
806-810 Ballarat Road, Deer Park
An investor paid $8,461,536 on a 6.25% yield for the 4,285sqm corner fuel station site. United Petroleum has a 15-year triple-net lease to 2033 with 4 further 5-year options, returning $528,846pa plus GST.
515 Highett Road, Highett
The dual-level 240sqm freehold occupied by Greek restaurant The Hellenic House Project sold for $1.8 million. The new 5-year lease has 5 further 5-year options and currently returns $84,225pa plus GST.
505 High Street, Prahran
A first-time investor bought the 168sqm shop for $1.55 million. Homewares store Home & Abroad Trading occupies the building on a lease that brings $75,712pa plus outgoings and GST.
238 Como Parade West, Parkdale
The 149sqm shop and dwelling on 217sqm of land sold for $1.4 million. The ground floor retail space is tenanted by the longstanding Parkdale newsagency and Lotto business, which has a new 5-year lease.

112 Fitzgerald Road, Sunshine West
Offered with vacant possession, the 248sqm 2-level office, retail and apartment building sold for $800,000.

155 Yarra Street, Abbotsford
A local owner-occupier paid $6.55 million for the 1,211sqm office, warehouse and storage facility, which is on 1,293sqm of Industrial 3-zoned land with parking for 8 vehicles.
398-400 Ferntree Gully Road, Notting Hill
The 533sqm dual-tenanted warehouse and showroom building on 1,572sqm of land sold for $3,131,780, on a 5.33% yield. It is leased to Ability Ease Healthcare and Auto Prestige Services for a combined rent return of $167,054pa.
239 Wickham Road, Moorabbin
The vacant 722sqm warehouse on 1,091sqm of Industrial 1-zoned land with 6 car spaces sold for $2.875 million.
81-83 Racecourse Road, North Melbourne
An owner-occupier acquired the vacant single-level 451sqm warehouse building on a Commercial 1-zoned site for $1.588 million.
6/37-39 Slater Parade, Keilor East
Offered with vacant possession, the 388sqm building with a 122sqm mezzanine and 4 allocated car spaces sold for $1.15 million.

72-80 Forest Street, Castlemaine
A QSR operator secured the 4,310sqm Commercial 1-zoned corner site for $4.2 million.

115A Mentone Parade, Mentone
An investor paid $3.31 million on a 5.49% yield for the 442sqm medical practice building. It is leased to Myhealth, 90% owned by ASX-listed Medibank, on a 10-year lease to 2030 plus options, currently returning $181,654pa plus GST. The building received a $565,000 refurbishment in 2020, and is on a 493sqm Activity Centre-zoned site.

