An exceptional freestanding retail investment opportunity in South Yarra’s bustling retail and hospitality hub, boasting a vast catchment area teeming with daily office workers, residents, and tourists is set to hit the market this month.
With an anticipated growth rate of 19.9%* by 2036, South Yarra benefits from excellent public transport connectivity, serving Melbourne’s elite suburbs including South Yarra, Armadale, Toorak, and Malvern.
With availability slated for owner occupation in February 2025, this high-profile freestanding retail investment at 137 Toorak Road, South Yarra sits on 150sqm* of prime land, with a generous 122sqm* gross building area.
Currently leased to ‘OPSM’, a prominent Australasian retailer with over four hundred stores across Australia and New Zealand, the property promises stable returns while offering potential for value-add opportunities and is for sale through Karim Ford, George Davies and Eva Ni of Cushman & Wakefield.
Strategically positioned along Toorak Road’s bustling retail and hospitality strip, the property enjoys a commanding presence with 6m* of premium street frontage, ensuring exposure to thousands of passing vehicles and pedestrians daily.
The property is surrounded by national retailers such as Mecca, Gum Tree, IGA, BOQ, BWS, Vintage Cellars and some of Melbourne’s most reputable hospitality operators including France-Soir, Bistro Gitan, Cosi, Yan, Bar Carolina, Caffe e Cucina, Matilda and many more within moments of the property.
Mr Ford said: "We've observed sustained engagement following six recent transactions in South Yarra within a span of four months. Despite prevailing market conditions, it is evident that there's substantial demand for defensive strip retail assets strategically located in premium suburbs with strong and stable demographics."
“This demand extends across various purposes such as value enhancement, unlocking rental potential, flagship retail, hospitality, land banking, development, or redevelopment subject to council approval (STCA). Our interactions involve diverse buyer profiles fitting into each category and intended use which is giving us confidence in 2024 and beyond that there’s patient capital to be deployed."
Zoned as an Activity Centre Zone – Schedule 1 (ACZ1), the property offers flexibility for redevelopment (STPA), value-add initiatives (STCA), and the potential to realise substantial rental returns in Melbourne’s most prestigious suburb.
South Yarra is poised to benefit from a $5 billion* mixed-use development pipeline, including high-quality office, hotel, residential, and build-to-rent (BTR) towers, further enhancing its desirability.
George Davies said: “Coupled with world-class amenity and a burgeoning development pipeline, investors are presented with a rare opportunity to capitalise on an enduring blue-chip asset set to deliver substantial rewards for decades to come."
The property will be available for sale by on-site public auction on Friday, May 9, at 12:00 PM, offering investors the chance to secure their stake in this unparalleled South Yarra treasure.
