173-177 Upper Heidelberg Road, Ivanhoe
The 540sqm site permitted for a 5 level mixed use development with current improvements of 3 shops plus first floor office sold for $3.05 million.
213-215 Hampshire Road, Sunshine
The 2-level 165sqm shop and office building sold for $1.37 million. The ground floor has been occupied by a dry cleaning business and the first floor by Marcou Lawyers.
4/33 Thomson Street, Belmont
The 85sqm building sold for $400,000, with a monthly lease in place to The Elephant Tusk Thai Restaurant returning around $22,000pa.
5/33 Thomson Street, Belmont
An investor paid $400,000 for the 85sqm space, which has a 3-year lease from November 2024 plus options to a wellness business returning $19,500pa plus outgoings and GST.
Level 11, 100 Collins Street, Melbourne
A purchaser with future occupation plans bought the 289sqm office for $3.25 million from 2 joint owners of 30 years. It is leased for another 3 years.
8 Ponting Street, Williamstown North
An interstate investor paid $9.5 million for the 3,523sqm multi-tenanted site, which covers 3 titles and is zoned Industrial 1. It returns $435,000pa from leases to ASX-listed Service Stream, M2M Marble & Granite, and Allsoluzions Australia.
7/51 Moreland Road, Coburg North
The 560sqm office and warehouse sold for $1.5 million.
22/44 Mahoneys Road, Thomastown
Offered with vacant possession, the 235sqm office and warehouse sold for $660,000.
1065 Heidelberg Road, Ivanhoe
An investor paid $18.2 million for the block of 30 apartments and 2 shops.
286-296 Melbourne Road, Newport
Mercy Health divested the vacant aged care home for $5.7 million, at a rate of $154,000 per bed.
Strong Sale Result for Iconic Port Melbourne Investment
The home of arguably Melbourne’s best fish and chips has netted a strong sale result, as passive investors seeking higher yields and lower land tax liabilities continue to pursue strata assets.
Fitzroys’ Chris Kombi and Tom Fisher negotiated the $2.755 million sale of 105 Beach Street, the home of the famous D’Lish Fish, overlooking Station Pier and adjacent to Port Melbourne Beach, Beach Cove Light Rail Station and Waterfront Place, and moments away from Bay Street.
The sale price reflected a high building rate of more than $10,000 per sqm.
A local investor was the purchaser.
The property was offered with a secure 10+6+6+6-year lease to the longstanding business.
Kombi said the competitive Expressions of Interest process generated multiple offers.
“Buyers were drawn to the location, with its large local and visitor populations, as well as the property’s secure lease profile and successful tenant - home to arguably the best fish and chips in Melbourne,” he said.
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. 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 Restaurant Guru.
Kombi said, “Strata assets continue to be of serious interest to passive investors who are
chasing higher yields and low land tax liabilities.”
“The property presented an ideal set-and-forget investment. We continue to see investors compete for Melbourne retail properties with secure leases to successful tenants at a time of residential and share market volatility.”
Fisher said the beachfront location is well supported by an abundance of high rise apartment complexes and proposed future development activity, 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,” he said.
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.