale together through Allard Shelton Melbourne and Colliers International Melbourne;
     
  • New Charsfield development at 478 St Kilda Road, Melbourne
    A 21-storey residential building plus 3 basement levels for car parking, comprising a total of 232 apartments and 6 home offices and to include the refurbishment of the former Hotel Charsfield. The completed building to be leased to Quest for 10 years with 4 option periods each of 5 years is for sale through Knight Frank - Melbourne and
     
  • Landene at 490 St Kilda Road, Melbourne
    A two-storey brick building constructed in 1897, used for many years as a post office on the ground floor and residence above and renovated for residential use in 1993 on a 1,046 block is for sale through Harcourts Melbourne City. Was for sale by tender closing 6 December 2018. Not sold and still for sale in January 2019; agent Harcourts Melbourne City.
     

Significant leasing opportunities listed in the January 2019 update of St Kilda Road Cityscope include:

  • 346-348 Kings Way, South Melbourne 
    A 2-storey brick office building constructed in 1968 with parking for four cars at the rear of the ground floor refurbished in 1998, and refitted in 1999 and a building area of 390 sqm is for lease through GormanKelly;
     
  • AIS Group House at 441 St Kilda Road, Melbourne 
    A 7-level office building including five ground floor showrooms off the foyer, a rooftop tennis court and a 334-space basement car parking area, completed in 1988 and last refurbished in 2003 with a net lettable office area of 16,128 sqm, has office space ranging from 205 to 1,166 sqm available through Knight Frank Melbourne and Knight Frank Eastern Office and
     
  • Spotless Headquarters at 549 St Kilda Road, Melbourne 
    A 7-storey building consisting of ground-level showrooms and six office floors above a 209-space, two-level basement car parking area, constructed 1987 with gross building area 11,600 sqm, has office space of 1,000 to 1,572 sqm available through Colliers International Melbourne.