The latest research from Wellington Cityscope shows that commercial property sales have increased in total sales value in the last quarter. For the three months to July 2018, there were 28 sales at a total value of $225.9 million, compared to the 17 sales at a total value of $112.8 million for the previous quarter. For the twelve months to July 2018, there were 79 sales at a total value of $642.1 million, compared to 69 sales at a total value of $472.9 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 July 2018 update of Wellington Cityscope include:

  • HSBC Tower at 195 Lambton Quay, Wellington Central, a 24-storey tower comprising 14 office floors built above nine car parking floors with 186 car bays and a ground floor foyer with retail space, which was sold for $102.5 million; 
  • Unit 1 of Willeston Centre at 117 Customhouse Quay, Wellington Central, comprising basement, ground and first floor plus 15 car parking spaces, which was sold for $15 million; and
  • Communication Arts House at 15 Walter Street, Te Aro, a four-storey office building plus basement parking and a paved parking area to the south with a total of 80 spaces, which was sold for $12 million. 
Wellington Cityscope Quarterly sales graph

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

  • HMR Building at 5-7 Vivian Street, Te Aro, a five-storey warehouse/office building with showroom with a total building area of 2,245 sqm on a 1,110 sqm block, which is available through Colliers International; 
  • 191-195 Cuba Street, Te Aro, a three-storey building with shops on the ground floor and galleries above situated on a 498 sqm  block, which is available through JLL Wellington; and 
  • Todd Building at 95 Customhouse Quay, Wellington Central, a 16-storey office building with basement parking for 65 cars, ground floor foyer and shops, which is available through Colliers International. 

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

  • Creo House at 57-59 Courtenay Place, Te Aro, an eight-storey building comprising ground floor retail space, first floor parking with 24 bays and six upper office floors, which has office space ranging from 581 to 1,473 sqm available for lease through Bayleys Wellington; 
  • 1 Grey Street, Wellington Central, a 12-storey office building with ground floor shops and basement parking for 32 cars, with net lettable area of 10,379 sqm, which has retail/office space ranging from 793 to 4,278 sqm available for lease through Bayleys Wellington; and 
  • Yoobee House at 20 Kent Terrace, Mt Victoria, a four-storey office building, with a net lettable area of 3,243 sqm and 50 car bays over two levels at the rear, which has office space of 600 sqm available through Colliers International. 
     

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