By Commercial Research

Brisbane Fringe Cityscope Quarterly Sales

The latest research from Brisbane Fringe Cityscope shows property sale numbers have decreased in the past three months. The last three months to the beginning of February 2016 recorded 29 sales for a total of $305.5 million, with $145.4 million for commercial, $6.7 million for commercial strata, $115.3 million for retail, $1 million for retail strata and $37.2 million for other.

In comparison, the last three months to the beginning of November 2015, recorded 39 sales for a total of $133 million, with $74.5 million for commercial, $14.9 million for commercial strata, $1.8 million for retail, $16.2 million for retail strata and $25.7 million for other.

The 12 months leading up to early February 2016 recorded 144 sales for a total of more than $859.6 million, over $361.6 million more than the same time last year.

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

Together the top three sales recorded this quarter total over $176 million, these sales include:

  • 108 Wickham Street, Fortitude Valley sold for $79 million to a subsidiary of Centennial Property Group Pty Ltd. Bruce Baker and Flint Davidson of CBRE Brisbane negotiated the sale which represented an initial yield of 7.66% on passing income of just over $6 million. 108 Wickham Street is a six storey office building which was completed in 2008.
  • 100 Wickham Street, Fortitude Valley sold for $50 million to 100W Pty Ltd, as trustee for the 100W Property Trust. Justin Bond and Ben McGrath of Knight Frank Brisbane negotiated the sale in conjunction with Jason Lynch and Tom Phipps of Colliers International Brisbane. 100 Wickham Street, formerly known as Communication House, is a 14 storey office building which was built in 1973.
  • Carrington Chambers (143 Wickham Street, 145 Wickham Street, 147 Wickham Street, 149 Wickham Street and 153 Wickham Street) and China Town Car Park (31 Duncan Street), Fortitude Valley were bought together for $47.8 million by AM Valley Heart Pty Ltd. TCB on Brunswick (315 Brunswick Street) was also purchased by AM Valley Heart Pty Ltd for $31.2 million. Jason Lynch and Tom Phipps of Colliers International Brisbane negotiated the sales.

Properties for sale include:

  • 436 Upper Roma Street and 444 Upper Roma Street Brisbane – a two storey bed and breakfast and a two storey office building set above ground floor car parking. For sale by negotiation; agent, Harcourts Solutions Inner City (Diana Mitchell).
  • 16 Baxter Street to 28 Baxter Street, Fortitude Valley – a two storey office/warehouse building and a single storey office/warehouse building. For sale by expressions of interest; agent, Elders Commercial Brisbane (Carl Charalambous).
  • 40 Astor Terrace, Spring Hill – Punthill Brisbane Apartment Hotel building with ground floor retail space. For sale by expressions of interest; agent, JLL Hotels and Hospitality Group Sydney (Paul Fraser and Peter Harper). This property was advertised in late 2015 with a net income of around $1.53 million per annum.

Brisbane Fringe Cityscope Quarterly Sales graph
Properties under contract (conditional or unconditional) include:

  • 31 Hope Street, Spring Hill – a small, single storey, brick house converted for office use and a two-storey brick extension to the rear. Under contract unconditionally in mid-2015, with settlement expected in early 2016; agent, Wright Property (James Ralph and Matthew Holloway).
  • 21 McLachlan Street, Fortitude Valley – a two storey office building. Under contract unconditionally; agent, Ray White East Brisbane (Garry Price).
  • 375 Wickham Terrace, Spring Hill – Industry House, a two storey plus basement office building. Under conditional contract; agent, JLL Brisbane (Sam Byrne and Seb Turnbull).

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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Source: RPD

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