The latest research from Chapel Street Cityscope shows that commercial property sales value have increased in the past three months.
Sales recorded in the quarter to August 2019 totalled $20.7 million from 5 sales, an increase from both the $4.1 million from 2 sales in the three months to May 2019 and $3.1 million from 2 sales in the three months to February 2019.
This data brings the 12 month total to $62 million from 18 sales, a significant decrease from the previous twelve month total of $111.4 million from 40 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the August 2019 update of Chapel Street Cityscope include:
- 230-234 Toorak Road, South Yarra
A vacant land of 773 sqm with rear lane access via Penny Lane, which sold for $11 million and
- 521-525 Chapel Street, South Yarra
Comprising of two 2-storey terrace buildings on a 492 sqm block, which sold for $7.1 million.
Properties listed as for sale in the August 2019 update of Chapel Street Cityscope include:
- 461-463 Chapel Street, South Yarra
A high-fronted single-storey retail building with a yard with roller door access to the rear, has a gross building area of 236 sqm, for sale by expressions of interest through Colliers International – Melbourne East and
- 328 Toorak Road, South Yarra
A two-storey brick retail building with a building area of 105 sqm on a 138 sqm block, for sale through Gross Waddell.
Leasing opportunities listed in the August 2019 update of Chapel Street Cityscope include:
- The Como Centre at 259-303 Toorak Road, South Yarra
A retail, office, hotel and car park centre with 33 specialty shops and offices above on a site area of 10,400 sqm, has office space ranging from 24 to 1,500 sqm for lease through Colliers International – Melbourne East and Office Hub - Sydney;
- 367-369 Chapel Street, South Yarra
A 2-storey brick retail building with two shops at street level, has retail space of 87 to 174 sqm for lease through Hocking Stuart Commercial and
- Osborne Business Centre at 141 Osborne Street, South Yarra
A 5-level office building with retail space on ground floor and parking for 21 cars to the rear with a building area of 1,300 sqm, has office space ranging from 300 to 1,300 sqm for lease through JLL – Glen Waverley and Colliers International – Melbourne East.