Stunning historic estate among Victoria’s top five most-viewed properties
Investors are casting their nets far and wide in the search for the best Victorian commercial property opportunities, with retail, historic farms, medical centres and offices all featuring among the most-viewed properties in the state.
Here are the top five commercial properties in Victoria over the past week.
BRUNSWICK WEST KNOCKDOWN
87 Melville Road, Brunswick West
The property on Melville Rd is currently home to office and retail spaces.
It’s been many, many years since this corner retail site in Brunswick West last sold, and the time could be right for a developer to make it their own.
With much of the property now rundown, the corner retail premises at 87 Melville Rd is touted as a future development opportunity, courtesy of its general residential zoning and 470sqm block of land.
The property has two street frontages and the potential for vacant possession, and is priced between $1.3-$1.4 million.
PRESTIGIOUS COUNTRY ESTATE
Here’s a rare chance to buy a slice of 1800s Victorian history.
Larundel, just 90 minutes from Melbourne, has stories to tell, headlined by a landmark bluestone mansion built by the Austin family more than 150 years ago.
The prestigious property at Cargerie includes 942ha of farmland surrounding the 840sqm homestead and 2ha of private and formal landscaped gardens, tennis court, lawns and croquet pitch.
A nod to its elite status, there’s even a helipad with a hanger, refuelling facility and airstrip.
The site, available on a walk-in, walk-out basis, also includes guest accommodation at adjacent self-contained residence The Stables, while another two residences are also located elsewhere on the farm.
Larundel is for sale via international expressions of interest.
TENANTS READY FOR MELBOURNE SQUARE
Melbourne Square Commercial, 93 – 119 Kavanagh Street, Southbank
The upcoming Melbourne Square precinct.
Tenants are already eyeing the opportunity to get into the new Melbourne Square Commercial tower, despite its completion expected to be three years away.
The Southbank property’s commercial component is due for completion in 2023, but the opportunity to pre-lease the site’s office spaces is already generating buzz, with its Realcommercial listing the most viewed property in Victoria over the past week.
When finished, the precinct will offer 37,440sqm of office space across 29 levels, with typical floor plates of between 1605-1666sqm and a host of end-of-trip and wellness facilities.
Future tenants will also find a five-star Hilton Hotel, full-line Woolworths Supermarket, dining and childcare within the precinct.
SHOPPING CENTRE CONTINUES RUN ON RETAIL LEASES
Riverdale Town Centre, corner Leakes and Davis roads, Tarneit
An artist’s impression of the future Riverdale Town Centre.
Of all the commercial retail assets currently on the market, new-build shopping centre leases are unquestionably holding up best for tenant interest.
Multiple yet-to-be-completed retail hubs have featured among our most-viewed properties in recent weeks, and the Riverdale Town Centre at Tarneit, west of Melbourne, is the latest strong performer.
Anchored by a Coles, Liquorland, pharmacy and medical centre, the suburban shopping centre is offering spaces of various sizes, with specific requirements for fresh and baked goods, food and beverage and office users.
Opening later this year, the property sits within one of Melbourne’s most prominent future growth zones.
PRIME MEDICAL WITH BIG LANDHOLDING
The Boronia property is home to multiple medical tenants.
Medical assets are front and centre amid the current health crisis, and this property in Boronia has plenty going for it.
The medical centre and offices in Melbourne’s eastern suburbs are part-leased to ASX-listed Sonic Healthcare, and potential buyers are also being drawn to the 2604sqm landholding, which has the potential for future development.
With mixed-use zoning, 37 parking bays and only 500m from Boronia’s activity centre, local zoning allows for 14 metres of building height, marking it as an investment or development opportunity for the future.
