Commercial Market Update – St Kilda Road Cityscope
The latest research from St Kilda Road Cityscope shows property sales have increased in the past three months. Sales recorded in the quarter ending January 2017 totalled $410.7 million from 162 sales, a large increase from the 119 sales totalling $105.9 million recorded to October 2016. This data brings the 12-month total to $690.6 million from 481 sales, a decrease from the $863 million from 840 sales recorded over the previous year.
The table below shows sales recorded for the past eight updates of St Kilda Road Cityscope:
Notable sales in the January 2017 update of St Kilda Road Cityscope include:
- 3A-5 Queens Road, Melbourne, an 11-storey hexagonal glass and granite office building with a net lettable area of 17,720 sqm and basement parking for 323 cars, which was bought for $116.3 million through Colliers International Melbourne and CBRE Melbourne;
- 553 St Kilda Road, Melbourne, a seven-storey office building with typical floor areas of approximately 1,634 sqm, including two large ground-floor showrooms, a 402 sqm penthouse, and a 196-space basement car parking area, which was bought for approximately $70 million through JLL Melbourne and
- 457 St Kilda Road, South Yarra, an eight-storey office building with parking for 114 cars and a building area of 9,534 sqm, which was bought for $55 million through Teska Carson Richmond and CBRE Melbourne.
Properties listed as for sale in the January 2017 update of St Kilda Road Cityscope include:
- 9-11 Palmerston Crescent, South Melbourne, a two-storey concrete office building of 696 sqm, through Colliers International Melbourne and
- 24 Thomson Street, South Melbourne, a three-storey concrete and brick office building with ground-floor parking for six cars, through Knight Frank Melbourne.
Leasing opportunities in the January 2017 update of St Kilda Road Cityscope include:
- VACC House, 464-466 St Kilda Road, Melbourne, a three and eight-storey office building Melbourne of 14,000 sqm, which has office space of 340 to 2,726 sqm available through Cushman & Wakefield;
- 484 St Kilda Road, Melbourne, a 16-storey office building with two levels of basement parking for 225 cars, which has office space of 360 to 3,324 sqm available through Thorburn Commercial Property and Cushman & Wakefield and
- 553 St Kilda Road, Melbourne, a seven-storey office building and a 196-space basement car parking area, which has office space of 735 to 8,000 sqm available through CBRE Melbourne.
Commercial Research
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
