The latest research from Wellington Cityscope shows that commercial property sales have decreased in total sales value in the last quarter. For the three months to April 2018, there were 15 sales at a total value of $108.9 million, compared to the 20 sales at a total value of $260.8 million for the previous quarter. For the twelve months to April 2018, there were 62 sales at a total value of $507.7 million, compared to the 65 sales at a total value of $417.4 million for the previous 12 months.

The table below shows sales recorded for the past eight updates of Wellington Cityscope.

Wellington Cityscope quarterly sales


Notable sales in the April 2018 update of Wellington Cityscope include:

  • Te Aro House and showroom building at 82 Cuba Street, Te Aro, a six-storey building with 1,500 sqm of retail space and 9,000 sqm of office space, a dance studio, a 250-seat theatre and darkrooms for film photography, plus a two-storey building known as Te Aro House and a single-storey building, on a site of 2,175 sqm, which was bought for over $65.1 million;
  • Sunlink Carpark at 79 Dixon Street, Te Aro,  a paved parking lot with 22 spaces on a site of 651 sqm; Century City Car Park at 75 Dixon Street, a vacant paved parking area on a site of 1,136 sqm; the former Farmers department store at 96-102 Cuba Street, two to four-storeys on a 4,544 sqm site,  104 Cuba Street, a two-storey retail building on a site of 410 sqm; 106 Cuba Street, a two-storey building on a site of 496 sqm and a ground floor retail shop in the Left Bank Arcade at 116 Cuba Street, which changed hands together in a related party sale for a total of $22.275 million and
  • Polo House at 267 Wakefield Street, Te Aro, an eight-storey Art Deco building with a ground floor retail showroom, five upper office floors and a two-storey penthouse, providing 1,822 sqm building area, which was bought for $4.5 million.

 

Wellington Cityscope quarterly sales graph


Properties listed as for sale in the April 2018 update of Wellington Cityscope include:

  • Just Paterson House at 11B Tory Street, Te Aro, a three-storey office building, with ground floor retail, which is for sale by tender through Just Paterson Real Estate; 
  • 21 Vivian Street, Te Aro, a high single-storey workshop with a mezzanine office area, plus a small single-storey office, which is for sale by tender through Bayleys and 
  • Unit 17 in the two-storey building at 18-24 Allen Street, Te Aro, a 200 sqm retail shop on ground level with a car space, which is for sale by auction through Bayleys.

Leasing opportunities listed in the April 2018 update of Wellington Cityscope include:

  • State Insurance Tower at 1 Willis Street, Wellington Central, a 26-storey office building with retail space on ground and underground levels, which has office space ranging from 2,952 sqm to 4,028 sqm available through Bayleys Wellington; 
  • The former PSIS House at 20-26 Balance Street, Wellington Central, a 14-storey office building with 11 floors office, ground floor retail space and two floors of parking above ground level, which has office space ranging from 349 sqm to 3,286 sqm available through Colliers International and 
  • Grant Thornton House at 215-229 Lambton Quay, Wellington Central, a 17-storey concrete office building comprising basement parking, ground floor, one podium floor and 15 office floors, which has office space ranging from 600 sqm to 1,200 sqm available through Bayleys Wellington. 
     

 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