4/100 Station Street, Nunawading
The 3,674sqm strata-titled office and warehouse sold for $10.7 million, on a building rate of $2,912/sqm. It has a 4+3-year lease to international company Pearson returning $700,000pa. Australian Securities Property Fund was the vendor.

160 Ferrars Street, South Melbourne
A value-add investor bought the 289sqm office and warehouse for $2.015 million. The dual-fronted landholding covers 310sqm has 4 on-site car parks.

31 Dexter Drive, Epping
The 386sqm office and warehouse unit sold for $1.525 million.

18/7 Dalton Road, Thomastown
An owner-occupier bought the vacant 257sqm office and warehouse unit for $1.115 million, on a building rate of $4,339/sqm. The property has a 9m clearance and 3 car spaces.

5/1 Culverlands Street, Heidelberg West
The refurbished tilt slab factory sold with vacant possession for $1.66 million. It has a building area of 550sqm and is on 754sqm of Industrial 1-zoned land.

The Home of Arguably Melbourne’s Best Fish & Chips Is On The Market.
Fitzroys’ Chris Kombi and Tom Fisher are marketing 105 Beach Street, the home of the famous D’Lish Fish overlooking Station Pier in Port Melbourne, on behalf of a private owner.

Adjacent to Port Melbourne Beach, Beach Cove Light Rail Station and Waterfront Place, and moments away from Bay Street, the 270sqm property boasts an extensive corner frontage of 43 metres and is offered with a secure 10+6+6+6-year lease to the longstanding business.

D’Lish Fish was established by renowned fisherman and VFL/AFL footballer, commentator and media personality Rex Hunt in 1998, and quickly became a Melbourne institution, offering the quintessential experience of fish and chips on the beach. In recent years it has been voted as Melbourne’s best fish and chip shop by Urban List (twice), TimeOut, and Dish Cult, and has received an award from RestaurantGuru.

“This is one of Melbourne’s most iconic hospitality real estate investments - the home of what is arguably the city’s best fish and chips,” Kombi said.

“It’s an incredibly rare opportunity to acquire a high-yielding investment in an inner-Melbourne bayside location that’s home to a true local institution.

“The property presents the perfect set-and-forget investment. Melbourne retail properties with secure leases to successful tenants provide excellent investment prospects at a time of residential and share market volatility.

Fisher said the well-supported beachfront location is set amongst an abundance of high rise apartment complexes and proposed future development activity.

“Port Melbourne has been one of the best examples of urban renewal in Melbourne this century, revitalised by new developments which have added significantly to the immediate residential and worker populations, enhancing trade prospects for local businesses and security of rent.

“This location also has a front-row seat to Australia’s largest urban renewal project, Fishermans Bend, which is expected to be home to 80,000 residents and provide employment for up to 80,000 people by 2050.
“This will provide a massive boost to the catchment, and more people in the vicinity will be looking for a quality food experience in the area, with Port Melbourne Beach set to become all the more popular as a destination.”

Expressions of Interest close Wednesday, 26 March at 2pm.

Revitalise This Iconic Port Melbourne Corner Freehold
An iconic piece of Port Melbourne’s history has been put to the market, offering owner-occupiers and value-add buyers the chance to secure an invaluable corner position within the prime of the Bay Street retail and lifestyle strip.

Fitzroys agents David Bourke and Tom Fisher are marketing 226 Bay Street, Port Melbourne via Expressions of Interest closing Wednesday, 19 March at 2pm on behalf of a private group.

Constructed in 1887, the two-level, 450sqm building is on a rare triple-fronted, Commercial 1-zoned site of 254sqm, with over 45 metres of frontage, including of 10 metres to bustling Bay Street.

The property is offered with vacant possession and an existing planning permit for a four-level mixed-use development.

Interest is expected from $3.3 million.

“This is a fantastic opportunity for an owner-occupier, investor or value-add player to acquire one of Port Melbourne’s landmark freeholds,” Bourke said.

“Owner-occupiers will recognise that the property suits a range of end uses, including hospitality, retail, office and more, and presents a remarkable chance to get into the prime of Bay Street, which is a consistently high-performer among Melbourne’s famous shopping strips.”

Located on the corner of Liardet Street, the property has exposure to high volumes of foot traffic, and is adjacent to the busy Coles Supermarket and car park.

“Value-add buyers and investors will note the existing planning permit and the heightened demand for well-located properties across Melbourne’s city fringe from retail tenants, office tenants and residents alike,” Bourke said.

“The property’s prime position within Bay Street, and close proximity to the Melbourne CBD and Port Melbourne Beach, as well as multiple public transport routes - including light rail just 400 metres away - and major arterials offers attractive hospitality, lifestyle and accessibility attributes.”

Fisher said Port Melbourne’s development boom of recent years has brought crowds throughout all hours to the popular cafés, eateries and historic pubs of Bay Street. According to Fitzroys’ Walk the Strip report, Bay Street, Port Melbourne retail vacancies over the past year to a tight 5.3%, comfortably below the Melbourne average.

“This property will also benefit from its prime position next the Fishermans Bend urban renewal precinct.”