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 2020 totalled $5 million from 4 sales, an increase from the $2.4 million from 3 sales in the three months to May 2020 but a slight decrease from the $5.5 million from 2 sales in the three months to February 2020.
This data brings the 12 month total to $14.9 million from 11 sales, a significant decrease from the previous twelve month total of $61.6 million from 18 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the August 2020 update of Chapel Street Cityscope include:
- 66 Toorak Road, South Yarra, a two-storey brick building with a shop at street level with a building area of 400 sqm on a 227 sqm block, which was bought for $3.5 million and
- Suite 39 at South Yarra Corporate Centre at 209 Toorak Road, South Yarra, an 85 sqm office suite on the first floor, which was bought for $0.8 million.
Properties listed as for sale in the August 2020 update of Chapel Street Cityscope include:
- Lot 3 at 512 Chapel Street, South Yarra, a 234 sqm single-level retail unit to Chapel Street within a 1 and 2-storey retail complex, which is for sale with an asking price of $6 million through Axis Property;
- 302 Chapel Street, Prahran, a two-storey building with retail shop on ground and office space on the first floor with a building area 250 of sqm, which is for sale through Ray White Commercial Oakleigh.
Leasing opportunities listed in the August 2020 update of Chapel Street Cityscope include:
- 576 Chapel Street, South Yarra, a two-level retail building with three identical shops at street level, built 1995. There is parking for nine cars on paved land to the rear, which has retail/showroom space of 223 sqm for lease through Teska Carson;
- 650 Chapel Street, South Yarra, a 10-storey office building with retail space on the ground level, completed in 1988, which has office space of 306 sqm for lease through Colliers International and
- 52 Toorak Road, South Yarra, a two-storey brick building with a shop at street level, which has retail space ranging from 50 to 180 sqm for lease through Fitzroys.