The latest research from Chapel Street Cityscope shows that commercial property has increased both in total sales and value for the past three months.

Sales recorded in the quarter to February 2021 totalled $32.5 million from 11 sales, compared to the $2.3 million from 2 sales in the three months to November 2020 and the $5 million from 4 sales in the three months to August 2020.

This data brings the 12 month total to $42.2 million from 20 sales, an increase from the previous twelve month total of $34.3 million from 12 sales.

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

Chapel Street Sales Grid

Notable sales recorded in the February 2021 update of Chapel Street Cityscope include:

  • 299 Chapel Street, Prahran, a two-storey retail building of 685 sqm on a site of 619 sqm, which was bought for $12.5 million through Emmetts Real Estate;
  • 291 Chapel Street, Prahran, a two-storey retail building of 260 sqm with three car spaces to the rear on a site of 394 sqm, internally refurbished in 2015, which was bought for $7.5 million through Emmetts Real Estate and
  • 31 Ralston Street, South Yarra, a car yard used for parking on a site of 386 sqm, which was bought for $2.75 million.
Chapel Street Sales Chart

Properties listed as for sale in the February 2021 update of Chapel Street Cityscope include:

  • 258 Toorak Road, South Yarra, a single-storey brick retail building with a mezzanine level to the rear, with access to the rear and building area of 100 sqm; which is for sale at an asking price of $2,300,000 through Listed & Sold Real Estate - Malvern East;
  • 302 Chapel Street, Prahran, a two-storey building of 250 sqm, with retail shop on ground and office space on the first floor, for sale at an asking price of $3.17 million through Ray White Commercial Oakleigh.

Leasing opportunities listed in the February 2021 update of Chapel Street Cityscope include:

  • 364 Chapel Street, Prahran, a two-storey retail building with one car space and a building area of 217 sqm, for lease through Ashton Commercial Melbourne;
  • 204 Commercial Road, Prahran, a two-storey brick building with a single-storey extension to the rear, which has retail space of 126 sqm on ground level and office space of 47 sqm on level 1 for lease through Gross Waddell Melbourne and
  • 283 Chapel Street, Prahran, a two-storey retail building with a single-storey building to the rear of 178 sqm, for lease through Emmetts Real Estate.