Docklands commercial property sales down in value and number: Cityscope

Commercial property sales in the Docklands have decreased in number and in total sales value, according to CoreLogic’s Cityscope.

For the quarter to January 2017, there were eight sales at a total sales value of $78.8 million, compared to 10 sales at a total value of $186 million for the previous quarter, said the property data firm. 

The yearly figures have declined in number and total value, with 37 sales at a total value of $297.8 million for the twelve months to January 2017, compared to 51 sales at a total value of $524.6 million for the previous year.

The table below shows sales recorded for the past eight updates of Docklands Cityscope.

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Notable sales in the January 2017 update of Docklands Cityscope include:

• The Gauge at 825 Bourke Street, an eight-storey office building completed in 2008 and with a net lettable area 10,362 sqm, which sold for $72.7 million through Colliers International and
• Unit 13 in The Palladio at 42 Newquay Promenade, a 323 sqm retail area on the south-western corner of the property, a series of integrated buildings with ground floor retail units and apartments above, which was bought for $2 million through MP Burke Commercial – Melbourne.

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Properties listed as for sale in the January 2017 update of Docklands Cityscope include:

• Shop 1 at 439 Docklands Drive, a 200-sqm retail premises on the ground floor of the west building available with an asking price of $1.8 million through No Agent Property – Moorabbin;
• Suite 815 at 401 Docklands Drive, a commercial unit on the east corner of level 8, Suite 816, 401 Docklands Drive, a commercial unit on the west corner of level 8, Suite 817, 401 Docklands Drive, a commercial unit on the east corner of level 8 and Suite 818, 401 Docklands Drive, a commercial unit on the south-east corner of level 8 available together through Colliers International – Geelong.

Leasing opportunities listed in the January 2017 update of Docklands Cityscope include:

• 737 Bourke Street, an 11-storey building completed in late 2008, comprising 16,000 sqm of office space and 1,100 sqm of retail premises plus basement car parking for 231 cars, has 1,300 to 1,345 sqm for lease through CBRE – Melbourne and Investa Property Group;
• The Gauge at 825 Bourke Street, an eight-storey office building completed in 2008 with ground floor car parking, has office space of 335 to 1,508 sqm for lease through CBRE – Melbourne and
• 380 Docklands Drive, an A-Grade, 11-storey office building with parking, has office space of 1,000 sqm for lease Colliers International – Melbourne and CBRE – Melbourne.