As 2024 draws to a close, the commercial property market has concluded with a strong finish, signalling positive momentum as we head into 2025. Several standout transactions and leasing deals across the northern suburbs demonstrate healthy demand and renewed investor confidence in the sector.
Recent sales include:
- 187 Barry Road, Campbellfield: Sold via an Expression of Interest (EOI) campaign for $1.4M.
- 344 Darebin Road, Alphington: Achieved $1.462M in a boardroom auction following an EOI process, with the property offered as vacant possession.
- 35 and 47 Korong Road, West Heidelberg: Both properties sold for $1.28M and $1.41M, respectively.
These results reflect the interest from both investors and owner-occupiers seeking opportunities in key commercial precincts.
On the leasing side:
- Retail spaces along Burgundy Street in Heidelberg have been secured, underscoring the current demand for prime retail locations.
- In Rosanna, 380 sqm of quality office space has been leased, highlighting the appeal of well-positioned commercial offices in suburban hubs.
Looking ahead to the first quarter of 2025 we have 12 commercial campaigns scheduled for February and March. Key opportunities include:
- A significant supermarket proposition expected to attract widespread interest.
- Multiple industrial opportunities in Fairfield and Preston coming to market.
For what’s often perceived as a tough market, the results in our core areas over the last quarter have been incredibly encouraging.
For more information on upcoming campaigns or to discuss your commercial property needs, get in touch with our team today.
