The latest research from Brisbane Fringe Cityscope shows property sale numbers have remained steady but sales figures have increased in the past three months.

According to the data, last three months to the beginning of February 2020 recorded 15 sales for a total of $216.5 million, with $194.7 million for commercial, $3.8 million for commercial strata, $6.5 million for retail, $100,000 for retail strata and $10.5 million for other. 

In comparison, the last three months to the beginning of November 2019 recorded 17 sales for a total of $55.5 million, with $4.3 million for commercial, $3.7 million for commercial strata, $5 million for retail, $200,000 for retail strata and $42.4 million for other. 

The 12 months leading up to early February 2020 recorded 70 sales for a total of $536.1 million, more than $693.2 million less than the same time last year.

An 11-storey office building at 757 Ann Street, Fortitude Valley was sold for around $94 million on an initial yield of 6.6 per cent, with the settlement expected in April 2020.

Source: Cityscope 

The 9,422 square metre building includes ground-floor retail space, nine levels of office space, a rooftop bar and car parking for 48 vehicles.

The sale was negotiated by Mike Walsh and Peter Court of Cushman and Wakefield Brisbane. 
 
The pair also negotiated the sale of two office buildings at 19 Lang Parade, Milton, which were sold off-market for $85.2 million to Nikos Property Group Pty Ltd, representing an initial yield of 8.35 per cent on a passing income of $7,114,200 (net).

The site includes a two-storey building, known as Terrace Suites, which was built prior to 1990 and sits behind a seven-storey commercial building, which was built in 2009 and extended by one floor in 2011.  

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