Commercial Market Update – Docklands Cityscope

The latest research from Docklands Cityscope shows property sales have increased dramatically in the past three months, the result of several large sales. Sales recorded in the quarter ending October 2015 totalled $164.2 million, a substantial increase from the $11.2 million recorded in the three months to July 2015, but a decrease from the $220.5 million recorded to April 2015. This data brings the 12-month total to $658.9 million, a decrease from the $1.126 billion recorded over the previous year.

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

Docklands Cityscope Quarterly sales

The standout sales during this period in Docklands were:

  • Spencer Outlet Centre, 237-261 Spencer Street, Docklands, a three level retail development of 23,000 sqm with a total of 115 fashion and homeware stores, plus six food courts with 16 food outlets and cafes, which was bought for approximately $125 million, brokered by McVay Real Estate
  • 685 La Trobe Street, Docklands, vacant land of 4,411 sqm, used as a car park by TV Channel 7, which was bought for $31.5 million, brokered by CBRE.

Properties for sale in Docklands in October 2015 include:

  • 1000 La Trobe Street, Docklands, vacant land of 7,075 sqm offered for sale as a potential residential development site, available through Colliers International
  • 35 Newquay Promenade, Docklands, a one storey building constructed in a cone shape and designed for the purveyance of ice-cream and gelato, available through Hockingstuart Commercial.

Docklands Cityscope Quarterly Sales graph

Significant leasing opportunities in Docklands in October 2015 include:

  • 850 Collins Street, Docklands, an eight storey office building with retail space on the ground floor, which has commercial areas of 550 to 6,464 sqm available for lease through Colliers International and CBRE
  • 720 Bourke Street, Docklands, a 22 storey, 47,000 sqm A-grade office building with 70 car parking spaces, which has 650 to 6,540 sqm available for lease through Colliers International and Knight Frank.

 

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 RP Data products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.


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About Commercial Research

CoreLogic RP Data Commercial Cityscope is a web-based service. Access is sold by geographic regions (Cityscope areas). There are 25 geographic regions across Australia (three in New Zealand), clustered around the cities of Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra and Newcastle. Darwin and Hobart CBD centres aren’t covered. Cityscope Areas in NSW and QLD also include lease expiry data for the most complete commercial coverage available. For more information call 1300 734 318.

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