387 Bay Street, Brighton
An investor acquired the 280sqm shop and dwelling property for $1.626 million. It is on 185sqm of land and a has a new long lease to children’s party venue Studio Royale.
2 Gellibrand Street, Queenscliff
The home of the Queenscliff Brewhouse sold to a private investor for more than $6 million. On a 1,402sqm corner site, the venue has been recently refurbished by Australian Venue Co, which has a 10-year lease plus options to 2075 that returns $358,685pa.
4A/364-368 Horseshoe Bend Road, Armstrong Creek
The 132sqm corner premises sold for $1.547 million. Indian sweets and desserts manufacturer and retailer Sweet India has a new 7-year lease plus options to 2042, returning $78,025pa plus GST.
102 Maroondah Highway, Ringwood
The 210sqm building on a 288sqm Activity Centre-zoned site sold for $900,000, with a lease to a music shop returning $46,521pa plus outgoings and GST.
Shop 1, 386-388 Keilor Road, Niddrie
Offered with vacant possession, the 60sqm retail space sold for $520,000.
344 Victoria Parade, East Melbourne
A local private investor paid around $13.5 million for the former Melbourne IVF fertility clinic building. Henkell Brothers was the vendor of the 2,444sqm, 3-storey property.
1/34 Sunline Drive, Truganina
The 1,008sqm office and warehouse facility, on 1,593sqm of land, sold with vacant possession for $3.455 million. It is zoned Industrial 1 and has 15 on-site car parks.
6/72 Yuilles Road, Mornington
Offered vacant, the 370sqm dual warehouse unit with 8 car parks sold for $1.235 million.
4 Eastlink Drive, Hallam
The 500sqm office and warehouse on 720sqm of land sold for $1.225 million. It has a lease running to September 2027 with no options which currently returns $50,820pa net.
95A Merola Way, Campbellfield
The 615sqm office and warehouse on an 875sqm Industrial 1-zoned site sold for $1.72 million.
39 Chelmsford Street, Williamstown North
The vacant high clearance warehouse with office space sold for $1.65 million.
11 Percy Street, Heidelberg West
The 310sqm warehouse on 580sqm of land sold for $932,000.
5/56 Bond Street, Mordialloc
The 221sqm office, showroom and warehouse unit with 4 car parks sold for $750,000, with a 3-year lease returning $32,045pa plus outgoings and GST.
39 Breed Street, Traralgon
An investor bought the medical freehold property for $2.39 million, on a 5.10% yield. Medical First Clinics has a 15-year lease to 2037 with options to 2062, currently returning $121,837pa plus GST.
Two vacant South Melbourne commercial properties have been sold over consecutive days for a total of $3.475 million, as investors and owner-occupiers alike pursue assets in the sought-after city fringe locale.
Fitzroys’ Chris Kombi and Tom Fisher managed the respective sales of 279 Coventry Street and 442 Clarendon Street.
“Both properties attracted strong enquiry from a mix of investors and owner-occupiers due to their condition, flexibility, and location,” Kombi said.
“South Melbourne is one of Melbourne’s most sought-after suburbs. It offers established and fast-growing residential and commercial markets, and excellent accessibility via multiple tram routes and main roads, with plenty of parking.”
Kombi and Fisher sold 279 Coventry Street via Expressions of Interest for $2.24 million, on a very high land rate of $17,683/sqm. Comprising a double-storey building of 125sqm, the property was offered with a short-term lease profile.
“Coventry Street is one of Melbourne’s most buzzing lunchtime strips. More people are wanting to be part of it,” Fisher said.
442 Clarendon Street sold under the hammer the following day to an interstate owner- occupier for $1.235 million. The 135sqm building was offered with vacant possession.
“Our campaign generated interest nationwide, with buyers around the country recognising the excellent location of South Melbourne and its strong fundamentals,” Fisher said.
On the edge of the CBD, the properties are close to the South Melbourne Market and superbly located amongst a range of lifestyle amenity and strong mix of recognised local and national operators along the popular Clarendon Street shopping and lifestyle strip that includes Coles, Woolworths, Dan Murphys, Vintage Cellars, Bed Bath N’ Table, Hector’s Deli, Fishbowl, Betty’s Burgers and all major banks.
Fisher said an array of recently-completed first-class office developments in the area includes 101 Moray, BVIA on BANK, The Terraces and Market Lane, and has boosted the area’s worker population.
“The growth of office workers in the surrounds has come at the same time as a surge in the local residential population, with high-density living being built in South Melbourne, Southbank and the adjoining Fishermans Bend precinct.
“These are underpinning trade and attracting investors and owner-occupiers.
“Melburnians want to live, work and play in highly accessible locations with great lifestyle amenity, and South Melbourne ticks all the boxes.”
Fishermans Bend is forecast to be home to around 80,000 residents by 2055.
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.