The latest research from Eastern Melbourne Cityscope shows property sales have increased in the past three months in both total sale value and volume.
Sales recorded in the quarter ending July 2021 totalled $300.8 million from 34 sales, compared to the $103.2 million from 23 sales in the quarter ending April 2021 and the $32 million from 13 sales in the quarter ending January 2021.
This data brings the 12-month total to $487.8 million, a decrease from the $1.016 billion recorded over the same period of the previous year.
The table below shows sales recorded for the past eight updates of Eastern Melbourne Cityscope.
Notable sales in the July 2021 update of Eastern Melbourne Cityscope include:
• 919-913 Whitehorse Road, Box Hill, a 19-storey office building comprising 13 office levels and 6 levels of car parking with net lettable area of 19,350 sqm completed in early 2015, which was bought for $230 million;
• 26-28 Prospect Street, Box Hill, a glass-fronted concrete office building of five levels including basement parking for 109 cars, completed 1989 with a lettable area of 3,028 sqm, which was bought for $17.158 million; and
• 268 Canterbury Road, Surrey Hills, a 2-storey concrete office building with 30 car spaces on the lower floor and on paved land round the building. Total net lettable area 1,550 sqm, which was bought for $9.7 million.
Properties listed as for sale in the July 2021 update of Eastern Melbourne Cityscope include:
- 7-11 Shipley Street, Box Hill, a two-level concrete building with one floor of office space of 670 sqm and lower-ground parking for 19 cars, completed early 1986, which is for sale through Savills – Melbourne;
- Lot 101, known as 36 Glasshouse Road, Collingwood, a 3-storey office building of approximately 230 sqm. This property is part of a group of 3-storey office buildings at 36-42 Glasshouse Road built in 2010 and integrated with the Glassworks development in 2014. It is for sale by expressions of interest closing 1st September 2021 through Vision Real Estate, and
- 44 Highbury Road, Burwood, an office building of one storey plus basement and on grade parking. Building area 505 sqm including 13 car spaces, which is for sale through Lawson Real Estate - Mount Waverley; and
Leasing opportunities in the July 2021 update of Eastern Melbourne Cityscope include:
- 16-18 Cato Street, Hawthorn East, a 4-storey office building including a basement parking for 175 cars, completed in late 2004. Building area 5,133 sqm, which has office space ranging from 1,500 to 5,133 sqm available through JLL Metro Market;
- 1 Peters Avenue, Mulgrave, an 8-storey, A grade office building to the corner of Wellington Road and Peters Avenue with a net lettable area 15,692 sqm and a 123 sqm cafe on ground floor; completed in May 2020. The property also include a 6-storey car park building for 607 cars to Peters Avenue, completed in September 2020, which has office space ranging from 800 to 5,850 sqm available through Colliers International – Melbourne East and CBRE Mulgrave; and
- 990 Whitehorse Road, Box Hill, a concrete and glass-paneled office building of nine levels, including three basement levels with 403 car spaces and a total building area of 21,760 sqm. The property was extensively refurbished in late 2015 which included alterations and additions to the existing building to increase floor area and external alterations to include a cafe on the ground level, which has office space ranging from 200 to 3,400 sqm available through JLL Metro Market and Colliers International – Melbourne East.
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