Retail Sale, 27 Market Street, Box Hill
The slender 367sqm three-storey commercial building, on a 144sqm site, sold for $8.8 million to a developer making their first Australian purchase. Zoned Commercial 1, it is currently leased to four tenants and returns $277,347pa.

Retail Sale, 410 Elizabeth Street, Melbourne
Comprising two eateries, the 255sqm property sold for $6.466 million, at a building rate of $25,367/sqm. It is leased to Nene Chicken and Torasen Ramen on respective 10-year deals from 2016, and returns a combined $293,722/sqm net.

Retail Sale, 474-478 Nepean Highway, Frankston
An investor acquired the two-level 1,140sqm building, leased to five tenants including MLC Bank and O’Brien Real Estate across six suites, paying $3.45 million at a 6.4% yield. The 653sqm site is zoned Comprehensive Development and has 11 undercover car parks.

Retail Sale, 18-20 Station Street, Seaford
The premises leased to The Spanish Bar, together with the adjoining Aree’s Thai Massage, sold for $1.5 million. The 448sqm corner site has a combined building area of 215sqm and traded at a 3.87% yield.

Retail Sale, 26-28 Mitchell Street, Doncaster East
An investor purchased the two shops in one line for $2,352,500. They return a combined $60,160pa plus outgoings and GST and have a building area of 129sqm.

Retail Sale, 113 Gardenvale Road, Gardenvale
The vacant 240sqm two-level building with ground-floor retail and first-floor office/residence sold for $1.63 million. It is on a Commercial 1-zoned site of 286sqm.

Retail Sale, 97 Greville Street, Prahran
Investors traded the ground floor strata property, home to Izakaya Mizu, for $1.205 million. The 87sqm space includes a mezzanine area of 22sqm and is leased to the Japanese restaurant on a long-term deal bringing more than $60,000pa plus outgoings and GST.

Retail Sale, 692 Old Calder Highway, Keilor
A private investor paid $830,000 for the vacant 170sqm building on a site area of 218sqm.

Retail Lease, 208 Swanston Street, Melbourne
Currency exchange shop Chang Jiang Financials leased the 58sqm ground floor space on a five-year deal at $270,000pa net with options, from a Melbourne-based private investor.

Retail Lease, 15-17 Queen Street, Melbourne
Winya Indigenous Furniture leased 224sqm on the lower ground floor of the heritage Victorian-era Lombard Building, while property developer Sunland Group took 147sqm on the ground floor. Both will pay in the order of $480 to $520/sqm.

Retail Lease, 99 Greville Street, Prahran
The 200sqm warehouse shell has been leased to a social media marketer who will operate a café at the front of the property at $75,000pa net.

Land/Development Sale, 30-32 Holmes Road, Moonee Ponds
Within an Activity Centre Zone, the 1,076sqm site sold for $3.4 million with permit approval for a project comprising 33 apartments and two shops. It currently comprises an 867sqm building.

Land/Development Sale, 176 High Street, Preston
The 1,460 sqm site on the corner of Bell Street sold to a developer for $4.25 million, with approval for an eight-level mixed-use building with 73 apartments and retail space.

Office Lease, Suite 1.02, 49 Elizabeth Street, Richmond
Fernwood has leased the 642sqm office at circa $550/sqm for its new head office. It includes six offices and workstations, reception and meeting rooms, and 20 basement car parks.

Industrial Sale, 2/68 East Derrimut Crescent, Derrimut
The new high-clearance warehouse and office property of 1,499 sqm sold off-the-plan for $2.05 million.

Industrial Sale, 5 Kingston Town Close, Oakleigh
The 1,116sqm warehouse sold for $2.6 million.

Industrial Lease, 98 South Park Drive, Dandenong South
After selling its Home Timber & Hardware division to Metcash, Woolworths has assigned the lease of the 27,900sqm distribution facility to two new tenants, JTS and Borders Express, who will each pay around $75/sqm net.