Commercial Market Update – Wellington Cityscope

The latest research from Wellington Cityscope shows that commercial property sales have increased in total sales value in the last quarter. For the three months to April 2017, there were 12 sales at a total value of $161.8 million, compared to 19 sales at a total value of $111 million for the previous quarter. The yearly figures show that both the number of sales and the total sales value has decreased considerably. For the 12 months to April 2017, there were 60 sales at a total value of $393.9 million, compared to 97 sales at a total value of $666.7 million for the previous 12 months.

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

Notable sales in the April 2017 update of Wellington Cityscope include:

  • The 125-year leasehold of The PwC Centre Site 10 development at 10 Waterloo Quay, Pipitea, a development site at earthworks stage in April 2017, which was to have been a four-storey office building with typical floor plates of 2,000 and basement car parking with ground level retail, which sold for $89.2 million;
  • 89 The Terrace and Lambton Square & Eatery, at 89 The Terrace, Wellington Central, a 14-level building with ground floor retail and a net lettable area of 16,920 sqm, which sold for $57 million and
  • 203-209 Willis Street, Te Aro, a nine-storey office building with basement parking for 22 cars and a building area of 4,770 sqm on a site area of 1,170 sqm, which sold for $5.6 million.

Wellington Cityscope Quarterly Sales

Properties listed as for sale in the April 2017 update of Wellington Cityscope include:

  • 191-195 Cuba Street, Te Aro, a three-storey building with shops on the ground floor and galleries above, available through Bayleys Wellington;
  • 204-210 Willis Street, Wellington Central, a six-storey office building, including ground and mezzanine floors, with retail on the ground floor, offices above, and 10 car spaces to the rear, available through CBRE and
  • Champerelle Building, 6 Edward Street, Te Aro, a three-storey former factory/warehouse built in 1905 with upper levels now being residential apartments, available through Bayleys Wellington.

Leasing opportunities listed in the April 2017 update of Wellington Cityscope include:

  • Eagle Technology House, at 135 Victoria Street, Te Aro, an 11-storey office building comprising retail on the ground floor, first floor parking for 33 cars and nine office floors, which has office space of 5,000 sqm available through CBRE;
  • Harbour City Tower and Shopping Centre, at 179-193 Lambton Quay, Wellington Central, an eight-storey office to Lambton Quay with four storeys to Brandon and Panama Streets and car parking in Harbour City Car Park, which has office space up to 4,755 sqm available through Bayleys Wellington.
  • MWH House, at 123 Taranaki Street, Te Aro, a four-storey office building with parking for 23 cars has levels 1, 2 and 3 available through Colliers International.

 

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.


Subscribe to the free Commercial Pulse eNewsletter
Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe

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.

Connect with CoreLogic

Enter your email address to subscribe to our e-newsletter, and have new posts delivered via email. You can also connect with CoreLogic on social media.

No comments yet.

Leave a Reply

Notify me of followup comments via e-mail. You can also subscribe without commenting.