The commercial market has seen some inconsistencies recently, with many transactions occurring off-market or post-auction. Despite this, deals are still being transacted, though not within the usual 4-week period. Recent sales have shown promising returns:
- 22 Livingston St, Ivanhoe: Sold for between $4.5 and $5 million, at a 5.5% yield.
- Shop 5/145 Upper Heidelberg Rd, Ivanhoe: Sold for $500k, achieving a 4.8% return.
- Suite 6/50 Upper Heidelberg Rd, Ivanhoe: Sold for $1.25 million, reflecting a 6.25% yield.
- 28 Kurnai Avenue, Reservoir: Sold at auction for $1.1 million, with a land and building rate of $2,400/sq m.
- 120 Lower Plenty Rd, Rosanna: Off-market sale at $755,000.
Upcoming Campaigns
A variety of retail and industrial properties are coming up for sale in July and August:
- 28 Peel St, Eltham: Industrial site ready for development or use as a storage yard (900 sq m), for sale via EOI in late July.
- 41 Lower Heidelberg Rd, Ivanhoe: Fairy Hills Ice Cream Shop and rear office for sale early August, priced between $1.1-$1.2 million.
- 204 Upper Heidelberg Rd, Ivanhoe: Dental practice site, coming up for sale in August at approximately $1.8 million.
- 147-149 Sackville St, Collingwood: Expected to list soon, anticipated to fetch between $3-$3.3 million.
The market remains active, though in unconventional ways, with off-market sales and varied offerings. If you're considering selling, it may be beneficial to ensure a pre 2025 settlement, avoiding next year’s land tax expenses. Our highly experienced team is here to guide you through these evolving conditions for the best outcomes. If you would like to request an up-to-date property appraisal – please don’t hesitate to contact one of our team.
