Fri. May 20th, 2022

The latest research from the Canberra Cityscope shows that both property turnover and value have increased in the last three months.

Sales recorded in the quarter to June 2021 amounted to $ 347.9 million from 40 sales, an increase over $ 12 million from 16 sales recorded in the quarter to March 2021 and an increase from $ 28.3 million on 25 sales recorded in the three months to December 2020.

The total sales for June 2021 were largely contributed from the sale of a commercial office building in Tuggeranong, which sold for $ 306 million.

The data brings the total in 12 months to $ 528.3 million, down from the $ 854.2 million recorded at the same time last year.

The table below shows sales recorded for the last eight updates of the Canberra Cityscope.

Notable sales in the June 2021 update of the Canberra Cityscope include:

  • Louisa Lawson Building at 25 Cowlishaw Street, Tuggeranong, a 26,000-square-foot A-Grade campus-style office building over four commercial areas, with on-site parking for over 500 vehicles on a 21,426-square-foot block, purchased for $ 306 million and
  • Capital Center at 2-6 Shea Street, Woden, a two-story commercial building comprising 4,500 sqm of office and retail space completed in 2010 with on-site parking for 100 cars. The building was designed to achieve a 5-star Green Star rating and a 4.5-star NABERS Energy rating built on a block of 4,487 sqm, which was purchased for over $ 18.75 million.

Properties listed as for sale in the update of Canberra Cityscope in June 2021 include:

  • Alan Woods Building at 25 Constitution Avenue, Canberra City, a seven-story office building with basement parking for 178 cars, built in 1988. The property with a net laying office area of ​​16,927 sqm is sold through CBRE and JLL;
  • Scarborough House on 8 Atlantic Street, Woden, a 14-story office building built in 1972 and remodeled in 2005, which includes the extension of the existing basement, a new facade and the construction of a new podium. The property with a net rental area of ​​16,782 sqm has 47 parking spaces in the basement and is for sale via JLL and Colliers International;
  • Unit 55 at The Gallery, 40 Mort Street, Braddon, a 269 sqm retail / commercial suite on the ground floor plus two parking spaces of 14 sqm and 61 sqm on level one, which are for sale through Burgess Rawson.

Leasing options in the update of Canberra Cityscope in June 2021 include:

  • 12 Moore Street, City, a 14-story building with two levels of basement parking; built in 1987 and renovated in 2002, 2004 and 2008. The building with a net rental area of ​​11,970 sqm, has office space from 75 to 8,625 sqm for rent through Colliers International;
  • 4 Mort Street, City, a six-story office building with undercover parking for 16 cars; built in 1985. The building with a net layable area of ​​5,482 sqm was extensively renovated in 1997 and late 2017, which has office space of 700 sqm on level 1, 1,008 sqm each on levels 2, 3 and 4 for rent through Raine & Horne Commercial – Canberra and
  • 33 On Allara Street, City, an eight-story commercial building consisting of retail space on the ground floor, seven office spaces and two floors in basement parking for 131 cars. The property was officially opened in 1973 and has a net rental area of ​​9,888 sqm, which has office space of 1,310 sqm on level 1, 202 to 518 sqm on level 2, 206 sqm on level 4, 530 sqm on level 3 for rent through JLL.

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