Commercial Market Update – Perth Cityscope
The latest research from Perth Cityscope shows property sales have increased in the past three months. Sales recorded in the quarter to December 2016 totalled $251.6 million, an increase from the $157.2 million recorded in the three months to September 2016 and the $239.4 million recorded to June 2016. This data brings the 12-month total to $1.302 billion, an increase from the $1.040 billion recorded the same time last year.
The table below shows sales recorded for the past eight updates of Perth Cityscope:
Recent standout sales in Perth include:
- Carillon City Retail at 680-692 Hay Street, Perth, a 4 level retail arcade comprising 140 specialty shops and Carillon Office Tower, at 674-678 Hay Street, Perth, 14 levels of offices sitting atop the Carillion Retail Arcade, which sold together for $140 million through JLL Perth;
- Quest East Perth, at 176 Adelaide Terrace, East Perth, a 19-level apartment hotel building with 130 rooms, completed in 2016, which sold for $42 million through Resort Brokers and
- Sheffield House at 713-721 Hay Street, Perth, a four-storey office building plus basement parking on a site area of 947 sqm, which sold for $31.5 million through Colliers International.
Properties for sale in Perth in December 2016 include:
- RSM Bird Cameron Building at 8 St Georges Terrace, Perth, an eight-storey building with a curved facade that was offered for sale separately or as part of a portfolio of ten buildings including 16 Victoria Avenue, Perth and eight other buildings in the ACT, NSW and QLD through JLL Perth and CBRE;
- 578 Murray Street, West Perth, a two-storey office building with a lower ground floor and net lettable area of 2,063 sqm for sale through JLL – Perth with an asking price of $18 to $20 million and
- 20 Queen Street, Perth, a warehouse building of two storeys plus basement, built in 1900 and for sale through Lease Equity.
Significant leasing opportunities in Perth in December 2016 include:
- Central Park at 777 Hay Street, Perth, a 48-storey office tower plus 4 levels of basement parking, which has office space up to 8,779 sqm for lease through JLL Perth;
- Transport House at 441 Murray Street, Perth, an eight-storey office building with a two-storey arm to the front, and basement parking for 39 cars which has office space up to 5,793 sqm for lease through JLL Perth and
- State One House at 172 St Georges Terrace, Perth, a 15-storey office building opened in 1974 has office space from 114 to 5,131 sqm for lease through Colliers International.
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.
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