Commercial property sales on the fringes of Brisbane have increased in the last quarter, according to Cityscope.

The last three months to the beginning of August 2019 recorded 18 sales for a total of $197.2 million, $41.2 million for commercial, $4.1 million for commercial strata, $124.8 million for retail, $300,000 for retail strata and $26.9 million for other.

In comparison, the last three months to the beginning of May 2019 recorded 20 sales for a total of $67 million, $8.3 million for commercial, $11.7 million for commercial strata, $29.7 million for retail, $4.6 million for retail strata and $12.7 million for other.

The 12 months leading up to early August 2019 recorded 91 sales for a total of $1.27 billion, more than $388 million more than the same time last year.

Significant sales recorded this quarter total over $160 million, these sales include:

• TCB on Brunswick in Fortitude Valley has been bought for $117.5 million by AMA APAC (Qld) TCB Pty Ltd. The centre has been extensively refurbished over the last few years and comprises retail/food tenancies over the ground and first floor and upper level office space. The centre has frontages to both Brunswick Street and Duncan Street.
• 6 Gardner Close, Milton was sold for $25.23 million to Harmony Milton Pty Ltd as trustee for the Harmony Milton Unit Trust. Christian Sandstrom, Matt Barker and Justin Bond of Knight Frank Brisbane negotiated the sale in conjunction with Glen Wright and Nick Spiro of Cushman & Wakefield Brisbane. The sale represented an initial yield of 7.11% on a passing income of $1,794,621 (net). The five-storey, 4,271 sqm office building was recently refurbished and includes a ground floor cafe and car parking for 102 vehicles.
• Punthill Brisbane Apartment Hotel on Astor Terrace in Spring Hill has been bought for $17.96 million by Desin Group Australia Pty Ltd. The apartment hotel building was last purchased in 2012 for $12.5 million. It includes a Jak and Hill cafe/restaurant on the ground floor, first floor office space tenanted by Mondo Architects and around 70 apartment/hotel suites.

207 Wharf Street, Spring Hill. For sale by offers to purchase; agents, Knight Frank Brisbane (Matt Barker and Christian Sandstrom) and Savills Brisbane (Peter Chapple and Jack Morrison). Source: Knight Frank

Properties for sale include:

• 275 Brunswick Street, Fortitude Valley. A two-storey, 330 sqm office building. Scheduled for auction on August 29, 2019; agent, McGees Property (Elliott Clarke and Justin Clarke). The property has not been listed for sale for over 20 years.
• 207 Wharf Street, Spring Hill. The former Australian Federal Police Building, a four-storey office building. For sale by offers to purchase; agents, Knight Frank Brisbane (Matt Barker and Christian Sandstrom) and Savills Brisbane (Peter Chapple and Jack Morrison).
• 39 Alfred Street, Fortitude Valley. A single-storey, 285 sqm brick building. For sale by negotiation; agent, Belle Property (Ivo Kornel).

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