Sales of commercial and retail property in Perth's central business district have boomed during 2006, almost doubling by value in the past 12 months according to real estate research group Cityscope.
The figures don't include the recent sales by Ralph Sarich's Cape Bouvard Investments property group which sold two Perth office blocks - Allendale Square and Allendale Square II - this week.
Research for the latest Cityscope survey of Perth, for the quarter ended November 30, noted 39 sales worth a total of $372 million, bringing sales recorded during the 12 months ended November 2006 to 183 properties, totalling $853 million. That is more than 95 per cent up on the previous year.
The previous four years are listed below:
| Year* | 2002 | 2003 | 2004 | 2005 | 2006 |
| Sales (#) | 143 | 128 | 147 | 145 | 183 |
| Value | $595m | $540m | $339m | $436m | $853m |
*12 months ending November 30
The biggest sale in the latest year was of 140 St George's Terrace (formerly the AMP Building) for $153.5 million by AMP Life Statutory Fund No 1 to the AMP-managed Australian Core Property Portfolio.
This is the second largest sale yet recorded in Perth by Cityscope. The largest was of a half share in Central Park for $159 million in mid 2005.
Cityscope's Perth survey covers Perth CBD, West Perth and part of East Perth.
The table below shows sales recorded in Perth Cityscope in the past two years (this includes seven updates because publication frequency changed from three to four times yearly in 2006).
| Three months ended | Mar-05 | Jul-05 | Nov-05 | 12 month | Feb-06 | May-06 | Aug-06 | Nov-06 | 12 month |
| | | | | Total |
| | | | Total |
| Total Sales ($m) | 88 | 240 | 108 | 436 | 107 | 125 | 248 | 372 | 852 |
| No. of Sales | 48 | 44 | 53 | 145 | 37 | 47 | 60 | 39 | 183 |
| Commercial Building Sales ($m) | 26 | 199 | 86 | 312 | 77 | 83 | 172 | 277 | 610 |
| Commercial Strata Unit Sales ($m) | 10 | 9 | 8 | 27 | 7 | 8 | 21 | 14 | 51 |
| Retail Building Sales ($m) | 8 | - | 4 | 12 | 2 | 8 | 41 | 7 | 59 |
| Retail Strata Unit Sales ($m) | - | 1 | 1 | 2 | - | 1 | 22 | | 6 |
| Other Building Sales ($m) | 43 | 30 | 9 | 83 | 20 | 23 | 11 | 72 | 127 |
