The latest research from Chapel Street Cityscope shows that commercial property sales have significantly decreased in the past three months. Sales recorded in the quarter ending November 2016 totalled $3 million from three sales, compared with $211.8 million from 8 sales in the three months to August 2016 and the recorded $131.2 million from 13 sales in the three months to May 2016.

The November 2016 sales totals represent a return to normalcy after The Como Centre and 650 Chapel Street were each bought together for approximately $203 million, boosting the total in the August quarter. This data brings the 12 month total to $451.8 million from 34 sales, an increase compared with the previous twelve month total of $331.9 million from 38 sales.

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

Chapel Street Cityscope Quarterly Sales

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

  • 69 Toorak Road, South Yarra, a two-storey retail building on a site area of 151 sqm, sold for $1.535 million;
  • Suite 10 and Suite 11 of 210 Toorak Road, South Yarra, two strata offices on level one of a two-storey building including four car spaces on title, sold for a total of $0.75 million;

pulse-cssaleschart

 

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

  • 29 Toorak Road, South Yarra, a two-storey brick building with a shop at street level and offices above on a 187 sqm site, for sale by auction in December 2016 through Fitzroys;
  • 49 Toorak Road, South Yarra, a two-storey retail building on a 56 sqm site, for sale through LINQ Property;
  • 403 Chapel Street, South Yarra, a two-storey retail building with a later brick addition to the rear on a 185 sqm site, for sale by auction in December 2016 through CBRE – Melbourne.

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

  • The Colonnade at 524 Chapel Street, South Yarra, a three-level retail and office complex with 198 car spaces over two levels , has retail space of 99 sqm and 165 sqm for lease through Fitzroys;
  • 352-354 Chapel Street, South Yarra, a single-storey retail building, providing 321 sqm building area, for lease through Fitzroys;
  • 2 Darling Street, South Yarra, a four-level office building with a ground floor cafe, has office space of approximately 250 sqm for lease through Healthcare Real Estate and CBRE – Melbourne.

Commercial Research