399 Melton Highway, Taylors Lakes
QIC divested a half-stake in Watergardens Shopping Centre for $480 million to the Commonwealth Superannuation Corporation, the super fund for Australian government employees and ADF members. The super-regional shopping centre is on a 47.9ha site with development upside and includes large-format complex Watergardens Super Centre, offices, and an 86-room Quest hotel. The 71,012sqm Shopping Centre is anchored by Woolworths, Aldi, Hoyts Cinemas, Big W and Kmart, and has 17 mini-majors, 162 specialties, 40 kiosks and 3 pad sites.
36 Delama Boulevard, Mambourin
QIC’s Everyday Retail Fund acquired Mambourin Marketplace from Frasers Property Australia for $53.87 million. Opened in September 2025, the western corridor shopping centre has circa 7,500sqm of retail space, including a full-line Coles supermarket, and about 25 specialty stores.
274A & 274B Neerim Road, Carnegie
The 308sqm ground floor strata-titled hospitality investment sold to an interstate investor for $2.29 million, on a yield of 6.27%.
274C Neerim Road, Carnegie
An interstate investor paid $955,000 on a 6.10% yield for the 93sqm ground floor strata-titled retail investment.
130-140 Herald Street, Moorabbin
Developer EO Developments bought the vacant 7,798sqm industrial landholding for circa $6 million. The property is improved by 1,052sqm of buildings across a showroom, office, 2 sheds and workshops.
20 Miles Street, Mulgrave
An owner-occupier bought the vacant 734sqm office and warehouse property across 2 buildings for $2.75 million. It includes 24 secure and gated car spaces.
K110/63-85 Turner Street, Port Melbourne
The vacant 298sqm office, showroom and warehouse unit with 4 allocated on-site car spaces sold for $1.17 million.
Unit 2/491-493 Warrigal Road, Moorabbin
The 574sqm showroom and warehouse unit with on-site parking was leased at $104,000pa, or $181/sqm.
252-256 Clayton Road, Clayton
A private purchaser paid nearly $20 million for the purpose-built day hospital and medical centre that adjoins the Monash Medical Centre. It comprises more than 2,100sqm of floor space across 2 levels on 2,854sqm of land, and includes 3 operating theatres, recovery bays, consulting suites, administrative accommodation, laboratory space and on-site parking.
Major Malvern Landholding Moments From Glenferrie Road
One of the first substantial sites within the new Housing Choice & Transport Zone in blue-chip Malvern has hit the market, offering buyers exceptional development potential close to busy Glenferrie Road and the Cabrini Hospital precinct.
Fitzroys’ Chris Kombi and Lewis Waddell are marketing 2 & 4 Drysdale Street, Malvern for sale via Expressions of Interest closing Wednesday, 14 October at 3pm, on behalf of an estate.
Interest is expected from $4.8 million.
On a significant combined landholding of 1,158sqm across two titles, with prominent frontage of more than 27m, the property is offered with immediate holding income and vacant possession flexibility.
Number 2 is vacant and is improved by a substantial character residence with five bedrooms and multiple living areas, while 4 has an established medical facility occupied by Malvern Rheumatology with a short-term lease with the opportunity to extend to the longer-term.
The property presents one of the first tests of the market for the new Housing Choice & Transport Zone (HCTZ1). The planning zone has been introduced by the Victorian Government under the Stonnington Planning Scheme to support higher-density, transport oriented development in Malvern and Malvern East, as part of the Activity Centres initiative that encourages high- and medium- density housing around train and tram connections and services hubs.
Lots or contiguous lots within the Zone spanning 1,000sqm or more and with a frontage of more than 20m are permitted for developments of up to 21.5m, or six storeys.
“Above all, this is an increasingly rare opportunity to secure a substantial landholding in sought-after Malvern with immediate holding income, vacant possession flexibility, and significant future development potential (STCA),” Waddell said.
“The site’s zoning, size, wide frontage and excellent location make this an ideal development prospect.”
Strategically positioned moments from the high-performing Glenferrie Road, Malvern shopping and dining strip - anchored by Coles and Dan Murphy's - and in the Cabrini Hospital precinct, the property is surrounded by Melbourne’s finest educational, lifestyle, retail, medical and transport amenity.
“More Melburnians are looking to live in well-connected locations close to excellent lifestyle, shopping, hospitality and services options,” Kombi said.
“Glenferrie Road, Malvern is one of Melbourne’s most consistent high-performing shopping strips, offering a high-quality mix of local and national service, specialty and food and beverage operators trading through the day and into the night.
“Malvern Train Station and multiple tram services are close by, providing easy connections to the CBD and surrounding suburbs.”
Kombi noted the property is also surrounded by Melbourne's leading schools, parklands and premium residential amenity.
“There’s clear demand for residential product in blue-chip locations such as this,” he said.
Disclosure: Fitzroys Weekly 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.