The latest research from Chapel Street Cityscope shows that commercial property sales value have decreased in the past three months.
Sales recorded in the quarter to November 2019 totalled $2.1 million from 2 sales, a decrease from the $20.7 million from 5 sales in the three months to August 2019 and a decrease compared with the $4.1 million from 2 sales in the three months to May 2019.
This data brings the 12 month total to $29.9 million from 11 sales, a large decrease from the previous twelve month total of $134.7 million from 42 sales.
The table below shows sales recorded for the past eight updates of Chapel Street Cityscope:
Notable sales recorded in the November 2019 update of Chapel Street Cityscope include:
- Lot 1b in South Yarra Arcade at 101-105 Toorak Road South Yarra, an office on level one, the unit also includes five metres of airspace above its roof, which was bought together with a car space for $1.68 million and
- Suite D in Bamburgh House at 450 Chapel Street, South Yarra, a 64 sqm office on level one, which was bought for $0.385 million.
Properties listed as for sale in the November 2019 update of Chapel Street Cityscope include:
- 409A Chapel Street, South Yarra, a two-storey retail building of 196 sqm with a yard to the rear on a 155 sqm block, which is for sale through Emmetts Real Estate – Melbourne and
- Shop 2 in Twofourtwo at 242 Toorak Road, South Yarra, a ground floor retail shop of approximately 50 sqm plus one car space, which is for sale through Gorman Commercial.
Leasing opportunities listed in the November 2019 update of Chapel Street Cityscope include:
- 533 Chapel Street, South Yarra, a two-storey retail building and single-storey annexe, refurbished in 200, which has retail space of 218 sqm available through Emmetts Real Estate – Melbourne;
- 245-253 Chapel Street, Prahran a three-storey building with four shops at street level and offices above, which has retail space ranging from 100 to 183 sqm available through TeskaCarson; and
- 280 Chapel Street, Prahran, an older style three-storey brick retail building with an ornate facade, which has retail space of 334 sqm available through Allard Shelton.