9 Matterhorn Drive, Clyde North
An investor bought the new Guzman y Gomez restaurant for $5.9 million. Guzman y Gomez has a 20-year lease plus options to 2075, returning $274,626pa, over the 2,531sqm site.
238 High Street, Ashburton
The 215sqm building on 231sqm of land home to the Ashburton Eye Clinic sold for $1.671 million. It has 3-year lease returning $70,434pa net plus GST, and has rear off-street parking for 3 cars.
70-74 Rosslyn Street, West Melbourne
The 195sqm Mixed Use-zoned corner site sold for $1,527,500. It has a monthly lease to Le Taj Restaurant & Lounge.
718 Sydney Road, Brunswick
Offered with vacant possession, the 224sqm 2-level building with a ground-floor hospitality fit-out and on 215sqm of land sold for $1 million.
33 Lincoln Square, Carlton
The University of Melbourne paid $17.8 million for the 4-level, 2,965sqm building. The building was previously occupied by the Save the Children Foundation and includes 4 apartments on the top floor. CareSuper was the vendor.
16 Lakeside Drive, East Burwood
The 2,314sqm office block within Tally Ho business park sold for just over $8 million.
1 Healey Road, Dandenong South
Summertime Pools paid vendor ESR $26.5 million for the 28,750sqm site, which has 2 modern manufacturing and warehousing facilities with a combined gross lettable area of 12,073sqm.
21 Clements Avenue, Bundoora
The vacant standalone industrial asset sold for $1.65 million. It comprises a 533sqm office and warehouse on 929sqm of Industrial 3-zoned land.
12 Dendle Street, Grovedale
A local owner-occupier paid $1.57 million for the vacant 470sqm standalone office and warehouse with 4 car parks.
30 Rushwood Drive, Craigieburn
The 950sqm site improved by a 390sqm shed sold for $1.155 million.
23 Orthla Avenue, Heidelberg West
Offered with vacant possession, the 207sqm warehouse on an Industrial 3-zoned corner site sold for $800,000.
355-357 Whitehorse Road, Nunawading
The 2,264sqm Residential Growth – Schedule 1-zoned corner site sold with vacant possession for $4.3 million. It has an existing 650sqm church building previously used as the Blackburn North / Nunawading Uniting Church.
219 Southern Road, Heidelberg West
A local developer bought the 3,319sqm site for $2.65 million. It is permit-approved for a childcare centre and townhouse project.
Centre of the Action – New Lease to Hospitality Institution
A super-prime retail investment in the heart of one of Melbourne’s best-performing shopping strips is going to auction early in December, in a true generational offering.
Fitzroys agents Mark Talbot and Tom Fisher are marketing 397 Centre Road, Bentleigh on behalf of a private vendor that has held the property for 50 years.
Expectations are of $1.6 million plus. The auction is scheduled for Friday, 5 December at 12pm.
The property comprises an immaculately presented, recently refitted 186sqm ground floor hospitality area with a new, secure 5+5+5-year lease to highly regarded and highly rated Greek restaurant St James Souvlaki, returning $76,384.40 per annum plus outgoings and GST.
“This is one of the best investment offerings in one of Melbourne’s best-performing shopping strips offered to the market this year,” Talbot said.
“Well-leased, well-located opportunities in Melbourne’s shopping strips present excellent investment fundamentals. We’re expecting interest from investors looking for super-prime real estate offering a secure rental income from a quality tenant.”
He said the property is in an unrivalled position within the Centre Road, Bentleigh strip which, according to Fitzroys’ new Walk the Strip report, for the first time claimed the lowest vacancy rate in Melbourne, at just 1.0%.
“Centre Road, Bentleigh’s strong trade and consistently low vacancy rates have been a reflection of a very healthy retail offering anchored by three supermarkets, complemented by fashion, services, fresh food, café culture and eateries, and a great mix of national tenants and popular local operators,” Talbot said.
The property is surrounded by a plethora of national operators including Chemist Warehouse, CBA, ANZ, Sportsgirl, Sussan, Flight Centre, Hunky Dory and more, has unique access to a public car park and Coles supermarket at the rear, and is just metres from the revamped Bentleigh train station.
“The strip continues to prove the pull of plentiful car parking, and enhanced accessibility,” Fisher said.
“Centre Road’s accessibility by car, bus and tram allows the strip to draw shoppers from a wide catchment throughout the day.”
He said the strip has been supported by excellent demographic fundamentals and a rapidly expanding residential population stemming from the medium- and high-rise residential buildings completed within the area over the past five years.
Twice the Potential – Two Adjoining Warehouses in Rapidly Developing Precinct.
Two properties located within one of Melbourne’s fastest-growing commercial areas – and only 70m from the popular A-grade office towers and luxury showroom precinct of Church Street, Richmond – are on the market.
The 10-14 Yarra Street and 11 Prince Patrick Street properties in Richmond are available separately or as a whole through Fitzroys agents Mark Talbot and Shane Mills. The Expressions of Interest campaign closes Wednesday, 3 December at 3pm.
On 314sqm of land, 10-14 Yarra Street features a substantial 19.05m frontage to Yarra Street, and comprises an open-plan warehouse with staff amenities and roller door access, with scope for retro-fit or subdivision (STCA).
A short-term lease provides flexibility for investment, development and/or owner-occupation.
11 Prince Patrick Street is on a 228sqm site and comprises a well-proportioned office/warehouse with an open plan layout, high ceilings throughout, staff amenities and roller door access, and includes highly sought-after off street parking
Talbot said the total combined site area of 542sqm provides for a magnitude of use and development outcomes (STCA), and noted that both properties are subject to the recently gazetted interim planning controls (DDO53), providing excellent future development prospects (STCA).
“This is a remarkable opportunity for buyers to be a part of one of Melbourne’s fastest-growing commercial areas,” he said.
The properties are situated in Richmond’s thriving office and lifestyle precinct, home to head offices of major companies including REA, Reece, 7-Eleven, Tesla and Endeavour Group, and popular hospitality venues including Top Paddock, Axil, Pillar of Salt, The Prince Alfred Hotel, Public House and Union House are all within walking distance.
Mills said Richmond continues to experience strong urban renewal, with multiple mixed-use projects underway including Goldfields’ $150 million Brighton Street development, which will deliver 125 apartments and townhouses as well as retail and rooftop amenities, and Fortis’ “Richmond Square” project on Wiltshire Street that will comprise 2 residential buildings with retail, offices and hospitality.
The location offers excellent connectivity, with tram routes along Church Street, East Richmond Station just 700m away, and easy access to CityLink and Hoddle Street.
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.