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Corelogic RP Data Pty Ltd.

09/22/2021 | News release | Distributed by Public on 09/21/2021 20:23

Commercial Market Update - Melbourne Units Cityscope August 2021

Sales recorded for Melbourne Units Cityscope for the three months to August 2021 totalled $321.3 million from 487 sales, a decrease compared to the $500.9 million from 758 sales recorded in three months to May 2021, and the $517.5 million from 718 sales recorded for the quarter to February 2021.

The latest data brings the twelve-month sales total close to $1.835 billion, an increase from the previous twelve months, which recorded sales of close to $1.093 billion.

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

Some notable sales featured in the August 2021 update of Melbourne Units Cityscope include:

  • Unit 3807 in Collins Arch at 433-455 Collins Street, Melbourne, a mixed-use development with a twin-tower, comprising 49,000 sqm of office space, 202 apartments and a 5-star hotel with 294 rooms known as the W Hotel. Unit 3807 is a north facing 2-level residential apartment with entrance on level 38 and a wrapped around terrace on level 39 in the West Tower plus three car spaces on basement level 3, and storage areas on basement levels 3 and 4, which was bought for $6.5 million through Colliers Collins Arch;
  • 16 residential apartments in Queens Place at, 350-376 Queen Street, Melbourne, stage 1 of Queens Place development, to be twin towers of 80 storeys, 1,600 apartments and 8,000 sqm of office and retail space, currently under construction. The 16 units including Unit 808, Unit 809 and Unit 811, all south facing on level 8; Unit 911, south facing on level 9; Unit 1108, south facing on level 11; Unit 1209 south facing on level 12; Unit 1310, south facing on level 13; Unit 1408, Unit 1409 and Unit 1411, all south facing on level 14; Unit 1510, south facing on level 15; Unit 1808 and Unit 1810, south facing on level 18; Unit 2210 and Unit 2211, both south facing on level 22 and Unit 2508, south facing on level 25, were bought together for over $6.116 million and
  • Top level of the building at 183-185 Flinders Lane, Melbourne, a 7-level building including a basement, a ground and first-floor showroom/gallery, and residential apartments on floors above, plus a rooftop garden; completed in 1924, refurbished 1992. The entire level 5 of 346 sqm was bought for $4.3 million through Colliers International Melbourne.