Docklands commercial property sales fall sharply in quarter to April: Cityscope

The latest research from Docklands Cityscope shows that commercial property sales for the quarter have significantly declined.

In the three months to April 2016 there were 11 sales at a total value of just $4.2 million, compared to 16 sales at a total value of $120.2 million for the quarter to January 2016, and 11 sales at a total value of $164.2 million for the quarter to October 2015. The yearly figures are also markedly down, with 54 sales at a total value of $300.2 million for the twelve months to April 2016, compared to 64 sales at a total value of $1.494 billion over the previous year.

Notable sales, such as they are, in the April 2016 update of Docklands Cityscope include:

• Lot 222 at 838 Collins Street, Docklands, a commercial unit on the level four mezzanine, which sold for $820,000;
• Lot 15 at 838 Collins Street, Docklands, a retail unit on the ground floor, which sold for $650,000; and
• Unit 216 at 757 Bourke Street, Docklands, a commercial unit on the second floor, which sold for $395,000.

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Properties listed as for sale in the April 2016 update of Docklands Cityscope include:

• Unit 13 at 42 Newquay Promenade, Docklands, a retail lot of 323 sqm, at an asking price of $1,850,000;
• Unit 101W at 425-441 Docklands Drive, Docklands, a 200-sqm shop, available through CVA Property Consultants and No Agent Property Moorabbin; and
• Unit 4 at 54 Newquay Promenade, Docklands, a 236-sqm shop, available through MP Burke Commercial.

Leasing opportunities in the April 2016 update of Docklands Cityscope include:

• Aurecon Centre, an eight-storey office building with retail space and parking on the ground floor at 850 Collins Street, which has up to 6,464 sqm of office space for lease through Colliers International and CBRE;
• Ericsson Commercial Tower, a ten-storey office building with retail space on the ground floor and three levels of parking at 818 Bourke Street, Docklands, which has up to 3,600 sqm of office space for lease through JLL; and
• The Gauge, an eight-storey office building with retail space and parking on the ground floor at 825 Bourke Street, Docklands, which has office space of up to 1,508 sqm for lease through CBRE.