Two Milton Properties, Among The Most Significant Sales In The Past Three Months

Photo credit: Google Maps

Two properties in Milton are included in the most significant sales in the past three months, the latest Brisbane Fringe Cityscope research said.

The latest Corelogic’s Brisbane Fringe Cityscope report revealed that property sales figures in the last three months to the beginning of February 2020 have increased with recorded sales totalling $216.5 million.

There was a total of over $189 million in significant sales this quarter including a property located at 19 Lang Parade, Milton. The site comprising two office buildings, with 31,567 sqm total gross floor area, was sold off-market for $85.2 million to Nikos Property Group Pty Ltd. 



Included in the site is the Terrace Suites, a two-storey building built prior to 1990 and is situated behind the seven-storey building that was built in 2009, and extended by one floor in 2011. The property is situated in close proximity to transport: 400 metres to Auchenflower Train Station, 125 metres to Coronation Drive bus stop, and 150 metres to Milton Ferry Wharf. 

Photo credit: Elders Commercial / elderscommercialbrisbane.net.auPhoto credit: Elders Commercial / elderscommercialbrisbane.net.au
Photo credit: Elders Commercial / elderscommercialbrisbane.net.auPhoto credit: Elders Commercial / elderscommercialbrisbane.net.au
Photo credit: Google Maps

Meanwhile, three buildings — comprising a 2,514 sqm two-level building, a 565 sqm workshop/warehouse, and 723 sqm workshop/warehouse — with frontages to Crombie Street, Cribb Street, and McDougall Street were sold together for $10.5 million. 

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Of the $216.5 million total sales from 15 properties, $194.7 million were for commercial, $3.8 million for commercial strata, $6.5 million for retail, $100,000 for retail strata, and $10.5 million for other.

Comparing that data to the last three months to the beginning of November 2019, there 17 sales recorded for a total of $55.5 million including 4.3 million for commercial, $3.7 million for commercial strata, $5 million for retail, $200,000 for retail strata and $42.4 million for other.