Commercial Market Update – Canberra Cityscope

The latest research from Canberra Cityscope shows property sales decreased in the past three months. Sales recorded in the quarter ending December 2015 totalled $87.7 million, a decrease from the $92.5 million recorded in the three months to September 2015, and a decrease from the $149.8 million recorded in the three months to June 2015. This data brings the 12 month total to $336 million, an increase from the $314.6 million recorded the same time last year.

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

Canberra Cityscope Quarterly Sales

 

Recent standout sales in Canberra include:

  • The AusAID Building at 255 London Circuit, City; an 11 level, 8,972 sqm office building with parking for 134 cars, was bought for $70,025,000 in a sale handled by JLL Sydney and JLL Canberra.
  • 33 Egan Court Belconnen, a single level, 1,725 sqm medical centre with parking for 60 cars, was bought for $8,650,000 in a sale handled by Burgess Rawson.
  • Guilfoyle House at 151 Oakden Street, Tuggeranong; a single storey, 1,500 sqm office and warehouse with parking for 130 vehicles, was bought for $4 million in a sale handled by Colliers International.

Properties for sale in Canberra in December 2015 include:

  • 40 Cameron Avenue, Belconnen, a 5 storey A-grade office building with parking for 221 vehicles; is for sale through Colliers International Canberra. Book value of the building was at $42.5 million in December 2014.
  • Eclipse House at 197 London Circuit, City; a 10 storey, 6,567 sqm office building is for sale through Colliers International Canberra. The building last traded at $11.8m in April 2002.
  • 14 Wales Street, Belconnen, a 2 storey, 3,800 sqm high-clearance warehouse building with parking for 25 vehicles, is for sale through CBRE.  The building was built as a secure facility for the then Commonwealth Department of Civil Aviation and last traded at $6.4m in January 2010.

Canberra Cityscope Quarterly Sales graph

Significant leasing opportunities in Canberra in December 2015 include:

  • 40 Cameron Avenue, Belconnen, a 5 storey A-grade office building with parking for 221 vehicles; has office space of 500 to 9,470 sqm through Knight Frank and JLL Canberra.
  • 33 Allara Street, City, an 8 storey, 9,900 sqm commercial building with retail on the ground floor and basement parking for 131 vehicles; has office space of 650 to 9,215 sqm for lease through Knight Frank and Colliers International.
  • 14 Moore Street, City, a 14 storey, 11,100 sqm B-grade office building with basement parking for 79 cars; has office space of 6,060 sqm through Colliers International and Raine & Horne Commercial Canberra.

 

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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