Burke Road, Camberwell commercial property sale values fall

The latest research from Burke Road Cityscope shows sales value has decreased in the quarter to August 2018.

In the latest quarter, there were six sales at a total value of $6 million, compared to the five sales at a total value of $10.8 million in the previous quarter.

This quarter brings the 12-month total to $85.8 million of 20 sales, an increase compared to the 28 sales at a total value of $58.5 million over the previous year.

The table below shows sales recorded for the past eight updates of Burke Road Cityscope.

Click here to enlarge:

Notable sales in the August 2018 update of Burke Road Cityscope include:

• 5 Redfern Road, Hawthorn East (pictured below), a single-storey former house converted to use as an office and warehouse on a 190 square metre block and 7 Redfern Road, Hawthorn East, a single-storey former house on a 192 square metre block, which were bought together as a development site for $2.05 million through Knight Frank - Glen Waverley; 

• 742 Burke Road, Camberwell, a two-storey 48 square metre brick shop building with first floor dwelling with a brick outbuilding at the rear and parking for four or five cars in a paved rear yard and carport, which was bought for $1.65 million through Prowse Burns Commercial; and 
• Unit 1 at 321-323 Camberwell Road, Camberwell, a ground floor space on the north-west side of approximately 173 square metre and three car spaces, which was bought for $1.135 million through DBRE Pty Ltd - Moorabbin. 

Properties for sale in the August 2018 update of Burke Road Cityscope include:

• 267 Camberwell Road, Camberwell (pictured above), a single-storey brick retail building with brick one-car garage at rear, constructed in 1940 on a 257 square metre block, which is for sale by auction on 31 August, 2018 through Teska Carson Pty Ltd – Richmond; and

• Unit 1, a ground level retail space and unit 2, consisting of office space on level one and residential on level two at 694 Burke Road, Camberwell (pictured above), a brick building with three-storeys to the front and two and three-storeys to the rear, constructed 1890 and refurbished in 1997 and 2005 with a four-car garage at rear on a 184 square metre block; which is for sale together by auction on 31 August, 2018 through RT Edgar – Hawthorn.

Leasing opportunities listed in the August 2018 update of Burke Road Cityscope include:

• 693 Burke Road, Hawthorn East (pictured above), a four-storey commercial building with a ground floor car parking area and 24 basement car spaces, which has an office space of 336 sqm available through Gorman Commercial; 

• Chiquita House at 691 Burke Road, Hawthorn East, a five-storey concrete building with parking for 17 cars on part of the ground floor and to the rear, built 1971  and building was renovated in 1990 and again in 1999, which has office space ranging from 214 to 329 square metre available through Gorman Commercial; and

• 697 Burke Road, Camberwell, a seven-level concrete office building built in the 1970s and refurbished in 1999 which comprises office floors, an upper ground floor showroom/office and parking for 38 vehicles on the lower ground floor and an additional car space stacker for 16 vehicles, has an office space of 253 square metres for lease through JLL Glen Waverley and Colliers International Melbourne East.