Commercial Market Update – Docklands Cityscope
The latest research from Docklands Cityscope shows that commercial property sales have increased in number and in total sales value. For the quarter to April 2017, there were 20 sales at a total sales value of $878.1 million, compared to 8 sales at a total value of $78.8 million for the previous quarter. The yearly figures have increased in total value, with 48 sales at a total value of $1.174 billion for the twelve months to April 2017, compared to 59 sales at a total value of $313.3 million for the previous year.
The table below shows sales recorded for the past eight updates of Docklands Cityscope.
Notable sales in the April 2017 update of Docklands Cityscope include:
- 839-865 Collins Street, Docklands, a development site for a 20-storey building featuring 38,000 sqm of A-grade commercial space, to be developed by Lendlease. The proposed building and the site were bought for about $430 million;
- World Trade Centre at 18-38 Siddeley Street, Docklands, also known as WTC Wharf, comprising towers 2, 3, 4 and a two-level atrium section named the Thales Australia Centre. The towers are linked by a three-level concourse of shops, showrooms and office suites. There are 436 car spaces on the lower three floors, with a total building area 53,301 sqm, comprising office space of 37,360 sqm and retail space of 15,941 sqm, which sold for $267.5 million;
- 7-23 Spencer Street, Docklands, a development site of 8,607 sqm for a mixed-use development to comprise of 3 buildings ranging from 25-34 storeys with a total of 1,162 residential apartments, 1,321 sqm of retail space and 461 car parking space, which sold for $97 million.
Properties listed as for sale in the April 2017 update of Docklands Cityscope include:
- 1G/439 Docklands Drive, Docklands, a 200 sqm retail premises on the ground floor, for sale with an asking price of $1.8 million through No Agent Property – Moorabbin;
- Suite 1205 at 401 Docklands Drive, Docklands, a 75 sqm office suite on level 12 to the north-west corner of building, for sale through Lucas Real Estate Docklands;
- Suite 603 at 198 Harbour Esplanade, Docklands, a 91 sqm office suite with balcony located on level 6 plus two car spaces, for sale through Gorman Commercial Hawthorn East.
Leasing opportunities listed in the April 2017 update of Docklands Cityscope include:
- 737 Bourke Street, Docklands, an 11-storey office building with retail shops on ground and basement car parking for 231 cars, has office space ranging from 1,300 to 1,345 sqm for lease through CBRE – Melbourne and Investa Property Group;
- Australian Bureau of Meteorology Building at 700 Collins Street, Docklands, a 15-storey office building with retail spaces on ground floor and 265 car spaces on lower floors, has 670 sqm for lease through Colliers International – Melbourne;
- The Conder at 2 Newquay Promenade, Docklands, a 21-storey apartment building with retail space on the ground, retail space ranging from 110 to 190 sqm for lease through Exceland Real Estate – Camberwell and No Agent Property – Moorabbin.
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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