525 Toorak Road, Toorak
A private investor bought the strata-titled Toorak Village shop for $1.060 million, at a building rate of around $15,000/sqm and on a 5.2% yield. It has a 3+3-year lease to multi-store tenant Nutrition Shark.
66-70 Nicholson Street, Footscray
The 340sqm property comprising 4 shop fronts and 5 tenancies positioned opposite the former Little Saigon Market site sold for $2.72 million.
73-75 Peel Street, West Melbourne
An investor paid $2.5 million for the 306sqm building, which is leased to entertainment operator Virtual Room Melbourne on 3-year deal to June 2026, returning $127,141pa plus GST.
13 Pearl Street, Torquay
A local investor bought the 4 shops in one line for $2 million. The property has 200sqm of building area on 453sqm of land with 6 car parks, and returns a combined $101,689pa net.
99 Railway Road, Blackburn
Western Australia-based syndicator Ascot Capital acquired the 7,878sqm office building, fully leased to The Salvation Army, for $54.35 million on a 6.5% yield. The 2007-built property sold with a 9.8-year weighted average lease expiry (WALE). It includes 204 basement car parks and has a 5.5-star NABERS rating.
8/3-5 Gilda Court, Mulgrave
The 580sqm office and warehouse split into 2 tenancies sold for $1.875 million. The ground floor is leased on a short-term deal and the first floor has a 12-month leaseback agreement for a combined annual return of $129,675. The property has 18 car parks.
1/27 Ascot Vale Road, Flemington
An investor bought the 245sqm warehouse for $1 million. It has a new 2-year lease to a fitness centre returning $47,000pa.
811-821 Bridge Inn Road, Doreen
The 30,350sqm in-fill residential subdivision site sold for $8.5 million.
10 Leith Road, Montrose
An investor bought the medical clinic property for $2.32 million, on a 5.16% yield. SIA Medical has a 7-year lease with 3 further options of 5 years each, currently returning $119,751.50pa plus outgoings and GST. The purpose-built 252sqm centre has 7 consulting rooms and is on a 1,426sqm site with 24 car parks.
259 Bell Street, Preston
A medical owner-occupier bought the 385sqm building with 3 suites and on-site parking for $1.435 million.
Rare 26-Room Residential Facility Suited to Investors and Accommodation Provider
A truly unique, future-proofed offering in a booming Melbourne growth corridor is on the market.Fitzroys’ Chris Kombi and Tom Fisher are marketing 48, 50 & 52 Childers Street, Cranbourne for sale via Expressions of Interest closing Thursday, 20 November at 3pm, on behalf of a private investor.
Expectations are of $5.5 million-plus.
The asset comprises three purpose-built accommodation facilities with 26 private rooms with ensuites, and secure on-site car parks at the rear. All buildings boast modern security and accessibility features including keyless entry, alarm systems, and disability access, along with shared kitchens and living zones.
They are on a substantial landholding of 2,876sqm over three titles with a 52m frontage to Childers Street.
The property is currently 100% leased on flexible agreements, returning $459,420 per annum.
“This is a truly unique and versatile future-proofed asset in one of Australia’s fastest-growing corridors,” Kombi said.
“It’s a rare offering that suits a wide range of buyer profiles.”
He said there is excellent scope for future occupation by a variety of accommodation and health providers.
“Aged care and assisted living operators, community housing, crisis accommodation, medical and allied health facilities have all figured amongst the early enquiry, all looking to service Melbourne’s booming south-east corridor.”
Fisher said, “Investors have also been prominent in enquiry, given the strong, stable rental return prospects derived from heavy demand for essential accommodation and community services in the region, with fierce competition from providers for functional facilities.”
He noted the property is strategically positioned within the City of Casey, which has a forecast population growth of 43% by 2046.
“The property is in the heart of Cranbourne’s fast-growing residential and lifestyle precinct, positioned moments from essential infrastructure and amenity, complementary uses including schools, medical facilities, community services, and retail and lifestyle attractions, and more.”
Within metres are Cranbourne Primary School and a day care and kindergarten, as well as Chisolm TAFE, while Medicare, high street retail, Cranbourne Park Shopping Centre, and Monash Health are all within close proximity.
“This property is superbly located to benefit from Cranbourne’s ongoing urban expansion,” Fisher said.
Kombi said interest has also come from land bankers looking to capitalise on the site's long-term upside potential.
The area also offers excellent access to major arterial roads including the South Gippsland Highway, Narre Warren-Cranbourne Road, Monash Freeway and Western Port Highway, while Cranbourne railway station provides strong public transport connectivity to greater Melbourne.
Striking 3 Level Freehold Within Melbourne CBD’s Flagstaff Gardens Precinct
An architecturally-designed 3-level building plus basement in an outstanding Melbourne city location is for sale.
The 448-454 La Trobe Street, West Melbourne property is being offered for sale through Fitzroys’ Chris Kombi, Chris James and Ben Liu via Expressions of Interest closing Wednesday, 19 November at 3pm.
The vendor is Italian furniture design company UniFor.
Offered with vacant possession, the 750sqm building features lift access, pre-cast concrete design with contemporary finishes, and triple-height void providing architectural impact and excellent natural light throughout the entire building.
The building was constructed in 2006 and designed by acclaimed architectural firm Woods Bagot.
The property is on a valuable city landholding of 347sqm, with a significant street presence with over 15 metres of frontage and additional frontage and access to Phoenix Lane.
“This is an incredibly rare chance to acquire a 3-level freehold in a prime CBD West End location with amazing flexibility,” Kombi said.
“Special Use zoning and immediate availability makes this a premium investment or flagship headquarters ready for occupation in a high-growth CBD area.”
“We’ve had early interest coming from office and showroom occupiers, as well as investors.”
James said the property is in a remarkable location, positioned directly opposite Flagstaff Gardens and Flagstaff train station, with a prime legal precinct address capturing high-value traffic from the Supreme Court, County Court and Magistrates Court, corporate towers, and the nearby Southern Cross train station and retail hub.
“The property is also close to the burgeoning Docklands dining scene, there are popular eateries and cafes along La Trobe Street, and the renowned Queen Victoria Market is moments away, offering a massive daytime food and produce destination,” he said.
“It’s also ideally placed to capture the generational growth taking place in adjoining West Melbourne, which is driving continued and growing demand for residential and commercial product and further boosting activity in this part of the CBD.”
Liu said the property is positioned for unparalleled access across greater Melbourne, serviced by major tram routes on La Trobe Street and is just a few moments from Flagstaff train station, as well as being one block from the city's main transport hub, Southern Cross station, which services all regional and airport-bound trains, as well as several additional tram and bus routes.
He said the property’s Special Use zoning also provides for a variety of development outcomes (STCA).
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.