500 Church Street, Cremorne
Listed furniture retailer Nick Scali acquired the 1,935sqm showroom on a 1,027sqm site occupied by Coco Republic for $22 million. Coco Republic has been at the property since 2000 and has 3 years remaining on its lease.
377-379 Sydney Road, Coburg
The 800sqm 2-level building on 416sqm of land sold for $2.65 million. The ground floor retail space is vacant and the first floor has a 5-year lease to Vicseg New Futures. It is on 416sqm of Activity Centre-zoned land with a public car park to the rear.
7/5 Riverland Road, Clyde
The newly-completed property sold for $716,000 on a 5.16% return. All-day eatery Farmgate Café & Co has a 10-year lease to October 2035 with 2 further 5-year options, currently returning $36,975pa plus GST.
39-41 Clunies Ross Crescent, Mulgrave
An investor paid $1.55 million for the 370sqm office on a 6.33% yield.. Long-term tenant Coster Galgut occupies building 39 and the ground floor of 41 on a 3+3+3-year term from July 2024, and Commtech has a 2+2+2-year agreement over 41’s first floor from June 2025. Total return is $98,168pa plus outgoings and GST.
66 Logis Boulevard, Dandenong South
The industrial facility, occupied by Headstart International, sold for $10.65 million on a 5.38% yield.
3 Kinder Street, Campbellfield
The 858sqm warehouse with mezzanine and featuring a crane on a 1,103sqm site sold for $1.95 million.
42 Red Gum Drive, Dandenong South
A metal manufacturer leased the 1,109sqm warehouse on a 1,852sqm site at $133,080pa plus outgoings and GST.
402-416 Chapel Street, South Yarra
Bill McNee acquired the 3,306sqm block for around $65 million from the Fraid/Fried family, who is behind Spotlight Group. They had just spent $183.5 million acquiring McNee’s 12-storey, 13,000sqm St Germain mixed use development in Toorak Village.
100 Panton Street, Golden Square
An investor paid $6.5 million for the Discovery Bay Early Learning childcare centre property, on a 5.95% yield. The 1,136sqm centre has a 20-year lease.
Blue-chip Melbourne CBD Laneway Investment Sells
One of the Melbourne CBD’s first blue-chip laneway offerings for 2026 has sold.
Fitzroys’ Mark Talbot and James Lockwood sold 20 Russell Place, Melbourne for $1.29 million, on a 5.6% yield.
The 55sqm ground floor property sold with a new 5+5-year lease to a tenant trading under the New York City fashion label Knickerbocker name.
“Buyers were attracted to the iconic East End laneway address and secure lease to a highly-regarded New York City fashion label,” Talbot said.
Lockwood said the location also offered excellent future growth prospects, which attracted interest from both investors and buyers with an eye to future occupation.
The Russell Place thoroughfare itself between Little Collins and Bourke streets has been undergoing extensive revitalisation, evolving into a destination in its own right for boutique retail, dining and nightlife experiences, he said.
The city more broadly is also presenting excellent opportunities, he added.
“Melbourne’s CBD has had a fantastic start to the year, with people returning to the office, the opening of the Metro Tunnel, and the Australian Open and recently-completed developments and new retail offerings bringing in huge crowds.”
The Peninsula’s Premier Pharmacy Investment
The Mornington Peninsula’s premier pharmacy-leased investment property is going to auction this month.
Tom Fisher and David Bourke of Fitzroys are marketing the high-profile freehold at 1045 Point Nepean Road, Rosebud, with the auction scheduled for Saturday, 14 March at 11am.
The single-level 235sqm building boasts an exceptional 8.1m street frontage to Point Nepean Road, and has a 5 + 5-year lease to an established tenant trading as Amcal (more than 200 stores across Australia), returning $101,092 plus outgoings and GST.
“The vitality of this property to this thriving coastal precinct is reflected in the fact that the site has been operating successfully as a pharmacy for over 65 years,” Fisher said.
“The high-quality essential services tenant and the prime location offer excellent investment security.”
On a generous 290sqm Commercial 1-zoned landholding with rear access via ROW, the property is in an absolute prime position within the Rosebud shopping and lifestyle precinct, anchored by Woolworths, Westpac, Bendigo Bank, Peninsula Cinemas, Rosebud Hotel and more, with an abundance of surrounding public parking options, and opposite the popular Rosebud Beach and foreshore.
According to research house .id, the Mornington Peninsula is set to see population growth of nearly 10% over the next 20 years, further underpinning demand for services, Bourke noted.
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 2026 Fitzroys.