85 Vineyard Road, Sunbury
Kinglake Group bought the converted former Bunnings warehouse for $19.58 million, on a 6% yield. The 5,554sqm property is fully occupied by The Good Guys, Repco, Total Tools, Petstock and Worklocker.
187-191 Tone Road, Wangaratta
An investor paid $4.925 million for the brand new service station property, which includes a 200sqm convenience shop and returns $330,000pa.
89 Albert Street, Windsor
The Ganley Group paid around $3 million for the home of the Windsor Castle Hotel, comprising a 550sqm building on a 512sqm site which includes a beer garden.
769E Glenferrie Road, Hawthorn
A local investor bought the 76sqm store for $1.234 million. It has a new 3-year lease to fashion retailer Rolla’s Jeans, returning $74,000pa.
246 Raymond Street, Sale
An investor paid $525,000 for the 179sqm shop, which has a newly renewed 5+5-year lease to Khayaam Hair Salon, returning $34,000pa.
43 Gheringhap Street, Geelong
The 153sqm 2-level building sold for $900,000. It returns $52,500pa plus GST from leases to law firm Peter Falconer & Associates on the ground floor, and Rebecca Jansma Interior Design on the first floor.
53 Harrick Road, Keilor Park
German packaging manufacturer Multivac bought the near-5,200sqm warehouse on a 16,800sqm site for $17.25 million.
188 Duke Street & 62 Burke Street, Braybrook
An investor paid $4.55 million for the 3,451sqm Commercial 2-zoned property, occupied by auto smash repair group AMA Collision. It comprises a 1,965sqm workshop over 2 building and 38 on-site car parks, and returns $250,751pa net plus GST.
128-146 Obriens Road, Corio
An investor bought the 1,515sqm warehouse within the Wilmac Corio development for $4,147,500, on a 5.82% yield. It returns $241,000pa.
9A Fink Street, Preston
The 525sqm brick warehouse on 736sqm of Industrial 1-zoned sold for $1.915 million.
181 Cherry Lane, Laverton North
Zoned Industrial 3, the 1,003sqm site sold for $1.25 million.
16/132 Keys Road, Cheltenham
Located in Modus Business Estate, the 159sqm office, showroom and storage unit with 3 allocated parking spaces was leased for $36,000pa.
724 High Street, Kew East
A dermatology group purchased the 177sqm medical clinic building for $1.3 million.
Double Auction Success on Hampton Street, Hampton
Two properties on Hampton Street, Hampton have sold through Fitzroys at respective successful auctions as investors continue to see opportunities in Melbourne’s shopping strips.
Fitzroys’ Chris Kombi, Tom Fisher and Ben Liu sold the high-profile corner freehold at 530 Hampton Street for $1.715 million, to a buyer sourced from Fitzroys’ Asian Services database.
The sale, which reflected a tight 4.7% yield, followed a competitive sales campaign that ultimately generated bids from four parties at a hardly-fought auction.
The property has a 5+5+5-year lease to major restaurant chain Okami Japanese Restaurant. This is the location of Okami’s first-ever store, which opened in 2013 with the “all you can eat” concept that has proven so popular it has now expanded to over 50 locations across Australia.
On a Commercial 1-zoned landholding of 222sqm with a total frontage of 38.7m to Hampton and Ludstone Streets, the 2-level, 250sqm building includes a full-line kitchen, dining areas on both levels and amenities throughout.
“We continue to see investors turn to quality Melbourne shopping strip assets for security at a time of share market and residential market volatility,” Kombi said.
Liu said, “The sale demonstrates the strength of Fitzroys’ Asian Services Database, which provided a competitive tension in the campaign that led to a strong outcome for our client.”
Kombi and Fisher also sold 403 Hampton Street, which becomes vacant in October, for $1.21 million to a value-add investor. In another competitive Fitzroys auction, three bidders competed for the property, which comprises a 175sqm 2-storey shop and first-floor dwelling on a 170sqm site.
The Hampton Street retail, lifestyle and hospitality precinct is anchored by Woolworths supermarket and home to an abundance of quality national and local traders, further underpinned by a rapidly expanding residential population.
“Numerous apartment buildings have recently been completed along Hampton Street with other residential developments in various stages of planning and construction, which investors have recognised as boosting the immediate catchment and supporting trade prospects across the length of the strip,” Fisher said.
According to Fitzroys' latest Walk the Strip report, Hampton Street recorded one of the lowest vacancy rates across Melbourne, at just 3.1%.
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.