Commercial Market Update – Richmond Cityscope

The latest research from Richmond Cityscope shows property sales have decreased in the past three months. Sales recorded in the quarter ending November 2016 totalled $57.2 million, a decrease from the $96.5 million recorded in the three months to August 2016 but an increase from the $47.6 million recorded to May 2016. This data brings the 12-month total to $234.3 million, an increase from the $203.7 million recorded for the same time last year.

The data for this update of Richmond includes sales from the past two years in the additional 17 maps that have been added to the coverage area.

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

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Notable sales in the November 2016 update of Richmond Cityscope include: 

  • 630 Church Street, Richmond, a five-storey office building including a 2-level basement car park for 78 cars. Total building area is 3,184 sqm comprising 1,010 sqm of showroom space and 2,174 sqm of office space, was sold for $23.5 million;
  • 1-9 Gordon Street, Cremorne, a single-storey commercial building with a site area of 852 sqm parcel, was sold for $4.55 million; and
  • 107 Palmer Street, Richmond, a two-storey industrial/commercial building with a building area of 1,309 sqm, was sold for $4.06 million.

Richmond Cityscope Quarterly Sales

Properties listed as for sale in the November 2016 of Richmond Cityscope include:

  • 196-198 Bridge Road, Richmond, a 2-storey retail brick building with a single-storey section to the rear situated on a 260 sqm block, is for sale by negotiation through TCI Property Consultants;
  • 133 Green Street, Cremorne, a vacant land of 131 sqm with a development approval for the construction of a three level office building, is for sale through Morley Commercial; and
  • Lot 9 of Skipping Girl Place at 651-653 Victoria Street, Abbotsford, a commercial unit located on level one, is for sale through Gross Waddell.

Significant leasing opportunities in Richmond in November 2016:

  • Abbotsford Office Park at 675 Victoria Street, Abbotsford, a four-storey office building with car parking for 110 vehicles, which has 400 – 1,800 sqm of office space for lease through Colliers International;
  • 43 Elizabeth Street, North Richmond, an eight-storey office building with 346 undercover parking spaces, which has 1,871 sqm of office space for lease through Colliers International;
  • 74 Wellington Parade, East Melbourne, a two-storey building, which has 80 sqm of retail space for lease through Teska Carson Richmond; and
  • 543 Bridge Road, Richmond, a six-storey retail and office building, comprising office space on the upper levels, 900 sqm retail space on the ground level and two basement car parking for 91 cars, which has 550 – 785 sqm on level 4 for lease through Colliers International (Clayton).

 

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 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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