358 Orrong Road, Caulfield North
An investor paid $8.7 million on a 6.03% yield for the strata-titled 1,042sqm ground floor property occupied by a Woolworths Metro and BWS. Woolworths has a 17.5-year lease to 2035 with options to 2055, bringing $524,769pa plus GST.
597 Dorset Road, Bayswater North
An investor acquired the El Jannah restaurant property for $3.31 million. It has a 449sqm building on 1,136sqm of land with 32 car parks, and is leased for 10 years to the end of February 2033 with 2 further 10-year options for a current return of $159,559pa plus GST.
157 Glenferrie Road, Malvern
The 220sqm building sold for $2 million. It is occupied by clothing label Fella Hamilton, returning $90,000pa in rent.
58 Tunstall Square, Doncaster East
Offered for the first time since 1990, the vacant single-level 67sqm shop with Commercial 1 zoning sold for $1.13 million.
46 Tunstall Square, Doncaster East
A local investor bought the 83sqm shop for $1.11 million. It has a 5-year lease to Great Earth Health Shop running until May 2029, returning $54,325pa.
Level 1, 454A Church Street, Cremorne
An owner-occupier paid $1.050 million for the 198sqm property.
Building 12, 45 Vere Street, Richmond
A private investor bought the 200sqm 3-level office for $1.15 million.
7 Whinstone Street, Cobblebank
The 2,914sqm parcel of land sold for $2.3 million, with a permit for 6 individual factory units, and an alternate option to construct 1 factory of 2,200sqm.
4 Northpark Drive, Somerton
Offered vacant, the 420sqm office and warehouse sold for $1.25 million.
260 McIntyre Road, Sunshine North
The 200sqm factory on a 581sqm Industrial 3-zoned site sold for $1.2 million.
299 Canterbury Road, Canterbury
The 746sqm showroom, office and warehouse building was leased at $161,500pa.
125-135 Weddell Road, North Geelong
The 4.288ha Comprehensive Development-zoned former Geelong Saleyards site sold for $11 million.
14-16 Brice Avenue, Mooroolbark
A NSW-based investor bought the 402sqm medical building on 484sqm of land for $3.34 million, on a 4.85% yield. It has a new 10-year lease with options to a general practice medical group, and a sublease to publicly listed pathology provider Australian Clinical Labs.
2 Ferguson Road, Leopold
The 795sqm freehold corner site with a 291sqm dental practice building sold for $1.654 million, on a 5.22% yield. Abano Healthcare has a renewed 5-year lease to November 2030 with 2 further 5 year options, currently bringing $87,111pa plus GST.
Geelong CBD Healthcare Property Investment Sells Under the Hammer Following National Interest
A Geelong CBD healthcare property investment has sold under the hammer after another campaign that saw national interest in the fast-evolving city.
Fitzroys’ Chris Kombi and Lewis Waddell, in conjunction with Andrew Prowse and Tim Darcy of Darcy Jarman, sold 36 Ryrie Street, Geelong under the hammer for $1.59 million, on a 5.6% net yield, and high building rate of $12,000 per sqm.
The property has a corner frontage of 24m and is leased to national operator MoleMap on a brand-new eight-year lease with two further terms of five years each, returning $90,000 per annum plus GST, with 4% annual increases.
Kombi said, “This is a very bullish yield for a strata titled commercial asset in Geelong.”
“This impressive outcome highlights how a secure lease to an essential service provider significantly boosts investor appeal. Traditionally, strata yields in Geelong are higher than those seen in Melbourne, however the presence of a reputable tenant can have a positive flow on effect and compress the yield.
“Furthermore, well-located assets with long leases to health and wellness operators are attracting a range of investors seeking security at a time of volatility in the residential and share markets.”
The property is positioned on the ground floor of the $200 million Geelong Quarter mixed- use development, which includes a 114-apartment tower and the 180-room Holiday Inn Hotel, in the heart of Geelong’s booming CBD and its flourishing medical and health precinct. Major traffic drivers located in immediate surrounds ensure constant foot traffic, supporting trade throughout the day and into night.
“The transformation of the CBD and broader region means we’re consistently seeing Geelong properties attract interest and bidding from local, Melbourne and interstate groups,” Waddell said. “In this case, the property sold to a Melbourne-based buyer, with the underbidder from South Australia, while multiple NSW-based groups made inspections throughout the campaign.
“There are a lot of buyers actively looking to be a part of the Geelong growth story.”
Near to the property are the headquarters of TAC, NDIS and WorkSafe along with Deakin University and Geelong train station, and it is opposite the $140 million Arts Centre and just metres from the Geelong Gallery that is earmarked for a $150 million upgrade.
Greater Geelong is one of Australia’s fastest-growing regions. with the population forecast to increase by 28.7% between 2024 and 2034. The City of Greater Geelong is now devising an economic and development plan that generate a further 55,000 new jobs in the region, increasing Gross Regional Product (GRP) by $9.7 billion by 2041 and attracting 120,000 people.
The city has had the highest growth across all three major economic indicators of GRP, jobs and employed residents compared to similar regions and cities across Australia. Greater Geelong has an estimated GRP of $15.4 billion, 120,000 local jobs and 19,600 businesses.
Darcy said that investors are showing strong interest highly accessible assets.
The Geelong Ring Road and Princes Freeway just moments away from the property, providing connectivity to Melbourne, the Surf Coast and the entire southwest of Victoria.
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.