- Property Type – Offices, Retail, Other
- Est. Income – $4,913,568 p/a
- Wale – 8.25 years
- Land Area – 906 m² (approx) Floor Area – 5565 m² (approx)
- Selling Method – EOI
- Selling Details – Please Contact Agent
Investment Highlights
A LANDMARK ASSET. A LANDMARK LOCATION.
- Brand new building with 5,565sqm* NLA
- Net passing income of $4,913,568 p.a.*
- 8.25-year* WALE
Cushman & Wakefield Middle Markets is proud to present 189 Toorak Road, South Yarra, for Sale by International Expressions of Interest closing Thursday 12 November 2026 at 12pm (AEDT).
Key details are highlighted below
– Completed in 2025, the 11-storey mixed-use building comprises 5,565sqm* of net lettable area, with significant depreciation benefits available.
– Prominent 906sqm* corner landholding with 19.9m* of frontage to Toorak Road and 45.9m* to Claremont Street, within the Activity Centre Zone.
– Fully leased with net passing income of $4,913,568 p.a.*, an 8.25-year* WALE and fixed annual rental increases providing compounding income growth.
– Diversified tenant mix including The Commons premium wellness and co-working clubs, Skidmore, Owings & Merrill, Gilson Restaurant, Fancourt Capital Group and V-Leader Group.
– Designed by Skidmore, Owings & Merrill, the firm behind the Burj Khalifa, and built by Ironside Construction. Features include expansive outdoor terraces, uninterrupted CBD views, floor-to-ceiling glazing and end-of-trip facilities.
– Restoration of the 1887 South Yarra Coffee Palace integrated with a contemporary addition, with a registered 5-Star Green-Star Rating
– Located in the Toorak Road and Chapel Street precinct, with access to retail, dining and wellness amenity. The local catchment recorded $246m* in spending across six months and 12.3%* year-on-year customer growth.
– 110m* from South Yarra Station and 100m* from the nearest tram stop, providing direct public transport connections to the Melbourne CBD and surrounding suburbs.
Cushman & Wakefield Middle Markets presents 189 Toorak Road, South Yarra for Sale by International Expressions of Interest closing Thursday 12 November 2026 at 12pm (AEDT).
For more information, please contact the exclusive agents below.
Cushman & Wakefield
Oliver Hay | +61 419 528 540
Daniel Wolman | +61 412 957 839
Leon Ma 马海翔 | +61 417 070 725
*Approx.
189 Toorak Road, South Yarra is a fully leased, 11-storey mixed-use building completed in 2025. It was designed by Skidmore, Owings & Merrill and incorporates the restored 1887 South Yarra Coffee Palace. It offers approx. 5,565sqm of lettable area on a 906sqm corner site, returns approx. $4.91m net per year with a WALE of about 8.25 years, and is 110m from South Yarra Station. It is offered by International Expressions of Interest, closing Thursday 12 November 2026 at 12pm (AEDT).
Key facts
| Item | Detail |
|---|---|
| Building | 11-storey mixed-use, completed 2025 |
| Lettable area | ~5,565sqm NLA |
| Land | ~906sqm corner site |
| Frontages | ~19.9m Toorak Rd, ~45.9m Claremont St |
| Zoning | Activity Centre Zone |
| Occupancy | 100% leased |
| Net income | ~$4,913,568 p.a. |
| WALE | ~8.25 years, fixed annual increases |
| Sustainability | 5-Star Green Star (registered) |
| Sale method | International EOI |
| EOI closing | 12 November 2026, 12pm AEDT |
| Agents | Cushman & Wakefield: Oliver Hay, Daniel Wolman, Leon Ma |
Tenants
- The Commons (wellness and co-working)
- Skidmore, Owings & Merrill
- Gilson Restaurant
- Fancourt Capital Group
- V-Leader Group
Who it suits
- Passive income investors: secure, indexed income from a new, fully leased building.
- Private wealth and family offices: a trophy asset with heritage and design pedigree.
- Offshore capital: marketed internationally, with Mandarin-speaking agent support.
- Syndicates and funds: long WALE and multiple tenants spread the risk.
- Long-term hold: a scarce corner site in a tightly held strip.
Why South Yarra
- Premium location: at the junction of the Toorak Road and Chapel Street retail, dining and wellness precincts.
- Transport: South Yarra is one of Melbourne’s busiest stations, and the Metro Tunnel adds capacity on the Frankston and Sandringham lines. A tram stop is 100m away.
- Strong local spending: $220m in winter 2025, up 7.7% year on year, with 264,000 customers (City of Stonnington).
- Affluent catchment: young professionals plus established Toorak and South Yarra wealth.
- Limited new supply: new A-grade, Green Star-rated buildings are rare in the precinct.
FAQs
How much income does 189 Toorak Road return? Approx. $4.91m net per year, with fixed annual increases.
Who designed the building? Skidmore, Owings & Merrill. It was built by Ironside Construction.
When do EOIs close? 12 November 2026 at 12pm AEDT.
Before you buy
- Verify the leases, incentives and rent reviews against the rental schedule.
- Confirm outgoings recovery, parking and title details.
- For foreign buyers: check FIRB requirements and Victorian land tax and duty surcharges.