Commercial Market Update – Chapel Street Cityscope
The latest research from Chapel Street Cityscope shows that commercial property sales have increased in the past three months. Sales recorded in the quarter ending February 2017 totalled $26.6 million from 9 sales, compared with $3 million from 3 sales in the three months to November 2016 but less than the recorded $211.8 million from 8 sales in the three months to August 2016, though this August figure was the result of the sale of The Como Centre and 650 Chapel Street, which were bought together for $202.7 million.
This data brings the 12 month total to $372.6 million from 33 sales, a decrease from the previous twelve month total of $417.5 million from 44 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the February 2017 update of Chapel Street Cityscope include:
- Unit 5 at 529 Chapel Street, South Yarra, an office/penthouse on the whole of the first level, which sold for $6.85 million through Colliers International and
- 403 Chapel Street, South Yarra, a two-storey retail building with a later brick addition to the rear on a site area of 185 sqm, which sold for a total of $5 million through CBRE – Melbourne.
Properties listed as for sale in the February 2017 update of Chapel Street Cityscope include:
- Shop 2 and shop 3, at 529 Chapel Street, South Yarra, two ground floor retail units tenanted by General Pants, to be auctioned March 9, 2017 through Vinci Carbone and
- 49 Toorak Road, South Yarra, a two-storey retail building on a 56 sqm site, for sale through LINQ Property;
Leasing opportunities listed in the February 2017 update of Chapel Street Cityscope include:
- 409 Chapel Street, a two-storey retail building with a yard to the rear, built in 1910, has the whole of level one for lease through TeskaCarson;
- 262-264 Chapel Street, Prahran, a three-storey brick retail building to Chapel Street with a single-storey warehouse building to the rear has retail space of 500 sqm for lease through CRS Property and
- 219 Commercial Road, South Yarra, a single-storey brick retail building of 455 sqm for lease through CVA Property Consultants.
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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