The latest research from St Kilda Road Cityscope shows property sales’ value has decreased in the past three months.
For the three months to October 2020, there were 337 sales at a total value of $300.1 million, compared to the 393 sales at a total value of $380.5 million in the previous quarter to July 2020 but an increase from the 146 sales at a total value of $106.4 million recorded in the three months to April. This data brings the 12-month total to close to $1.063 billion from 1,026 sales, an increase from the $980.3 million from 753 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 October 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 was bought as a development site for $35 million in a deal handled by Colliers International Melbourne;
- 71-73 Palmerston Crescent, South Melbourne, a 5-storey building of 4,528 sqm plus a basement parking for 40 cars, constructed in 1971 and refurbished in 2006, which was bought for $12.45 million on an initial yield of 3% through Colliers International and
- 18-22 Thomson Street, South Melbourne, a 3-storey office building with 905 sqm and ground floor parking for about eight cars, constructed in 1972, which was bought for $6.9 million through Appel Property in conjunction with Tomassi & Co. South Melbourne.
Properties listed for sale in the October 2020 update of St Kilda Road Cityscope include:
- 596 St Kilda Road, Melbourne, 1,804 sqm vacant land, which has development approval for a 19-storey residential and retail building, is for sale as a development site through Colliers International Melbourne and
- Car parking investments including 523 parking bays plus 61 storage units in the building at 1 Queens Road, Melbourne, and 80 parking bays plus storage units in the building at 452 St Kilda Road, Melbourne are offered for sale with another car park at 480 Collins Street (covered in Melbourne Cityscope) in one line or separately through Fitzroys.
Significant leasing opportunities listed in the October 2020 update of St Kilda Road Cityscope include:
- 424 Illoura at 424-426 St Kilda Road, Melbourne, a 6-storey office building in a U-shape around a glass-roofed atrium, built in two sections in 1966 and 1983 and refurbished in 1990, which has office space ranging from 400 to 6,000 sqm through Lemon Baxter South Melbourne and Colliers International Melbourne;
- 615-617 St Kilda Road, Windsor, a 6-storey office building with two wings, one on either side of a clock tower, completed mid-1988, which has a whole floor office space of 1,640 sqm available through Cushman & Wakefield and Thorburn Commercial Property and
- 468 St Kilda Road, Melbourne, a 13-storey office building with basement parking for 111 cars, built in 1986 and refurbished in 1997, which has whole floor office space of 916 sqm on level 7 available through Lemon Baxter South Melbourne.