The value of commercial property sales along Melbourne's Chapel Street has decreased in three months to November, new data has revealed.

According to Chapel Street Cityscope, 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. 

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
• 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.
• 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.

Click here for more information on Chapel Street Cityscope.

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