600 Chapel StreetSouth Yarra VIC 3141
Property Details for 600 Chapel St, South Yarra
Last Listing description (January 2024)
ONE OF AUSTRALIA'S MOST PRIME RETAIL CORNERS
** Expressions Of Interest Now Closed- Offers Under Review**
Emmetts and Cushman & Wakefield Melbco are privileged to offer 600 Chapel Street (Cnr Toorak Road), South Yarra for sale by International Expression of Interest.
The property is one of Australia's most prime retail corners, situated at the epicentre of Melbourne's most affluent and high-density mixed-use catchments.
THE OPPORTUNTIY:
+ One of Australia's most prime retail corner real estate holdings.
+ Future opportunity to owner-occupy, reposition, re-lease and value-add.
+ 38 metres* of premium frontage to Chapel Street and Toorak Road.
+ Character building with features attractive to future high-value retailers.
+ Existing lease to National Australia Bank Limited providing undoubted rental income with highly favourable CPI+1.5% annual rental increases.
+ Enormous future retail income reversion potential via asset-repositioning and re-leasing to single-tenant flagship occupier.
+ Plans for illuminated commercial signage (STCA) providing potential to significantly increase income (STCA).
THE LOCATION:
+ South Yarra is situated between Melbourne's most affluent suburbs and the CBD.
+ Accommodating a premium mixed-use medium to high density catchment comprised of residential, offices, hotels and retail.
+ Expected population growth of 28% to 2036, following 31% population growth last 5 years.
+ Local catchment providing a mix of office workers, residents and tourists, generally with high disposable incomes.
+ Both Chapel Street and Toorak Road are regarded as two of Melbourne's most prime retail streets.
+ Significant surrounding premium development pipeline facilitating strong population growth.
+ Local retail market at close to 100% occupancy with depth of unsatisfied retailer occupational requirements.
+ Limited new retail supply, with strong local population growth anticipated to drive enormous growth in retail rents.
Secure one of Australia's best retail corners with enormous future opportunity for significant income reversion or for owner-occupation.
For sale by International Expression of Interest closing Thursday 16th November at 3pm.
For further information, contact Emmetts and Cushman & Wakefield Melbco as the exclusive selling agents.
Emmetts
Charles Emmett | +61 402 358 069
Xander Yeo | +61 487 656 141
Cushman & Wakefield Melbco
Daniel Wolman | +61 412 957 839
Oliver Hay | +61 419 528 540
Leon Ma | +61 417 070 725
Property History for 600 Chapel St, South Yarra, VIC 3141
- 12 Oct 2023Listed for Sale Contact Agent
- 08 Apr 2022Listed for Sale Contact Agent
- 04 Nov 2015Listed for Rent - Price not available
Recent sales nearby
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0About South Yarra 3141
The size of South Yarra is approximately 3.6 square kilometres. It has 19 parks covering nearly 19.1% of total area. The population of South Yarra in 2016 was 25147 people. By 2021 the population was 25028 showing a population decline of 0.5% in the area during that time. The predominant age group in South Yarra is 20-29 years. Households in South Yarra are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in South Yarra work in a professional occupation.In 2021, 35.50% of the homes in South Yarra were owner-occupied compared with 32.60% in 2016.
South Yarra has 26,168 properties. Over the last 5 years, Houses in South Yarra have seen a -8.74% decrease in median value, while Units have seen a -6.08% decrease. As at 31 March 2026:
- The median value for Houses in South Yarra is $2,016,352 while the median value for Units is $602,299.
- Houses have a median rent of $928 while Units have a median rent of $620.
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