Prahran Market block fetches $11.4m from Beulah
Beulah has swooped on a prominent corner site opposite Prahran Market.
The 1132 square metre Activity Centre 1 zoned parcel – six shops, between 182-194 Commercial Road – has set it back $11.4 million.
A mixed-use project with high end apartments is planned.
The property is near a new public space, Prahran Square, and the Woolworths supermarket, the rooftop of which in 2018 hundreds of Melburnians posed nude for a shoot by international photographer Spencer Tunick (that venue was chosen because of its spectacular city skyline view – something occupants within Beulah’s proposed building would enjoy).
Last month we reported Gurner applied to build an eight-storey hotel-based mixed-use project at 141-151 High St – not far from the Beulah block.
In 2019, Paul Little announced plans to team with the owner of nearby warehouses – for an apartment complex.
Stonebridge’s Rorey James, Julian White, Nic Hage and Chao Zhang marketed 182-194 Commercial Rd, at the south east corner of Izett St.
Prahran Market is actually in South Yarra (story continues below).
An offering never seen in the area: Beulah
Beulah’s new site contains 1087 sqm of internal area – ground floor retail and upstairs offices.
“We’re looking forward to offering a product that will add immense value to this inner-city pocket and will complement the renowned Prahran Market via retail, dining and public amenity, coupled with a residential offering not yet explored in this year,” the developer’s managing director Jiaheng Chan said.
“Prahran is currently going through an exciting evolution that is seeing a new generation of businesses set up shop, from forward-thinking restaurants and lifestyle-focused hotel chains,” he added.
Across town, in June, Beulah unveiled plans to replace a Northcote site, abutting Merri Creek, with 15 carbon-neutral homes – a project called The Wilds.
The group is also behind a proposed 100-storey mixed-use complex at Southbank.
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