South Yarra corner trades for c$5.4m
An owner-occupier is speculated to be paying $5.4 million for a South Yarra corner site.
At 329-333 Toorak Road and 2 Tivoli Rd, the 413 square metre parcel contains three shops and a warehouse.
Zoned Activity Centre, it is surrounded by taller towers including one next store, of seven storeys.
It is understood the incoming owner intends to build an office.
The deal comes four weeks since Oreana spent $13.15m for a row of four shops at 169-175 Toorak Rd – adjacent to South Yarra Square, an arcade it acquired a month earlier for $35m (story continues below).
Elsewhere in the suburb, Trenerry Group and the Kanat and Smorgon families recently outlaid less than $20m for Poolman House, on the south west corner of Domain and Punt roads, with plans to repurpose it as a resort.
More to come.
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