The latest research from Melbourne Cityscope shows that commercial property sales value has increased significantly in the past three months, due to the sale of 80 Collins Street. 

Sales recorded in the quarter ending June 2019 totalled $1.897 billion from 48 sales, compared to the $615.4 million from 52 sales recorded in the three months ending March 2019 and the $621.5 million recorded in the three months ending December 2018.

This data brings the 12-month total to close to $3.686 billion from 214 sales, an increase from the previous 12-month total of $3.077 billion from 273 sales. 

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

The most notable sales recorded for the June 2019 update of Melbourne Cityscope include:

• 80 Collins Street, Melbourne, comprising an existing 52-storey office tower, completed in 1977; a new office tower of 38-level, a 255-room hotel and a 5,800 retail plaza connecting the three towers, which are under construction, which was sold for $1.476 billion in a deal handled by JLL Sydney and Savills Melbourne;
• 31 Queen Street, Melbourne, a 22-level office building plus five levels of basement parking for 172 cars, with a net lettable office area of 19,213 sqm, which was sold for $200 million; and 
• Invicta House at 226-232 Flinders Lane, Melbourne, an 8-storey office building including a basement, with a gross building area of 4,832 sqm on a site of 741 sqm, which sold for $45 million.

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