Prahran corner building trades for over $6m

The property is about seven kilometres south east of Melbourne.

A double-storey office/warehouse in a relatively less gentrified part of Prahran has sold for a speculated price of more than $6 million to an occupier.

At 48-52 Clifton Street, at the south east corner of King, the property had a guide of $5-$5.5m when it was listed for auction last month.

Gross Waddell’s Alex Ham and Michael Gross confirmed it found a buyer within a fortnight but offered no more detail.

The improvement contains 1392 sqm of area and is accessible also via crossovers (story continues below).

However being on a 700 square metre block zoned Chapel Street Activity Centre – about 150 metres east of that retail strip and twice that distance to High St – it was expected to have been contested by several high-profile residential developers.

At the opposite end of Clifton St, a former Vision Australia office was about seven years replaced with Trilogi containing three major apartment buildings, the tallest 12 floors.

Across King St are two public housing blocks also of this height on land it has been speculated could longer term be rebuilt as a public/private housing project.

Part of the building set up as a studio.
The property has four crossovers accessing an undercover car park (above) and warehouse (bottom).

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of