Another Major South Yarra Development Site Hits the Market

The 2,597 square metre site is spread over two adjoining blocks – the largest at 199 Toorak Road measuring 1689 square metres and including a 1980s low-rise glass office with ground floor retail. A second site at 2 – 4 Claremont Street measures 908 square metres, and including an art deco double-storey office building.

Sources speculate the property could make way for two apartment complexes, each rising higher than 20 levels.

CB Richard Ellis South Yarra’s Andrew Dawkins and Scott Orchard, and GormanKelly’s Robert Kelly and Sandro Peluso are marketing the adjoining South Yarra sites.

Elsewhere in the immediate area, Little Project Developments is building a luxury 24-level apartment complex to replace a former ANZ data centre at 227 Toorak Road, while a 38-level building is planned for the Capitol Bakeries building site, at the corner of Chapel Street.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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