The latest research from Chapel Street Cityscope shows that commercial property sales value have decreased in the past three months.
Sales recorded in the quarter to February 2019 totalled $3.1 million from 2 sales, a decrease from the $34.9 million from 9 sales in the three months to November 2018 and a large decrease compared with the $71.8 million from 16 sales in the three months to August 2018.
This data brings the 12 month total to $127.4 million from 32 sales, an increase from the previous twelve month total of $75.9 million from 35 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the February 2019 update of Chapel Street Cityscope include:
- 150 Toorak Road, South Yarra
A two-storey brick building with a shop at street level renovated in 2005, and a more recent two-storey brick extension to the rear containing a dwelling, which was bought at auction for $2.2 million through TeskaCarson. The sale represented an initial yield of 4.25% on passing income of $93,600 (net) and
- Suite 8 at South Yarra Corporate Centre, 209 Toorak Road, South Yarra
A commercial unit of 102 sqm on the first floor plus four car spaces, which sold for $850,000.
Properties listed as for sale in the February 2019 update of Chapel Street Cityscope include:
- 328 Toorak Road, South Yarra
A two-storey brick retail building; originally part of a terrace row and has a building area of 105 sqm, which is for sale through Gross Waddell and
- Unit 1, 459 Chapel Street, South Yarra
A retail unit of 55 sqm on the ground floor with one car space is available with an asking price ranging from $1 to $1.1 million through Chisholm & Gamon Property.
Leasing opportunities listed in the February 2019 update of Chapel Street Cityscope include:
- The Como Centre, 259-303 Toorak Road, South Yarra
Comprising of retail, offices, hotel and car parks for 629 cars has office suites of 43 to 683 sqm available through Colliers International - Melbourne East and Newmark Asset Management;
- 478 Chapel Street, South Yarra
A two-storey building with seven shops at street level and office space in the upper level and parking for 14 cars has retail shops 1, 2, 5 and 6 of 60 to 91 sqm available through TeskaCarson and
- 141 Osborne Street, South Yarra
A 5-level office building with retail space on the ground floor and parking for 21 cars to the rear, which has the whole building up to 1,300 sqm or whole floors of 300 sqm available through JLL - Glen Waverley and Colliers International - Melbourne East.