CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Soliana™ buys South Yarra development site for $5.85m

16/12/2024

39 Darling Street South Yarra aerial mark up.jpg

Soliana™ has purchased a premium South Yarra site with approved plans for a luxury apartment development, paying $5.85 million following a competitive Expressions of Interest process.

The property, located at 39 Darling Street, is permitted for six oversized apartments spread across five levels. Its elevated position offers sweeping views over South Yarra, with proximity to some of Melbourne’s most iconic destinations, including the Royal Botanic Gardens, Fawkner Park, the Yarra River, and Chapel Street.

The site, which currently houses a three-level apartment complex with 10 studio apartments, was sold by a local syndicate through an Expressions of Interest campaign. The deal reflects a land rate of $8,705 per square metre and a unit rate of $975,000, underscoring the strength of Melbourne’s premium residential market.

Hamish Burgess, Joe Kairouz, and Jeffery Ha of Cushman & Wakefield handled the transaction, with Mr Burgess saying the sale highlighted the fierce competition among developers to secure opportunities in South Yarra and surrounding Stonnington suburbs.
“The Stonnington development site market has been hotly sought after throughout 2024. Developers are competing to enter a precinct that continues to re-rate the market in terms of achievable residential revenues, and 39 Darling Street was no exception.”
Mr Ha noted strong interest from a diverse pool of buyers, including those considering alternative uses for the site. “While a developer was the successful purchaser, we also experienced significant enquiry from our Asia Markets client base looking to reposition the existing block of units” he said.

The sale adds to Soliana™’s growing portfolio of high-end residential and commercial projects. Known for its focus on design and quality, the developer plans to bring a new level of luxury to the prestigious South Yarra address.

South Yarra continues to attract significant interest from developers and investors, with its reputation as one of Melbourne’s most sought-after suburbs for premium living firmly intact.


About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

Recent Media Releases

EMEA_OFFICE SPACES_AdobeStock_728158735.jpeg
PCA Office Market Commentary

Alongside the release of the latest Property Council of Australia Office Market Report, our Office Leasing specialists provide their perspectives on the emerging trends shaping Australia's major office markets.

Jess Freeman • 06/02/2025

Building 5 & 6 190 Bourke Road, Alexandria-card.jpg
Cushman & Wakefield secures new tenants for Goodman in Alexandria, highlighting strong demand for industrial space

Cushman & Wakefield has successfully secured new tenants for Goodman in two premier industrial assets located in Alexandria, just 4 kilometres south of Sydney's CBD. 

Jess Freeman • 30/01/2025

146 Maddington Road WA.jpg
Westgold Resources secures long-term lease for premium Maddington facility in WA

Leading Australian gold miner Westgold Resources Limited has committed to a long-term lease for an 8,755 sqm premium-grade warehouse and distribution facility at 146 Maddington Road, Maddington, WA. Cushman & Wakefield facilitated the transaction.

Jess Freeman • 19/12/2024

WANT TO KNOW MORE ABOUT INVESTMENT SALES IN AUSTRALIA?

Get in touch with one of our professionals.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS