St Germain Toorak Hits the Market with $200M Price Tag

A high-profile mixed-use building in Melbourne’s prestigious suburb of Toorak has officially hit the market, with expectations it could fetch as much as $200 million.

Designed by Hassell and completed in 2023, the nine-storey St Germain at 505 Toorak Road is a flagship asset for Vicland Property Group, offering more than 13,000 square metres of premium net lettable area just 5km from the CBD.

GALLERY

Anchored by tenants including Coles, Kennedy, Deague Group, Kay & Burton, Scoop Wholesale, Cecconi’s and Tim Gurner’s wellness club Saint Haven, the property represents one of the city’s most high-profile commercial opportunities in recent memory.

St Germain blends office, retail and lifestyle spaces with a focus on premium amenity. The building features expansive green spaces, terraces, 168 secure carparking bays and end-of-trip facilities. Tenants enjoy sweeping views over Melbourne’s city skyline, Port Phillip Bay and the Dandenong Ranges, reinforcing its appeal as a luxury workspace destination.

Cushman & Wakefield agents Daniel Wolman, Nick Rathgeber, Leigh Melbourne, Oliver Hay, Mark Hansen and Leon Ma have been appointed to manage the sale on behalf of Vicland. The team expects strong interest from domestic and offshore investors drawn to the building’s scale, location and robust tenancy profile.

“Demand for premium mixed-use spaces in affluent suburbs like Toorak continues to grow as high-net-worth individuals and businesses seek to balance lifestyle and productivity closer to home,” said Wolman.

Rathgeber added: “With a diversified cash flow and an eight-year WALE, St Germain is poised to deliver significant long-term value.”

Vicland originally acquired the 505 Toorak Road site in 2019 for $80 million before undertaking the $300 million development. The listing marks one of the largest suburban commercial property offerings in recent years, underscoring the continued investor confidence in Melbourne’s blue-chip inner-city fringe markets.

Images via The Urban Developer