SOLD
Sold on 26 Feb 2024 for $6,435,000

128 Commercial Road
Prahran VIC 3181

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 1408m2
Land area: 594m2
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Property Details for 128 Commercial Rd, Prahran

Building Type
Commercial
Floor Size
1408m2
Land Size
594m2
Local Government
Stonnington
Lot/Plan
1/TP216572

Last Listing description (October 2023)

Gross Waddell ICR is pleased to offer for sale this flexible opportunity well suited to a number of end uses and / or development outcomes prominently positioned on the corner of Commercial Road and Porter Street, in the sought-after city fringe suburb of Prahran.

Occupy / Invest / Develop (STCA)

2 level office with NLA of 927 sqm* + amenities & basement carpark

Quality refurbishment on ground level with scope to enhance 1st floor
Corner landholding of 594 sqm* with dual street frontage of 56.5m*
Activity Centre Zoning with "Preferred Maximum Building Height" of 8 storeys (STCA)
Situated in one of Melbourne's best lifestyle precincts with nearby amenity
Suit owner occupiers, investors & developers
Offered with Vacant Possession

To arrange an inspection or for more information please contact the exclusive sales agents Andrew Greenway and Michael Gross.

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Property History for 128 Commercial Rd, Prahran, VIC 3181

A timeline of how this property has performed in the market
Last Sold
$6,435,000
26 Feb 2024
Listed for Rent
16 Apr 2010
  • 26 Feb 2024
    Sold for $6,435,000
  • 01 Feb 2023
    Listed for Sale Contact Agent
  • 18 Oct 2019
    Transferred
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About Prahran 3181

The size of Prahran is approximately 1.9 square kilometres. It has 8 parks covering nearly 6.3% of total area. The population of Prahran in 2011 was 11,191 people. By 2016 the population was 12,985 showing a population growth of 16.0% in the area during that time. The predominant age group in Prahran is 20-29 years. Households in Prahran are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Prahran work in a professional occupation. In 2011, 42.7% of the homes in Prahran were owner-occupied compared with 39.3% in 2016.

Prahran has 10,643 properties. Over the last 5 years, Houses in Prahran have seen a 12.42% increase in median value, while Units have seen a 7.00% increase. As at 31 August 2024:

  • The median value for Houses in Prahran is $1,637,271 while the median value for Units is $555,116.
  • Houses have a median rent of $750 while Units have a median rent of $530.
There are currently 31 properties listed for sale, and 13 properties listed for rent in Prahran on OnTheHouse. According to CoreLogic's data, 509 properties were sold in the past 12 months in Prahran.

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