Commercial Market Update – Canberra Cityscope
The latest research from Canberra Cityscope shows property sales have increased significantly in the past three months. Sales recorded in the quarter to March 2017 totalled $710.5 million, a substantial increase from the $75.5 million recorded in the three months to December 2016 and from the $141.8 million recorded in the three months to September 2016. The data brings the 12-month total to $1.447 billion, an increase from the $443.7 million recorded the same time last year.
The table below shows sales recorded for the past eight updates of Canberra Cityscope.
Notable sales in the March 2017 update of Canberra Cityscope include:
- The 50% interest of Westfield Woden at 8 Keltie Street, which was sold together with six other connecting properties, which consisted of a three-level parking station on Callam Street, a single-storey retail building known as The Market at 2 Keltie Street, extension of the 9,000 sqm retail at 8 Bradley Street, Bonner House West and Bonner Court at 7 Neptune Street, a six-storey office and retail building, Bonner House East at 1-5 Neptune Street, a three-storey office and showroom building and a multi-level car park on Bradley Street were all bought by Perron Investments for $335 million in a deal brokered by Colliers International and
- A 12-storey office building at 50 Marcus Clarke Street with a three-level basement car park and net lettable area of 40,201 sqm on a 4,799 sqm site was bought for $321 million by Mirae Asset Global Investment in a deal brokered by CBRE and JLL Canberra.
Properties listed as for sale in the March 2017 update of Canberra Cityscope include:
- 8 Rudd Street, Canberra City, an eight-storey office building with four basement car parking levels and two ground level retail shops of 150 sqm and 300 sqm built in 2004 on a 1,451 sqm site was for sale via expressions of interest through Knight Frank and JLL -Canberra;
- 36 Mort Street, Braddon, a single and a two-storey building built circa 1925 with work sheds and yard and 34 Mort Street, two single storey buildings and workshop at rear with a combined site of 3,066 sqm are for sale in lone line or individually via expressions of interest closing 23 March through Raine & Horne Commercial and Colliers International and
- 14 Wales Street, Belconnen, a two-storey high-clearance warehouse building with on-grade parking for 25 vehicles and net lettable area of 3,800 sqm on a 4,031 sqm site is for sale through CBRE.
Leasing opportunities in the March 2017 update of Canberra Cityscope include:
- CWA House at 17 Moore Street, Canberra City, a six-storey office building with three levels of basement parking for 77 cars and a net lettable area of 6,291 sqm which has office space of 45 to 5,743 sqm available for lease through Colliers International and Raine & Horne Commercial;
- Oracle House at 243 Northbourne Avenue, Lyneham, a four-storey A-grade office building with two basement parking levels for 330 cars and net lettable area of 8,455 sqm has office space of 288 to 1,043 sqm for lease through CBRE and Knight Frank and
- 7-11 Barry Drive, Turner, a two-storey office building with basement parking for 74 cars and net lettable office area of 2,375 sqm has office space of 180 to 2,375 sqm for lease through Civium Commercial.
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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