With more quality options for buyers, 2022 has delivered the strongest start to the commercial real estate market since 2016. The increase in available properties is being led by some excellent retail sites as well as industrial properties, many of which have been highly sought after with limited supply in recent years.
The change in dynamic is partly due to vendors anticipating a more stable sales environment in which to bring their properties to market, especially ahead of the forthcoming state and federal elections.
Miles have 17 sale campaigns scheduled for March and April including a modern three level retail and office building at 146 Upper Heidelberg Road, Ivanhoe. The prominent site is being sold with vacant possession, enabling a business to start trading immediately in the heart of the Ivanhoe shopping precinct.
There are three industrial offerings coming up in West Heidelberg in March. 152 Dougharty Road is being sold with a short term lease to Greensborough Panels, while two factory/warehouses of 500 sqm and 1,100 sqm respectively at 58 and 64-66 Kylta Road are currently occupied by CMYK printing. The substantial printing business will be vacating in mid-late 2023. These properties are in immaculate condition throughout and represent an excellent opportunity for either an investor or an owner-occupier.
Land tax notices are currently being received by property owners, prompting many queries regarding State Revenue Assessments of Value. Please don’t hesitate to contact our office if you require any assistance in understanding current estimates of value and the process to object, if warranted.
