Commercial Market Update – Brisbane South Cityscope

Brisbane South Cityscope

The latest research from Brisbane South Cityscope shows property sale numbers have decreased in the past three months. The last three months to the end of May 2016 recorded 13 sales for a total of over $44.6 million; with $21.5 million for commercial, $900,000 for commercial strata, $2.4 million retail, $1.3 million for retail strata and $18.5 million for other. In comparison, the three months to the end of February 2016 recorded 14 sales for a total of over $130.8 million; with $90.8 million for commercial, $8.6 million retail, $700,000 for retail strata and $30.7 million for other.

The 12 months leading up to the end of May 2016 recorded 55 sales for a total of over $303 million, over $221.7 million lower than the recorded figure for the same time period the year before.

The table below shows sales recorded for the past eight updates of Brisbane South Cityscope:

Brisbane South Cityscope Quarterly Sales

The top three most significant sales recorded this quarter together totalled over $31.45 million.

  • 176 Montague Road, South Brisbane, a high-clearance warehouse a mezzanine level and two retail tenancies to Montague Road; refurbished in 2014. Sold for $17 million  to Ralaxis Pty Ltd, as trustee for The Montague Unit Trust. Gross floor area, 1,765 sqm.
  • 8 Hockings Street, South Brisbane, a two-storey building with 600 sqm of office space and 550 sqm of high-clearance warehouse space. Total building area, 1,150 sqm. Bought for $7.45 million  by Excelcorp Pty Ltd, as trustee for The Excel Trust.
  • 188 Vulture Street, South Brisbane, a three-level building with 444 sqm of office space, a 270 sqm high-clearance warehouse on the lower ground floor and a 150 sqm mezzanine level. Total area, 864 sqm. Bought for $7 million by Perpetual Trustee Company Limited, as trustee.

Properties listed for sale include:

  •  8/220 Melbourne Street, South Brisbane. An 81 sqm unit on the ground floor to Melbourne Street. Scheduled for auction on June 15, 2016; agent, CBRE (Callum Short and Lachlan Tully). The unit was advertised with a net income of $72,128 per annum.
  • 74 Tribune Street, 78 Tribune Street and 80 Tribune Street, South Brisbane. A two-storey office/warehouse building and two, two-storey office buildings. For sale by together as a development opportunity, by expressions of interest, closing June 1, 2016; agent, Colliers International Brisbane (Pat George and Brendan Hogan).
  • 13 Cordelia Street, 15 Cordelia Street and 17 Cordelia Street, South Brisbane. Three, two-storey office buildings. For sale together as a development opportunity, by expressions of interest (Michael Gard and Andrew Gard).

Brisbane South Cityscope Quarterly Sale Graph

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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