342 Queens Parade, Fitzroy North
An investor paid $945,000 on a 4% yield for the 120sqm building on 237sqm of land. The property has a recently renewed 3+3-year lease to fashion brand Toorallie Australia.
258 Scoresby Road, Boronia
Former NRL player Wes Maas bought the 1.466ha site, home to a Genesis Gym, for around $15 million. It is improved by 3,300sqm of building and has 209 on-site parking spaces.
79-83 Maroondah Highway, Ringwood
A local private family acquired the Ringwood Savers building for $10.65 million. On 3,510sqm of Activity Centre-zoned land, the property comprises a 2-level, 2,243sqm big-box showroom that brings total rent of $585,006 plus outgoings per year. Savers’ lease runs to 2034 with options to 2044, while PlanCost Australia occupies the second level on a deal running to 2028 with options to 2034.
12 Strathalbyn Street, Kew East
Offered with a monthly tenancy to a school uniform shop, the 370sqm showroom and office building sold to an owner-occupier for $2.1 million. It has parking for more than 10 vehicles and abuts a council car park.
363-365 Johnston Street, Abbotsford
The single-storey 240sqm commercial building, on a 304sqm Commercial 1-zoned site with 3 on-site parking spaces, sold for $2.1 million.
Unit 8A, 486-490 Lower Heidelberg Road, Heidelberg
An interstate investor paid $2.25 million on a 6.3% for the first floor office. The 428sqm property comes with 18 car parks and has a renewed leased to a longstanding healthcare technology tenant Kestral, part of Jonas Software – a group owned by Toronto Stock Exchange-listed Constellation Software – bringing $145,810pa plus outgoings in rent.
259-261 Colchester Road, Kilsyth South
An expanding owner-occupier paid $13.5 million for the vacant 2.78ha Industrial 1-zoned site, which comprises a 1,922sqm newly renovated office-warehouse facility.
126 McEwan Road, Heidelberg West
The vacant 305sqm brick workshop sold for $1,001,000.
Unit 4/300 Frankston-Dandenong Road, Seaford
Part of a new estate with 12 units, the 242sqm warehouse sold for $925,000.
Unit 5/14-16 Bond Street, Mordialloc
The 543sqm warehouse unit was leased at $82,500pa, or $152/sqm.
106-120 Berkeley Street, Carlton
A private developer paid $11.5 million for the 661sqm Capital City – Schedule 5-zoned site. Seven Seeds Coffee Roasters has a lease until May 2028 returning $177,379pa, with a 12-month demolition clause, and a monthly residential lease returns a further $52,364pa, for a total return of $229,743pa.
252 & 254 Church Street, Hamlyn Heights
A local investor bought the corner medical investment leased to Banksia Medical Centre and Clinic Labs for $2.6 million, on a 6% yield. It comprises 384sqm of building and 20 car spaces on 1,618sqm across 2 titles, and returns $164,308pa net plus GST with new 3-year terms plus options to 2037.
159 Lennox Street, Richmond
The 118sqm building on 299sqm of land, currently operating as a medical practice, sold for $1.225 million.
Interstate Investor Secures Childcare Investment Within Iconic Town Centre
An interstate investor has secured a childcare property within the iconic Emerald town centre, following a Fitzroys campaign that generated huge interest from around the country.
Fitzroys’ Chris Kombi, Tom Fisher and Ben Liu sold the Twinklekids Early Learning Centre at 271 Belgrave-Gembrook Road on behalf of a private investor.
The strong sale price of $3.35 million reflected a tight yield of 5.4%.
On a 1,160sqm landholding opposite the Puffing Billy Railway Station, with a triple street frontage of over 93m, the property is improved by a 60-place childcare facility of 400sqm as well as front and rear outdoor play areas, and has on-site parking and spaces for drop-off and pick-up.
It was offered with a brand-new, secure 10+10-year lease to successful operator Twinklekids, which has 4 locations across Melbourne.
Kombi said the campaign generated more than 100 enquiries from around Australia, ranging from investors to land bankers and developers.
“The purchaser was attracted to the property’s and the childcare sector’s strong fundamentals, the property’s new, secure lease structure to a proven operator, and the strategic location,” he said.
“The Federal Government’s new Australian Child Care Subsidy has further boosted demand for and utilisation of childcare services, providing investors with confidence in the operational performance of assets.
“We engaged with a huge number of interested parties actively looking to deploy capital in this asset class, which continues to provide market-leading defensive characteristics.
“Investors continue to show high levels of trust in well-leased, well-located childcare centre assets, surrounded by well-established communities and growing cohort of young families.”
The property is just moments from Emerald Primary School and is at the gateway to Emerald’s main lifestyle and retail precinct, in close proximity to daily foot traffic and local businesses.
Fisher said land bankers and developers pursued the property given its significant landholding opposite a Victorian tourism icon, in a gateway position to the popular Emerald retail and lifestyle town centre, which is located 44km south-east of Melbourne’s CBD.
The precinct is home to Woolworths and IGA supermarkets, major banks and renowned local eateries, medical services and community hubs, all supported by ample off-street parking and a walkable town layout.
Liu said that Emerald Lake Park, Puffing Billy Railway and numerous walking trails further enhance the town’s appeal to young families and lifestyle-focused residents, which was recognised by the market and contributed to the strong response generated by the campaign.
The area is also well-serviced by key arterial roads including Belgrave-Gembrook Road and Emerald-Monbulk Road, connecting residents to neighbouring towns, employment hubs and transport options such as nearby train stations in Belgrave and Cardinia.
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.