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

For the three months to July 2020, there were 393 sales at a total value of $380.5 million, an increase from the 146 sales at a total value of $106.4 million from the three months to April 2020 and the 150 sales at a total value of $275.9 million from the previous quarter. This data brings the 12-month total to $968.7 million from 831 sales, a decrease from the $1.013 billion from 935 sales recorded over the previous year.

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

Recent sales in July 2020 update of St Kilda Road Cityscope include: 

  • Flight Centre House at 436 St Kilda Road, Melbourne, a 10-storey office building with 167 car spaces on paved land to the rear and in the basement, with a net lettable office area of 7,507 sqm, built in 1987 and refurbished in 2000 and 2019, on a block of land 2,317 sqm, which was bought for $62.15 million in a deal handled by Fitzroys; 
  • 1 Bowen Crescent, Melbourne, an 8-level office building constructed on the site of the former St Kilda Road Police Station, comprising two levels of basement parking, five levels of offices, plus a top-floor recreation level, with a building area about 3,700 sqm, which was bought for approximately $19 million in a deal handled by JLL Melbourne and 
  • Unit 1802 in the 20-level Albert Place Residences at 7 Bowen Crescent, Melbourne, a two-bedroom, two-storey residential apartment with a terrace on level 18 facing southwest and an area on level 19 plus four car spaces and a storage area on basement level 1, which was bought for $8,750,500 (GST inclusive).
     

Properties listed for sale in the July 2020 update of St Kilda Road Cityscope include: 

  • Montefiore Homes – Smorgon Family Wing at 4K-14K Raleigh Street, Windsor, a four-storey brick, concrete and glass extension to the Montefiore Homes at 619 St Kilda Road, Windsor, joined by an enclosed walkway at the ground and first floors, completed in 1987. The northern part of the 4.293 sqm site is used as parking for about 60 cars, which is for sale    through Colliers International Melbourne and
  • 349 Moray Street, South Melbourne, a two-level office building built in 1980, refurbished in 1988 and 2008, with a building area of 255 sqm on a site of 218 sqm, which is for sale with an asking price of $2.5 million through Walshe & Whitelock. 
     

Significant leasing opportunities listed in the July 2020 update of St Kilda Road Cityscope include: 

  • 412 St Kilda Road, Melbourne, the former St Kilda Road Police Complex, a 22-level, B grade office building, which is currently internal refurbishment, has office space ranging from 100 sqm to 16,285 sqm for lease through Colliers International Melbourne and Cushman & Wakefield Melbourne; 
  • 10-16 Dorcas Street, Southbank, an 8-storey concrete office building built in 1975 and refurbished in 1987, 1998 and 2000, which has the whole building of about 7,567 sqm for lease through Cushman & Wakefield and Colliers International and  
  • 11-17 Dorcas Street, South Melbourne, a six-level office building including a rooftop balcony, recreation area and a 32-space lower ground car parking, which has office space ranging from 700 sqm to 3,885 sqm for lease through JLL Melbourne and Lemon Baxter.