673 Canterbury Road, Surrey Hills
Home to the Acorn Nursery and Oaks Café, the 3,035sqm Residential-zoned site sold for more than $6 million.
65-71 Watsonia Road, Watsonia
An interstate investor paid $3.75 million on a 5.3% yield for the fully leased, multi-tenanted corner property. It comprises 258sqm of floor space on 455sqm of Commercial 1-zoned land, and returns $212,421 plus outgoings and GST.
1401 Malvern Road, Malvern
An investor bought the 2-storey, 228sqm building for $1.56 million. It is leased to The Diamond Pool & Spa Co., returning $79,927pa plus GST.
916 Glenferrie Road, Kew
An offshore investor paid $1.388 million for the 2-level, 250sqm property, which has a new 5-year lease to hospitality operator Town & Country.
113 Railway Parade, Seaford
The 74sqm shop on 223sqm of land sold for $540,000. It currently brings $18,084pa in rent.
16-22 Pearcedale Parade, Broadmeadows
A not-for-profit owner-occupier bought the former Centrelink office building for $8.5 million. The 2,185sqm building is on 4,694sqm of land with car parking.
13 Enterprise Avenue, Hampton Park
The 48sqm office space sold for $475,000.
4-6 Somerleigh Road, Laverton North
A local private investor bought the 4,088sqm multi-tenanted site for $4 million, on a 5.7% yield. The property comprises 2,400sqm of warehousing with multiple overhead cranes and currently returns $228,556pa plus GST.
90-92 Dandenong Road West, Frankston
The 625sqm building on a 1,342sqm site sold for $3.060 million. It has a 3+3-year lease from the end of September 2022 to Aidacare, returning $165,984pa plus GST.
3/3 Precision Drive, Pakenham
The 383sqm office and warehouse unit sold with vacant possession for $1,271,700.
1/17 Anvil Avenue, Kilmore
The vacant 411sqm factory unit sold for $1.08 million.
27 Central Avenue, Sunshine
The 520sqm warehouse building on 988sqm of land with 8 car parks sold for $1.050 million.
1/8 Northgate Drive, Thomastown
The 222sqm office and warehouse unit on a 350sqm Industrial 1-zoned site sold for $795,000.
27/14 Burgess Road, Bayswater
The 130sqm office and high-clearance warehouse with 2 on-title car parks sold was leased at $22,500pa, or $173/sqm.
1 Kent Road, Surrey Hills
The 9,147sqm site sold for around $20 million. It was formerly home to the St Joseph’s Home for Destitute Boys, established by Mary MacKillop in 1890. The vendor was Youth With A Mission, who bought the property in 1999.
A city fringe warehouse with endless possibilities in the heart of what was recently declared by Time Out as one of the “World’s Coolest Neighbourhoods” is going to auction next month.
Fitzroys’ Chris Kombi and Marco Sandrin are marketing 21-23 Piera Street on behalf of a private investor.
The property is going to auction on Thursday, 4 September at 1pm on-site. Expectations are of $1.9 million-plus.
Located just 55 metres off buzzing Lygon Street, the property is on a valuable inner city landholding of 497sqm with a commanding frontage of 16m, and comprises a single level brick warehouse of 420sqm with four on-site car parks and rear access.
“Offered with vacant possession and Mixed Use zoning, the property provides a blank canvas for a buyer looking to make their mark on one of Melbourne’s thriving inner north neighbourhoods,” Kombi said.
“It’s a truly rare opportunity to secure a functional commercial building located just metres from Lygon Street and within the desirable Brunswick East Village. "This a tightly-held section of Brunswick East and is surrounded by a mix of high-density apartment complexes, shops, warehouses and a bustling nightlife and hospitality scene.
“Piera Street consists of a unique mix of commercial and residential buildings, and this offers the ultimate flexibility to occupy as is, repurpose or convert to residential.”
Global publication Time Out recently named Brunswick East among its “Coolest Neighbourhoods in the World” for its array of dining and nightlife institutions that draws consistent and loyal patronage locally and from across wider Melbourne. Nearby are renowned pizzeria 400 Gradi, Lebanese eateries Téta Mona and Mama Manoush, dining staple Bar Idda, and popular bars including Old Palm Liquor, The Alderman and Atticus Finch - among many more. According to Fitzroys' most recent Walk the Strip report, Lygon Street, Brunswick East has a low vacancy of just 3.7%.
“The surging location has seen a number of residential towers completed in recent years, which has boosted the immediate catchment, activity and trade, and it is set to benefit from further planned high-density residential development in the area,” Sandrin said.
“Melburnians are looking to live, work and play highly-accessible locations with quality hospitality and lifestyle amenity, and Brunswick East has a still-evolving world-class offering.
“There is clearly heightened demand for more retail, hospitality, and residential offerings.”
The location also offers excellent connectivity and exposure with trams 1 and 6 running on Lygon Street close to the property.
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.