Blog

July 09, 2020

Commercial Market - Brisbane CBD

According to Brisbane Cityscope’s latest research, there were 78 sales recorded for the 12 months prior to May 2020 for a recorded total of around $3.06 billion. This total is $534.8 million higher than the 12 months leading up to May 2019.

While the number of property sales have increased over the last three months up to the beginning of May 2020, the same research also shows that sales figures themselves have actually dropped. There were 10 sales recorded totalling $474.7 million, which was made up of $469.3 million commercial and $4.6 million commercial strata, with retail strata accounting for $800,000.

The three most significant sales for this quarter was Central Plaza Two at 66 Eagle Street for $365 million, the Charlotte Exchange building for $50 million, and 410 Queen Street’s 410Q for $53.5 million, which was most recently sold for just under $29 million back in 2011.

This is in comparison to the last three months leading up to February 2020 which had 38 sales recorded for $819.3 million total. This included $672.9 million commercial sales, $35.5 million commercial strata, and $7.8 million retail strata, with $103.1 million for other properties.

Properties that are currently listed for sale in Brisbane’s CBD include the building at 63 Adelaide Street, the State Law Building which is locally known as Gotham City, and former Ryan and Bosscher House which was built in 1916 at 331 George Street.

We’re certainly living through some extraordinary and unprecedented times. While circumstances are constantly changing and updating, we can navigate these difficult times by working together.