Sales recovery in Perth
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Melynda Dillon |
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| The latest research from Cityscope regarding sales in Perth’s major commercial centres shows the market picking up. | |
Sales over the three months to May 2009 totalled over $95 million, which was up from the last quarter of $39.7 million, but down from the quarter before of $237 million.
The latest data raises the 12 month total to over $685 million, significantly below the $1366.7 million recorded for the same time the year before.
Recent standout sales in Perth include:
> St Georges Centre, 81 St Georges Terrace, Perth (sold for $38 million to Aviling Pty Ltd) - a 14-level building with lower ground and basement car parking, ground floor retail and upper level offices; developed by AFT in 1987 and refurbished in 2005/06. A typical upper floor is around 1,159 sqm, with a total net lettable area of 11,860 sqm.
> 31 Ventnor Avenue, West Perth (sold for $13.9 million to Pebble Beach Holdings Pty Ltd; agent, CB Richard Ellis) - formerly Bartholomew House, a 4-storey office building above lower ground level parking for 52 cars; fully refurbished in 2006. A typical upper floor is 575 sqm with total net lettable area 1928 sqm.
> 1178 Hay Street, West Perth (sold for $10 million to 1174 Hay St Pty Ltd, a subsidiary of Diploma Construction (WA) Pty Ltd; agent, Blackburne Property Group) - a 4-storey building with an additional lower ground floor to the rear, plus a rear yard used for parking for 69 vehicles. The building was opened for the CWA in 1968 and formerly known as CWA House. It is the site of the proposed Eleven78 development, comprising 35 apartments and 33 office suites. Developer will be Diploma Property.
> Unit 111, 12-14 St Georges Terrace, Perth (sold for $8.1 million to Lastol Pty Ltd) – a 12-storey office building formerly known The Grosvenor. A typical upper floor is 1200 sqm with total net lettable area 12,643 sqm and a height of 45 metres. Unit 111 is a 128 sqm office on the ninth floor; it has a 15 sqm car park in the basement and a unit entitlement of 1.24%.
> Devon House, 729 Hay Street, Perth (sold for $4.6 million to Hoang Properties Pty Ltd) – a 6-storey, sandstone-coloured building, constructed in 1938 in art deco style. Architect, William T Leighton. Net lettable area 394 sqm.
Cityscope covers 28 Central Business Districts nationally covering every building within the commercial areas.
Details on each property include building descriptions, tenants, full ownership details, development detail and sale history.
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