Blog

July 09, 2020

Commercial Market - Brisbane Fringe

Cityscope’s recent research on the property sales in Brisbane Fringe recorded a total of $538.7 million from 62 sales in the 12 months before the beginning of May 2020. The figure was $696.7 million less than the $1.23 billion in recorded sales during the same time period the year before.

There was a total of 15 recorded sales in Brisbane Fringe equalling $216.5 million over the three months before February 2020, which was comprised of $194.7 million commercial sales, $10.5 million in other sales, and $6.5 million retail sales, with $3.8 million commercial strata and $100 thousand for retail strata.

These numbers remained steady with the 12 recorded sales in the most recent three months up to May 2020, but the sales figures have decreased to $69.5 million total. This was made up of just over $60.0 million commercial sales and $4.0 million for other sales, with just over $2.5 million and $2.0 million for retail strata and commercial strata, respectively. 

Adding up to over $63 million, the most significant recorded sales over this quarter in Brisbane Fringe include $34.0 million for Terrace Office Park, and $3.7 million for the level 3 strata title office in the Mosaic building. Also included was $26.0 million for two different four-storey office buildings which were 159 Coronation Drive and 5 Cribb Street in Milton for to W159Corro Pty Ltd as trustee for the 159 Coronation Unit Trust. Originally developed together in 1984, they were last sold in 2009 for $20 million.

Some of the currently listed properties for sale in the Brisbane Fringe suburb of Fortitude Valley include offers over $1.3 million for 273 Water Street, two-storey Amelia Hotel with a ground floor cafe located at 33 Amelia Street, and the two-storey office building with an asking price of $2.1 million at 37 Baxter Street which was completed in 2008.