A benchmark auction result has been achieved on Melbourne’s premier shopping strip, Church Street, Brighton.
Fitzroys’ Mark Talbot, Tom Fisher and Ben Liu sold 36 Church Street under the hammer for $4.010 million, with the sale price reflecting a very sharp 3.9% yield.
Fierce competition from three bidders ultimately saw an investor sourced from the Fitzroys Asian Services database win out.
On a 184sqm landholding, the property comprises a high-profile 2-level building of 201sqm with a modern ground-floor retail space leased to international eyewear and optometry retailer Bailey Nelson, and separate, recently refurbished first-floor accommodation and office areas.
Bailey Nelson - which boasts 110 stores internationally - occupies the property on a secure 5+5-year head office lease from November 2024.
“Church Street, Brighton is traditionally Melbourne’s - and perhaps Australia’s - premier shopping strip, and opportunities to secure high-profile assets in the absolute prime of the strip are incredibly rare,” Talbot said.
“We received more than 60 enquiries from qualified local, national and offshore investors who were all attracted to the blue-chip status of Church Street, Brighton, the rarity of the offering, and the strong tenancy profile in a head office lease to a highly successful global operator.
“This made for one of Melbourne’s best genuine set-and-forget offerings for the year.
“We see this result as a benchmark for the market. There is evidently strength in the Melbourne strip retail market when it comes to well-located, well-leased assets, which present great investment prospects compared to the volatility of the residential and share markets.
“Confidence amongst experienced investors is positive and they are actively pursuing quality opportunities in Melbourne.”
Liu said, “The heavy interest we sourced through the Fitzroys Asian Services Desk demonstrates that the reputation of Church Street, Brighton extends far and wide.
“This cohort of the market is consistently providing added depth and competition to our campaigns.”
Fisher said the purchaser was also keen on the property’s prime location close to one of Church Street’s key anchors in Country Road.
“Church Street services one of Melbourne’s most affluent catchments and boasts a roll call of high-quality national retailers, including Country Road, Scanlan Theodore, Mecca, Kookai, ELK, Seed and Oroton, as well as all major banks, Coles and Woolworths supermarkets, and popular eateries,” he said.
Church Street, Brighton is consistently a top performer amongst Melbourne’s shopping strips, according to Fitzroys’ Walk the Strip report series, most recently recording a vacancy rate of just 1.4%.
“Importantly, this location is very accessible, with the adjacent Dendy Plaza shopping centre including excellent car parking in addition to public parking, and Middle Brighton train station and buses are close by,” Fisher said.
Church Street, Brighton is close to first-class education providers including Brighton Grammar, Firbank, and St Leonard’s, which attract huge numbers of families to the area, helping to underpin ongoing strong housing demand. Brighton is also home to popular lifestyle options, including Brighton Beach, Dendy Park, Wilson Reserve, Billilla Homestead and more.
Brighton’s median house price was a very high $3.18 million as of July 2026, according to realestate.com.au, reflecting the location’s high spending power.