The latest research from Chapel Street Cityscope shows commercial property sales for the most recent quarter have increased in total sales value but fallen in number. For the three months to August 2016, there were 8 sales at a total value of $224.1 million, compared to 13 sales at a total value of $131.2 million for the previous quarter. The yearly figures are markedly up, with 44 sales at a total value of $648.2 million for the twelve months to August 2016, compared to 34 sales at a total value of $165.4 million for the previous year.

The table below shows sales recorded for the past eight updates of Chapel Street Cityscope.

Chapel Street Cityscope Quarterly Sales

Notable sales in the August 2016 update of Chapel Street Cityscope include:

  • The Como Centre, a retail centre with 33 shops, an office component in four buildings, a 107-room hotel, and a 629-space car park, at 259-303 Toorak Road, South Yarra, which sold for $215 million;
  • A two-storey retail building with a showroom on the ground floor and a studio on the first floor, at 647 Chapel Street, South Yarra, which sold for $3.2 million; and
  • A two-storey retail building with a single-storey addition and a single-space garage to the rear, at 192-194 Commercial Road, Prahran, which sold for $3.105 million.

Chapel Street Cityscope Quarterly Sales

Properties listed as for sale in the August 2016 update of Chapel Street Cityscope include:

  • A two-storey brick building with retail on the ground floor and a garage to the rear, at 69 Toorak Road, South Yarra, to be auctioned 18th August 2016 by Hocking Stuart Commercial;
  • A 102-sqm commercial unit with three car spaces, at 209 Toorak Road, South Yarra, at an asking price of $800,000 through Christopher Russell and Associates; and
  • A 66-sqm commercial unit at 450 Chapel Street, South Yarra, at an asking price of $500,000 through Axis Property Elsternwick.

Leasing opportunities listed in the August 2016 update of Chapel Street Cityscope include:

  • A 10-storey office building at 650 Chapel Street, South Yarra, which has office space of 729 to 4,000 sqm for lease through JLL and Thorburn Commercial Property;
  • Two two-storey retail buildings at 521-525 Chapel Street, South Yarra, which has two retail areas, of 200 and 430 sqm, for lease through TeskaCarson; and
  • A two-storey brick building with four car spaces, at 276 Chapel Street, Prahran, which has retail space of 462 sqm for lease through Fitzroys.

Commercial Research