530 Hampton Street, Hampton
An investor paid $1.715 million at a 4.7% yield for the 250sqm 2-level building, which is on a 222sqm corner site. Okami Japanese Restaurant has a 5+5+5-year lease.
505 Chapel Street, South Yarra
Located opposite the Jam Factory development, the 120sqm shop sold with vacant possession for $1.6 million, on a building rate of $13,333/sqm.
272 Smith Street, Collingwood
The 2-level 581sqm building on a 289sqm site with 8 on-title car parks sold for $2.888 million. It is occupied by Newton & Leung Pharmacy and the Smith Street Medical Centre, both with 10-year leases expiring December 2029.
321 Chapel Street, Prahran
JB Hi-Fi leased the 986sqm ground floor space at a rate in the $800-plus/sqm range.
5/303 Maroondah Highway, Ringwood
The 49sqm suite sold for $377,000. Insolvency and restructuring firm Worrells has a 2+2-year lease returning $21,260pa plus outgoings and GST.
1/32 East Derrimut Crescent, Derrimut
The 680sqm office and warehouse facility sold for $1.35 million. Dachser Intelligent Logistics has a 2+2+2-year lease from July 2024 returning $11,196pa plus outgoings and GST.
34 Acheson Place, Coburg North
Offered with vacant possession, the 460sqm office and warehouse on a 590sqm Industrial 3-zoned site sold for $1.22 million.
10 Taylor Street, Yarraville
Offered with vacant possession, the 250sqm office and warehouse sold for $805,000.
3 Norwest Avenue, Laverton North
The 2,200sqm Industrial 2-zoned warehouse with a 10m clearance height on 4,062sqm of land was leased at $286,000pa.
570 Riversdale Road, Camberwell
Local developer Maleela Projects paid $7.3 million for the 2,140sqm landholding, which has approval for a luxury apartment complex. It is currently improved by an apartment block built in 1939 by the father of late entertainer Barry Humphries.
A generational opportunity to acquire a rare Glen Iris warehouse on a major landholding in the sought-after suburb has hit the market.
Fitzroys’ Chris Kombi,Marco Sandrin and Ben Liu are marketing 22-26 Weir Street, Glen Iris on behalf of a private owner. The campaign marks the first time the property has been offered for sale in 70 years.
Expressions of Interest close Wednesday, 26 March at 3pm.
The property comprises a highly versatile open-plan warehouse plus office of 1,100sqm, on a well-proportioned landholding of 1,510sqm with 12 on-site car parks and a commanding street frontage of 35.47m.
“This is a genuine generational opportunity positioned within one of Melbourne’s most tightly held and highly sought-after commercial pockets,” Kombi said.
“We’re expecting interest from occupiers, investors, value-add players and developers given the scarcity of the offering, its functionality and high connectivity.
“Occupiers have the chance to be ideally positioned to service the surrounding suburbs and Melbourne’s south-east, while investors, value-add players and developers will recognise the strong demand that exists from tenants to gain a foothold in a location like this.”
He said the property is just off Tooronga Road and next to the Monash Freeway/CityLink, and is directly opposite Mitre 10 and next to Hertz and Bounce Inc., only metres from Tooronga Railway Station, within the Glen Iris commercial pocket located just 10 kilometres south-east of the Melbourne CBD.
It is also within walking distance to Malvern Road’s popular lifestyle precinct and Tooronga Village shopping centre, home to Coles, First Choice Liquor, Dymocks, Amcal and eateries.
“The property presents an incredibly rare landholding of this size in a strategic location surrounded by a number of Victoria’s most prestigious and highly-valued suburbs including Toorak, Malvern, Armadale, Hawthorn East and Camberwell,” Sandrin said.
CBD Building Bought By Neighbour
The Commonwealth Superannuation Corporation (CSC) has paid around $40 million for a 13-storey CBD office building next to its 101 Collins Street tower.
The 63 Exhibition Street building, which was offloaded by the Tarascio family’s Salta Properties, had been earmarked for a 52-storey luxury apartment and hotel project. However, the $63 billion CSC – which manages the superannuation of federal public servants – is not expected to take up the plans and instead protect the views from 101 Collins Street out to the Yarra River, Botanical Gardens and Government House.
Over the years the CSC has also acquired nearby properties at 107-109 Flinders Lane, a 6-level office building at 45 Exhibition Street, part of 121 Flinders Lane, and suites at 55 Exhibition Street.
Bunnings Warehouse Sells for $20m
The new Bunnings Warehouse-leased property in Wonthaggi has sold for around $20 million, on a 5% yield.
Bunnings has a 10-year lease over the 9,000sqm purpose-built warehouse at 140 McKenzie Street, which is on a 2.1ha site with 220 car parking spaces.
The new owner is a private local family with other interests in the region.
Disclosure: The weekly Fitzroys Property Wrap is for information only on transactions in the Melbourne property market. Fitzroys provides this information as a public service. We are not purporting that all sales and leases within this report were transacted by Fitzroys. Terms/Privacy © Copyright 2025 Fitzroys.