1402-1406 Toorak Road, Camberwell
A future owner-occupier paid $1.7 million for the 319sqm open-plan showroom building on a 480sqm Commercial 1-zoned site.
99 Glenferrie Road, Malvern
An investor paid $1.52 million for the 221sqm 2-level building on a 211sqm site. It is occupied by pizza and pasta venue Cambio Vita on a new 5-year lease that returns $82,000pa plus outgoings and GST.
26 Murray Street, Yarraville
Most recently used as a bookshop, the vacant 106sqm 3-room building on 143sqm of land just a few metres from Yarraville Village and the Sun Theatre sold for $1 million.
13 Meadow Way, Banksmeadow
An investor bought the 2,662sqm landholding in a $9.25 million plus GST sale and leaseback deal with Pittwater Industrial, reflecting a 5.4% net passing yield. The property has 1,949sqm of improvements, including a 546sqm office and workshop facility and 1,403sqm of covered hardstand and open warehousing. Pittwater Industrial has entered into a 10-year lease with 2 further 5-year options, returning $500,000pa net.
69 Osborne Avenue, Springvale
An investor paid $2.2 million for the 932sqm Industrial 1-zoned site, which has 2 buildings totalling 520sqm that include a fully fitted commercial kitchen. The property has 4 years plus options remaining on its lease, returning $120,000pa.
1A Beckett Avenue, Keilor East
The 613sqm corner site with a 177sqm factory sold for $938,000.
40 Victoria Street, Hastings
A local investor bought the 299sqm purpose-built physiotherapist facility on 758sqm of land for $1.82 million, on a 5.93% yield. It has 6 consulting rooms, reception and waiting area, gym area, and Pilates and recovery room, with a 5-year lease from December 2023 to Beleura Health returning $107,869pa plus outgoings and GST.
Owner-occupiers continue to fuel competitive tension in campaigns for assets in industrial pockets of Melbourne, with a builder and a mortgage broker pouncing on respective Richmond properties.
Fitzroys’ Mark Talbot and Shane Mills sold the vacant 314sqm freehold at 10-14 Yarra Street under the hammer for $1.888 million - some $188,000 above reserve - on behalf of a local land banker who had held the property for over 16 years.
“The purchaser is considering subdivision of the property, with a view to part occupation and leasing the balance,” Talbot said.
“They’ve been seeking opportunities where they could add value and occupy. The large 19-metre frontage of the site was important to their purchase.”
The sale continues a run of warehouse sales for Fitzroys.
In a deal that has just settled, Talbot and Mills sold the close-by 11 Prince Patrick Street, Richmond for $1.4 million. The 170sqm warehouse is on a 228sqm site.
All of the multiple bidders that competed at the auction for 10-14 Yarra Street and for 11 Prince Patrick Street were owner-occupiers.
“Land tax challenges in city fringe locations mean investors are looking elsewhere, and occupiers have more than made up for that, competing fiercely for well-located opportunities, particularly those with a value-add aspect,” Talbot said.
“Both buyers are relocating from within a one kilometre radius, and the properties are close to the fast-developing Church Street precinct and ultimately in a thriving, well-connected inner-city location.”
Mills said the Richmond and Cremorne area is one of Melbourne’s hottest commercial precincts.
“The commercial and lifestyle market of Richmond and Cremorne have attracted many Melburnians looking to live, work and play in the inner city.
“A multitude of restaurants, cafés and bars along Swan Street and Church Street create what is broadly recognised as Melbourne’s best hospitality precincts, helping attract a large number of major commercial occupiers to the Richmond and Cremorne area, including Carsales, Seek, Disney, Tesla, MYOB, Adidas, Puma, Australia Post, Red Energy, Reece, 7-Eleven, Uber, Mattel, REA Group and 2XU.”
He added that Richmond is exceptionally well-connected to major arterials including the M1, Citylink and Hoddle Street, as well as busy Richmond train station, while a number of tram routes run along Swan Street, Church Street and Bridge Road, and buses along Hoddle Street.
Mills, together with Fitzroys’ David Bourke, also sold 190-192 Church Street, Richmond for $2.15 million in a deal that has also recently settled.
Offering 65m of total frontage, the 490sqm triple-fronted property is improved by a 325sqm brick showroom/warehouse and is just metres from the $220 million Richmond Quarter development, which features a full-line Coles, Vintage Cellars, office space and 360 apartments over 11 levels.
Leased to 2 tenants, it was offered with scope to occupy by January 2027.
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.