Ultra-Rare Childcare Investment in Blue-Chip Brighton
Ultra-Rare Childcare Investment in Blue-Chip Brighton
An ultra-rare childcare investment in Melbourne’s blue-chip suburb of Brighton is on the market.
Fitzroys’ Chris Kombi, Tom Fisher and Ben Liu are managing the Expressions of Interest campaign of the Bambini Early Learning Centre property at 75 Wilson Street, Brighton, which closes on Wednesday, 3 June at 3pm.
The agents are acting on behalf of a private investor who has owned the property for 37 years.
Price expectations are of around $4.3 million.
The significant landholding of 1,133sqm boasts an extensive 15.24m frontage. Improvements consist of a high quality, exceptionally-maintained childcare facility of 400sqm, complemented by an expansive outdoor play area. There is on-site parking for multiple cars.
Bambini Early Learning Centres is a premium early education provider with 12 locations across Victoria and has operated successfully from this site for 17 years. Its long lease with options until 2044 currently returns $274,760pa plus GST.
“This is the ultimate land bank investment opportunity within Bayside’s most sought-after residential and lifestyle pocket,” Kombi said.
“The centre’s close to Bayside’s most recognised primary and secondary schools including Brighton Primary, Brighton Grammar, Firbank, St Leonard’s, and Star of the Sea, which attract huge numbers of families to the area, ensuring ongoing demand for childcare services into the long-term.
“The Federal Government’s new Australian Child Care Subsidy guarantees at least three days of subsidised childcare per fortnight, further boosting demand for and utilisation of childcare services, and providing investors with assurance of the asset’s operational performance.”
Fisher said it was ultra-rare for landholdings of this size in Brighton to come to the market.
“The sheer size of this landholding and its blue-chip location provide excellent future development potential (STCA) and prospects,” he said.
“Brighton’s excellent hospitality, shopping and lifestyle amenity, unrivalled education offering, high median house price, and high accessibility mean perpetual desire for residential product in the area.”
Brighton is home to Melbourne’s highest-performing shopping strip in Church Street, as well as popular Bay Street, Brighton Beach, Dendy Park, Wilson Reserve, Billilla Mansion and more.
The suburb’s median house price was $3.25 million as on April 2026, according to realestate.com.au.
Liu said interest was expected to come from local, interstate and offshore investors and land bankers.
“The reputation of Brighton as a place to invest for the now and into the future extends far and wide,” he said.
“Well-located Australian childcare assets with quality operators such as this continue to provide market-leading defensive characteristics, while the suburb’s fundamentals ensure future investment and development prospects that are comparable to anywhere in the country.”
Generational Melbourne CBD Corner Investment Going to Auction
The Melbourne CBD is set for its next generational retail property auction, with a corner investment occupied by a popular hospitality operator and located in a bustling seven-days-a-week location going under the hammer in June.
Fitzroys’ Lewis Waddell, David Bourke and Ben Liu are marketing 302 Flinders Lane for sale on behalf of a local investor, with the on-site auction set for Thursday, 11 June at 12pm.
Expectations are of $1.6 million-plus.
Located in a high-profile trading position just a few metres from Elizabeth Street, the substantial 164sqm ground floor corner property was recently refurbished with a high-quality fit-out and is being offered with a 7 5-year lease to Chinese restaurant North East China Family, returning $86,387pa net.
The property features a restaurant fit-out with a commercial kitchen and mezzanine private dining areas, and has an extensive corner frontage to Flinders Lane and Staughton Alley.
“This is an ideal set-and-forget Melbourne CBD property investment,” Waddell said.
“It’s offered with a strong tenant covenant - the longstanding, high-performing tenant is busy every day at lunch and dinner, and has a secure 7 5-year lease for a strong rental return.
“Their recent extensive refurbishment demonstrates their commitment to this location and the Melbourne CBD more broadly, and the confidence they have in its long-term trade prospects.”
Fitzroys’ new Walk the CBD report shows vacancies in Melbourne’s CBD have come down over the past 12 months from 6.1% to 4.6% - a long-term, pre-COVID low. Hospitality, food and beverage and entertainment operators were again the driving force of enquiry and take-up, amid growing demand for eateries and dining experiences, and a visitors spending more on their CBD outings.
Flinders Lane vacancies were down to just 3.2%, according to Walk the CBD, while
Elizabeth Street vacancies fell further to 5.3%. Both figures have improved dramatically year-on-year since COVID.
“The property’s in a really vibrant seven-days-a-week CBD location, benefiting from a constant pedestrian flow of visitors, workers, tourists and locals,” Bourke said.
“It’s close to Flinders Street Station and the brand-new Metro Tunnel access point, and is surrounded by a diverse range of eateries including Brunetti, Pidapipo, KFC, McDonald’s, Grill’d, and a huge number more along Elizabeth Street and Flinders Lane.”
Liu said early enquiry has been from local, national and offshore investors that share with the tenant a long-term confidence in the Melbourne CBD, and who are attracted to the strong leading fundamentals of the property, as well as those appreciative of the hugely rare opportunity to get a foothold into this location.
The property is exceptionally well connected, providing seamless access from across the CBD and Melbourne’s suburbs. It is situated within the Free Tram Zone with multiple tram routes operating along nearby Elizabeth and Flinders streets, and is just a short walk from major Flinders Street Stations, and the new Town Hall Metro Station.
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.