204 Glenferrie Road, Malvern
An investor paid $1.425 million on a 4.5% yield and land rate of circa $10,000/sqm for the 137sqm double-storey building. It has a brand-new 5-year lease to longstanding tenant Homing Instincts.
1203-1205 High Street, Armadale
The 431sqm freehold on 322sqm of land sold for $5.3 million. It is occupied on long-term leases by Endota Spa and café Small Wins, for a combined rental of $243,360pa.
2/5 Riverland Road, Clyde
An investor paid $703,000 on a 5.54% yield for the shop, which is occupied by bubble tea operator Boba vibes on a 7-year lease to October 2032 with a 7-year option, currently returning $38,925pa plus GST.
3-7 Shelley Street, Richmond
Offered with vacant possession, the 850sqm office, showroom and warehouse building on a 487sqm Commercial 2-zoned corner site sold for $3.18 million.
13/7 Dalton Road, Thomastown
The 346sqm office and warehouse unit sold with a short-term lease for $1.165 million.
1 & 2, 53 Temple Drive, Thomastown
The 1,040sqm site with 759sqm of building area across 2 adjoining office/warehouses sold vacant for $1.55 million.
8/123 Chesterville Road, Moorabbin
Comprising an office and warehouse space as well as a caretaker’s residence, the 318sqm property sold for $1.375 million.
34-44 Raglan Street, Preston
A multinational Asia-based homewares and furniture retailer leased the 13,231sqm facility at $130/sqm net plus GST, which it will use as a warehouse and dispatch hub. ASX-listed Growthpoint Properties Australia is the owner of the property.
187 Dandenong Road, Windsor
Property developer Pace paid around $40 million for the 1.89ha Windsor Hall property, home to the former Presentation College. It has plans for staged housing on the site.
203-207 Bridge Street, Richmond
Orius Property, a subsidiary of New Caledonian group Comagnie Des Chargeurs Caledoniens, acquired 80-room The Motley Hotel for close to $40 million. The 8-level property opened in February of 2023 and is operated by third-party manager La Vie Hotels & Resorts.
The Ultimate Smith Street Investment Going To Auction
The ultimate investment opportunity in Melbourne’s premier nightlife and hospitality precinct is headed to auction.
Fitzroys’ Mark Talbot and Shane Mills are marketing 95-97 Smith Street, Fitzroy on behalf of a private vendor.
The auction is scheduled for Friday, 27 March at 1pm on site.
Perfectly located on a substantial 434sqm site with an 11m frontage close to the intersection of Smith and Gertrude streets, the 664sqm property is offered 100% fully leased, returning $305,928pa plus outgoings and GST in rent from two tenants.
The majority of the property’s income is derived from Melbourne Hospitality Co with the benefit of a long lease to 2033 with a further option and includes a valuable 7-day 3am liquor licence for 495 patrons.
“The property’s size and lease profile makes it a key player in what is one of Melbourne’s most compelling nightlife locations,” Talbot said.
“A bevy of popular and well-established restaurants trade along Smith Street and Gertrude Street, and some of Melbourne's most prominent nightclubs including Yah Yah’s, Circuit and New Guernica are all within 50 metres of the property.
“Major retailers including Lululemon, KFC and Guzman y Gomez all joining the world- renowned strip1 as it moves through its next phase of evolution.”
On valuable Commercial 1-zoned land, the property’s leases each include development clauses, providing the ultimate flexibility for future redevelopment (STCA) at the gateway to Melbourne’s premier nightlife and hospitality precinct and just one kilometre from the CBD.
“Collingwood has been one of inner Melbourne’s most intensive commercial and residential development locations in recent years, boosting the immediate catchment of Smith Street and spurring trade and activity across all hours,” Mills said.
CASA’s upcoming 243 Smith Street development will add another 124 residences to the immediacy of the strip, as well as a new Woolworths supermarket and commercial space; while the Victorian government’s nearby Fitzroy Gasworks is delivering circa 1,400 homes, a senior high school, and sports centre.
Smith Street services a broad and diverse catchment that includes Fitzroy, Collingwood, Clifton Hill, Fitzroy North and Northcote, and receives visitors from across Melbourne and beyond each day, Talbot added.
The area benefits from excellent connectivity, with the Route 86 tram running along Smith Street, and trams running on nearby Brunswick Street, Nicholson Street and Victoria Parade, as well as buses, train stations and major arterial roads all close.
Mills said that ongoing infrastructure improvements in the surrounding area continue to enhance mobility and reinforce the precinct’s appeal as a highly accessible and well- connected urban destination.
A Sure Fit on One of Melbourne’s Most Famous Shopping Strips
One of Melbourne’s most famous shopping strips - with a big future ahead - is set for a prime investment auction later this month.
The home of national retailer Mountfords Shoes, at 751-753 Burke Road, Camberwell, is being marketed through Fitzroys agents David Bourke, Chris James and Ben Liu, with the auction set for Thursday, 26 March at 1pm on-site.
The property comprises a 2-level building encompassing 420sqm with a ground-level showroom, upper level storage and on-site car parking, and a dominant 12.2m frontage opposite Burke Road’s main pedestrian crossing in a prime position.
Surrounding the property are major national and local retailers, trading banks, three supermarkets in Woolworths, Coles and Aldi, and key anchors including Kmart, Officeworks, Dan Murphy’s, JB Hi‐Fi, and the Camberwell Fresh Food Market.
The 751-753 Burke Road property is being offered with a renewed lease to leading national footwear retailer Munro Footwear Group, generating $315,000 plus outgoings and GST. Munro Footwear Group is an Australia-operated business established in 1962 and today employs over 2,000 staff nationally.
“This is a flagship offering leased to a longstanding national tenant, in the prime of one of Melbourne’s most famous shopping strips, and which has a big future ahead of it,” Bourke said.
“Burke Road, Camberwell services one of Melbourne’s most affluent and established residential catchments, as well as a growing office market with recognised local and international businesses that is attracting more residents who want to live, work and play in one of Melbourne’s renowned lifestyle precincts.”
“Further Burke Road and Camberwell Junction is one of the major key tram, train, jobs and services hubs designated by the Victorian Government as an Activity Centre, set to encourage the development of residential and mixed-use buildings of up to 12 levels on and around the strip over the coming decades.
“The Activity Centre initiative is projected to provide a huge boost to Burke Road, Camberwell over the long-term, adding to the immediate catchment and further promoting trade and activity.”
James said ongoing development around the strips accommodating the city’s strong population growth has been a key driver of their admirable performance in recent years.
Liu noted the accessibility of Burke Road and Camberwell Junction.
“One of the key drivers of a successful shopping strip is easy accessibility,” he said.
“This location offers excellent connectivity through Camberwell train station, multiple tram routes to and from the CBD and the surrounding suburbs, and abundant public parking.”
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.