Colliers Facilitates Key Retail Transaction on One of Melbourne’s Premier Strips

Toorak Road retail asset attracts strong investor demand with prime location and secure lease.

Colliers is pleased to announce the successful sale of a premier retail property at 63 Toorak Road, South Yarra. The transaction, managed by Colliers agents Lucas Soccio, Ben Baines, and James Zhuang, highlights the continued strength and appeal of Melbourne’s most coveted retail strips.

Strategically positioned amidst a vibrant mix of high-end hospitality and fashion operators, the property at 63 Toorak Road benefits from significant foot traffic and visibility. The investment is anchored by a secure, long-term lease to Antaeus Flowers with options until 2033, providing a reliable, long-term revenue stream for the private investor who secured the property for $900,000.

Colliers Executive Lucas Soccio said, “The strip retail market is continuing to buck the trend of softening yields with another strong result of 4.09%. Key fundamentals, including location, tenant profile, and lease tenure, profoundly impact values across various retail strips in Melbourne. This year, retail assets between $500,000 and $2,000,000 have received an increasing number of enquiries.”

The property’s prominent exposure onto Toorak Road and immediate access to South Yarra Station further enhance its investment attractiveness. The surrounding area is well-equipped with quality amenities, adding to the property’s appeal.

Colliers Director Ben Baines added, “The retail market has seen confidence levels return, with investment assets situated in A-grade locations, encompassing strong tenants and long-term leases, seeing the majority of the demand.”

This sale underscores the resilience and desirability of prime retail locations in Melbourne, particularly in sought-after areas like Toorak Road.