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 February 2020 totalled $5.5 million from 2 sales, an increase from the $2.1 million from 2 sales in the three months to November 2019 but a decrease from the $20.7 million from 5 sales in the three months to August 2019.
This data brings the 12 month total to $32.3 million from 11 sales, a significant decrease from the previous twelve month total of $127 million from 32 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the February 2020 update of Chapel Street Cityscope include:
- 669 Chapel Street, South Yarra, a vacant land of 932 sqm, which sold for $3.8 million and
- Lot 1A at South Yarra Arcade, 101-105 Toorak Road, South Yarra, an office suite on the first floor including five metres of airspace above its roof plus a car space on separate title, which sold for $1.68 million.
Properties listed as for sale in the February 2020 update of Chapel Street Cityscope include:
- 512 Chapel Street, South Yarra, a single-level retail unit to Chapel Street with a net lettable area of 234 sqm, for sale by auction through Axis Property;
- 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 through Colliers International – Melbourne East and
- Unit 8 at South Yarra Business Centre, 194 Toorak Road, South Yarra, a ground floor retail unit of 140 sqm including eight car spaces on title, for sale through Morley Commercial.
Leasing opportunities listed in the February 2020 update of Chapel Street Cityscope include:
- 447 Chapel Street, South Yarra, a two-storey brick retail building, with roller door access to the rear, has retail space of 480 sqm for lease through Buxton – Oakleigh;
- 495 Chapel Street, South Yarra, a two-storey brick Victorian retail building, built in 1888. There is a yard to the rear of the property, has retail space ranging from 97 to 153 sqm for lease through Fitzroys – Melbourne and
- 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 5 to 400 sqm for lease through Instant Office Solutions.