BMW has appointed CBRE to market their enormous 6,191 sqm* site, which currently comprises the automotive giant’s flagship sales showroom in Melbourne. The highly anticipated offering is the last landmark holding of global significance in Melbourne’s premier precinct for mixed-use developments and will be of great interest to developers from across the world. (more…)
An iconic piece of St Kilda’s history is being offered for sale, unlocking a rare opportunity to acquire a substantial and unique property and landholding on the highest point in St Kilda, on the famed ‘St Kilda Hill’. (more…)
A prominent, 7 level commercial office building in the ever popular St Kilda Road precinct is set to hit the market – unlocking a rare opportunity for investors, owner occupiers and developers. (more…)
CBRE is preparing to sell Victorian properties valued at over $70 million at its inaugural Premium Property Portfolio Auction (PPPA).
•National CBD office vacancy continues to tighten, estimated at 10.3% as at June 2017. Vacancy is expected to trend down until 2020, driven by limited supply across all markets.
•The Melbourne office market has performed strongly over H117 exhibiting the highest level of effective rental growth of all CBD office markets, and overtaking Sydney’s rental growth rate in Q217.
•Sydney’s growth is easing with the white collar employment growth rate slowing to 0.7% y-o-y in Q117 and enquiry levels down. This has slowed the rate of rental growth, although prime net effective rental growth is still forecast to exceed 10% in 2017.
•In Perth, after two consecutive quarters of stabilisation in face rents, Q2-17 saw further declines, with secondary face rents falling substantially by -4.4% and prime by -0.8%. Incentives continued to increase, up to 52% for prime and 54% for secondary.
•National office transaction activity is down 30% in H117 versus H116. Yield compression was a key feature of Q217 with prime and secondary yields down by 20-30bps across the east coast office markets.
Annual en bloc commercial property transaction volume in China is set to surge by 45% to RMB 260 billion by 2020, according to a new forecast by CBRE Research, as the country transitions from a primary market dominated by investment for development, to a secondary market characterised by investment in income producing assets.
The prominent Woolworths Ivanhoe supermarket has been listed for sale, providing an opportunity to purchase a prime retail asset in one of Melbourne’s most affluent suburbs. (more…)