Commercial sales in the quarter to September declined in both Perth and Canberra, according to CoreLogic’s Cityscope reports.

In Perth, commercial sales slumped to $54.2m, significantly lower than the $158.2m recorded during the June quarter. The difference is more apparent compared to the $643.2m sales recorded in the three months to March.

A substantial decrease was also recorded in Canberra — from $380.2m in June, sales went down to $191.8m.

The two cities, however, recorded an increase in terms of 12-month sales total — from $571.3m to $1.045bn in Perth and from $413.7m to $651.8m in Canberra.

Some notable sales in Perth and Canberra are the following:

Perth Commercial Sales Highlights

  1. A seven-level office building at 180 Hay Street, East Perth was sold for $12.59m. This building has office spaces over four levels, incorporating training and meeting rooms, function rooms, display areas, and multi-level parking for 121 cars behind. The building has a gross floor area of 6,066 square metres and a net lettable area of 4,925 square metres.
  2. A 5,666-square metre paved land currently being used for car parking was sold for $11.25m. The site comprises a single-storey building with on-site parking for 11 cars at 42 Ord Street and a three-storey office building at 44 Ord Street, with parking for 24 cars.

Canberra Commercial Sales Highlights:

  1. The midnight development at 92-96 Northbourne Avenue, Braddon will be a nine-storey building comprising 250 residential apartments, a 180-room Abode Hotel, 2,500-square metre commercial and retail space on the ground level. It has three levels of basement parking. The site was sold for $124.43m.
  2. A six-storey office and retail building at 40 Allara Street was bought for $23m. The building was built in 1973. It has a single-storey annex to the north and basement parking for 17 cars.
  3. A two-storey concrete brick building at 30 Mort Street, Braddon, which was completed in 2007, was bought for $10.6m. It has a built-in docking area and underground parking for 65 cars.

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