11 South Concourse, Beaumaris
A local investor bought the 90sqm Beaumaris Concourse shop on a 185sqm site for $1.1 million, on a 4.4% yield. The property has a brand-new 5+5-year lease to Sien Clothing.
500-540 Torquay Road, Armstrong Creek
A local private investor bought the newly-built 7-Eleven and Red Rooster site for $9.41 million, on a 5.49% yield. The 3,417sqm site at the corner of the Surf Coast Highway has an average lease of 10.1 years and returns $516,838pa in rent.
1 Old Princes Highway, Beaconsfield
Oliver Hume syndicate Blackburn Tavern (Holdings) paid $8.5 million to Blueswan Australia for The Central Hotel, which comprises an 820sqm building on 5,797sqm of land.
231-233 Ferntree Gully Road, Mount Waverley
A Brisbane-based investor paid $6.47 million on a circa 5% yield for the Red Rooster property, which has a 12-year lease to 2037 with a 5-year option. The 2,473sqm corner site is zoned General Residential and has 154m of triple street frontage.
518 Malvern Road, Prahran
The 133sqm 2-level property sold for $1.6 million, on a circa 5% passing yield. The ground floor retail shop is occupied by Fedele Jewelworks on a newly renewed 3-year lease, with an apartment above, for a combined return of $84,420pa.
Shop 3/771-789 Barwon Heads Road, Armstrong Creek
The 153sqm retail premises sold for $980,000, on a 5.71% yield. Pizza Fellas has a 10-year lease to 2035 with 2 x 5 options, currently bringing $55,950pa plus GST.
Level 4, 377 Little Lonsdale StreetMelbourne
A Sydney buyer bought the vacant 306sqm whole-floor office in the Melbourne CBD’s legal district for $1.65 million, marking the first time the property had sold since the early 1990s.
Unit 2, 41-43 West Fyans Street, Newtown
The vacant 220sqm ground floor commercial property sold to an owner-occupier for $802,500.
662-664 Queensberry Street, North Melbourne
Offered with vacant possession, the double-storey brick office, showroom and warehouse building on a 490sqm Mixed Use-zoned corner site sold for $2.03 million.
9/1-7 Canterbury Road, Braeside
The 591sqm office and warehouse unit, with an additional 96sqm mezzanine space, sold for $1.27 million.
Warehouse 5/43 Orbis Drive, Ravenhall
The 531sqm office and warehouse unit in the Orbis Industrial Estate was leased at $63,720pa, or $120/sqm.
Warehouse 3/43 Orbis Drive, Ravenhall
The 575sqm office and warehouse unit was leased at $69,000pa, also at $120/sqm.
11 Yarra Street, Heidelberg
Marwood Property Group paid around $11 million for the 7,918sqm Courtney Patterson car yard site, which is zoned Commercial 1 and faces parkland and billabongs along the Yarra River. The new owner is planning a commercial project for the site.
8-10 Myers Street, Geelong
A Melbourne-based investor paid $2.005 million for the Geelong CBD medical asset, on a 5.8% yield and building rate of $8,911sqm. Pregnancy and obstetrics provider Siles Health has a new 5+5+5-year lease over the 225sqm building, which is on a 694sqm site.
Investor Swoops on Geelong CBD Strata Healthcare Asset
An interstate investor seeking a high-yielding asset in a regional Victoria location has backed the Geelong boom and bought a strata health and wellness asset in another strong CBD sale result.
Fitzroys Chris Kombi and Lewis Waddell, in conjunction with Andrew Prowse and Tim Darcy of Darcy Jarman, sold the 396sqm strata-titled asset at 46 Ryrie Street for $2.78 million.
Located in the heart of the Geelong CBD, close to the flourishing medical, arts and hospitality precincts, the property has a 31m corner frontage and 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.
It was offered with a 10-year lease plus options to wellness and fitness tenant Sweatshop.
“The purchaser was attracted to the stamp duty concessions along with the higher yield that typically comes with regional Victoria assets compared to metropolitan locations,” Waddell said.
“They also liked the fact that land tax is low for strata properties compared to freehold assets of this size.”
“There are a lot of investors looking at regional locations with high growth prospects for higher-yielding opportunities with lower land tax obligations and lower risk,” Waddell said.
Kombi said buyers were also attracted to the booming CBD location with huge growth prospects, and the tenancy profile of a successful multi-location fitness operator that is likely to trade well as the residential population grows.
“We continue to see investors in large numbers seek security in well-located assets with long leases to health and wellness operators,” he said.
Fitzroys and Darcy Jarman recently sold 36 Ryrie Street – another health and wellness strata asset part of the same building – for $1.59 million, on a 5.6% net yield; as well as the Siles Health property also in the Geelong CBD to a Melbourne-based investor for $2.005 million, on a 5.8% yield.
“Local, Melbourne and interstate groups are all seeking to be a part of the Geelong growth story and are prominent in our campaigns,” Kombi added.
One of Australia’s fastest-growing regions, Greater Geelong’s population is forecast to increase by 28.7% between 2024 and 2034. The City of Greater Geelong is devising an economic and development plan to 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.
The Complete Camberwell Package
A contemporary Camberwell standalone office building set in a popular inner eastern neighbourhood village is going to auction next month.
Fitzroys Chris James and David Bourke are marketing 190 Through Road, Camberwell on behalf of a private owner, with the on-site auction set for Friday, 7 August at 12pm.
Expectations are of $2.2 million-plus.
Offered with vacant possession, the prominent two-level building of 518sqm was constructed in 2015. It features a combination of open-plan and partitioned areas, reception, boardroom, kitchen and balcony, amenities on both floors and a solar energy system.
There is lower ground level parking for six or more vehicles with lift access to the above floors. The building is on a 368sqm Commercial 1-zoned site with rear access.
“This is a really high-quality contemporary building in a great neighbourhood village location,” James said.
“We’re anticipating principal interest to come from owner-occupiers looking for a quality premises in a popular inner east lifestyle location to call home, and investors keen on securing an asset with great leasing prospects.
“Buyers looking to value-add or reposition the asset are also expected to make enquiries.”
He added that the property is well suited to both commercial and medical users.
Located within “Through Village”, the property is close to established local traders and commercial businesses including IGA, local favourite café and eatery Miss Frankie next door, and Terry White Pharmacy.
Bourke said, “This property is in a highly desirable residential and commercial precinct surrounded by Surrey Hills, Box Hill and Mont Albert, with excellent transport linkages including Citylink and tram services operating along Riversdale Road.”
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.