12-14 Activity Drive, Ocean Grove
A Sydney investor bought the 7-Eleven service station property for $8.55 million, on a 5.88% yield. It comprises 662sqm of building area on a 5,268sqm Commercial 2-zoned corner site. 7-Eleven has a 13-year lease to 2038 plus options to 2058, and MyCar and Bean Squeeze have 10-year leases to 2035 with options.
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.
473-475 Latrobe Terrace, South Geelong
A local owner-occupier bought the vacant 560sqm showroom for $2.050 million plus GST. It is on 776sqm of Commercial 2-zoned land and has on-site parking for 8 vehicles.
34 Johnston Street, Collingwood
The 2-level 150sqm building, comprising ground floor retail and a 3-bedroom residence above, sold with vacant possession for $1.061 million.
118 Moray Street, South Melbourne
The vacant 3-level, 201sqm office building sold for $1.35 million to an investor who plans to undertake a full refurbishment.
15-17 Marine Parade, Abbotsford
An investor with a view to potential future occupation paid $2.5 million on a 4.8% yield for the 656sqm office and warehouse building, which is on 750sqm of Industrial 1-zoned land. The property was offered with a 3-year lease to a not-for-profit that includes a break clause from March 2027.
2/14 Pearl Street, Brooklyn
The 330sqm warehouse unit suited to food manufacturing and cold storage sold for $1.35 million. It has a food-grade freezer and cool room facilities.
25-27 Sinclair Street, Ocean Grove
An investor paid $1.325 million for the 525sqm warehouse on 1,000sqm of land. Meerkat Manner Indoor Play & Café has a lease until late 2027 with 2 further 5-year options, currently returning $67,188pa plus outgoings and GST.
6/387-393 Old Geelong Road, Hoppers Crossing
The 534sqm clear-span warehouse unit was leased at $65,000, or $122/sqm.
65 Tivoli Road, South Yarra
Buyer advocate Frank Valentic paid $5.11 million for the 3-storey block of flats. The 12 one-bedroom apartments are on 619sqm of land zoned Neighbourhood Residential 2. Current gross annual rent is $234,520pa.
75 Wilson Street, Brighton
An investor paid $4.44 million on a 4.8% yield for the Bambini Early Learning Centre property. Improvements comprise a childcare facility of 400sqm on a 1,133sqm landholding, and Bambini’s long lease includes options until 2044, currently returning $274,760pa plus GST.
22 Pier Road, Grantville
ASX-listed Eureka Group acquired the Frenchview Lifestyle Village for $7.5 million, on an initial yield of 7.9%. The lifestyle village comprises 103 home sites on a 1.48ha coastal landholding.
Influx of Buyers Seeking Strata Assets Sees Another Strong Toorak Village Result
An influx of investors seeking strata assets has seen another strong sales result for a Toorak retail investment.
Fitzroys’ Lewis Waddell and Max Uzunovski sold Shop 8, 521 Toorak Road, Toorak on behalf of a local family, following a deadline private sale campaign that generated 4 offers from highly qualified buyers.
The sale price of just under $1 million reflected a tight net yield for a strata-titled asset within a shopping arcade of 5.9%.
A first-time commercial property investor purchased the 87sqm open-plan property, which was offered with a secure 5+5-year lease to established tenant Hair By Konstantinos.
Waddell said the buyer was attracted to the secure tenant profile with 4 years remaining on the lease, and the attractive return on an asset in a blue-chip area.
“We’re seeing a large influx of entry-level, first-time and self-managed super fund buyers seeking high-yielding strata-titled assets.
“That’s providing a lot depth to enquiry for our campaigns and intensifying the competitive tension between buyers, which in this case resulted in an unconditional sale right on the deadline.”
Uzunovski noted that the purchaser was also very keen on the strong fundamentals of Toorak, which is seeing a number of premium developments recently completed or under construction that are translating into high population growth and a boost to trade and activity in Toorak Village.
The property is close to the St Germain luxury commercial development, the Toorak Village residences and offices project on the corner of Mathoura Road, and the soon-to-be constructed One Toorak Place development.
Toorak Village also sits within one of the Victorian Government’s new Activity Centre precincts. As a major key tram, train, jobs and services hub, Toorak Village has been earmarked by the Victorian Government for intensive development of residential and mixed-use buildings of up to 12 levels on and around the strip over the coming decades.
Uzunovski added that there is excellent transport connectivity to Toorak Village, via the 58 tram operating along Toorak Road, and Toorak Railway Station being within walking distance, providing quick access to Melbourne’s CBD and the surrounding suburbs.
The sale is yet another by Fitzroys along Toorak Road.
Recent sales by the agency have included the 416 Toorak Road property for $2.7 million, on a strong land rate of $13,500/sqm and indicative yield of 2.5%; that followed the sale of the strata-titled 525 Toorak Road for $1.070 million, on a very high building rate of around $15,000/sqm; and most recently 456-460 Toorak Road for $4.55 million. That sale price reflected a new record low net yield for Toorak Village of just 1.5%.
Local Buys Inner North Village Gem
A local has secured an inner north Melbourne village retail investment at a fiercely contested auction as well-located commercial property continues to trade well.
The 120sqm shop at 342 Queens Parade was sold under the hammer by Fitzroys agents Lewis Waddell and Chris Kombi on behalf of an estate.
Spirited competition between 3 bidders led to a sale price of $945,000 that reflected a sharp yield of 4% and high building rate of $8,000/sqm.
The property has a recently renewed 3+3-year lease to fashion brand Toorallie Australia.
“The buyer is a local who has a strong affiliation with the area - they have lived in the area for a long time and have their own business nearby, and have experienced its evolution first-hand,” Waddell said.
“They were attracted to the property given the underlying residential values in the area.”
Fitzroy North’s median house price has risen 14.2% in the past 12 months to more than $1.695 million, according to realestate.com.au.
Waddell said more investors will be drawn to well leased, well located commercial property over residential property in the near future following the federal government’s tax changes.
“Despite the budget announcements, commercial property is still trading well,” he said.
“This sale reinforces that commercial property will be less affected by the proposed negative gearing and capital gains tax changes, and will be a more attractive investment vehicle than residential property as people look to higher returns over capital growth.”
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.