Archives: Melbourne Strip Retail Investments

The CBRE Melbourne Strip Retail team has quickly established itself as a market leader in the strip space since its inception in 2014.

Our specialised team of passionate individuals, our combinations of experience and knowledge along with our drive to exceed client expectations allows us to continuously achieve outstanding results.

12.06.2019

BOX HILL: THE FASTEST GROWING ACTIVITY CENTRE IN VICTORIA, OUTSIDE OF THE MELBOURNE CBD

Box Hill is located 14km* east from the Melbourne CBD and is best known for its cultural diversity, with strong representations in Asian cuisines and retail. The suburb is filled with a vast range of shops, offices, education, housing, hospitals, transport and various community services. It has become a very popular destination for business, renowned…

03.04.2019

Victorian buyer demand reigns supreme as Noosa Junction retail investment trades hands

A popular Noosa Junction retail strip has been sold to a Melbourne based investor for $6.8 million. The campaign, managed by CBRE’s Rorey James, Rem Rafter and Kevin Tong, attracted over 100 enquiries from both domestic and international investors. ‘Oasis Centre’ at 16 Sunshine Beach Road comprises 10 retail and office tenancies across two buildings…

01.04.2019

Cashed up Melbourne buyers show their hand in Church Street Brighton auction

The Westpac building in Brighton’s Church Street retail hub has sold at auction for $6,900,000. CBRE’s Melbourne Strip Retail Investments team of Rorey James, Sandro Peluso and JJ Heng negotiated the sale of the 92-94 Church Street property in conjunction with Iles Real Estate’s Matthew Iles and Richard Seeley. “The property attracted strong interest from…

15.03.2019

Reserve price smashed by 36% at hotly contested Sorrento auction

The Sportsgirl building in Sorrento has been sold under the hammer for $4,070,000 at a hotly contested auction, which smashed the vendor’s reserve price by 36%. Eight bidders battled it out for the 54-56 Ocean Beach Road property, with the strong sale price translating to a sub 3% return and a building rate of over…

13.03.2019

Brighton socialite Coral Knowles buys Sorrento’s Sportsgirl for $4.07m

“The strong bidding is a positive sign for the wider Victorian strip retail market, particularly given that there are only 2.5 years remaining on the Sportsgirl lease,” Mr James said. “It highlights the depth of capital in the market seeking well-located retail investments. The campaign generated significant interest from locals who either own a holiday…

20.02.2019

Popular Noosa Junction retail centre set to go under the hammer

An established retail strip in the bustling Noosa Junction is set to fetch in excess $5 million when it goes under the hammer next month. ‘Oasis Centre’ at 16 Sunshine Beach Road has been owned by the same family for 30 years and comprises 10 retail and office tenancies across two buildings and 15 carparking…

08.02.2019

A sporting chance to secure a flagship Sorrento investment this Labour Day long weekend

A prime retail investment, leased to national retailer Sportsgirl, along Sorrento’s famed Ocean Beach Road is poised to go to auction on the Labour Day weekend.

Located at 54-56 Ocean Beach Road, the large 574sqm property is situated in the heart of Sorrento’s retail precinct and in direct proximity to several other national retailers. The site additionally benefits from rear exposure to a large free council carpark.

This is the fourth consecutive year the CBRE team, comprising Rorey James, Nic Hage, JJ Heng and Mark Wizel, has been appointed to sell an Ocean Beach Road asset on the Labour Day weekend.

07.02.2019

Box Hill auction provides sought after Melbourne investment opportunity

A landmark corner property in Melbourne’s Box Hill is to be auctioned for the first time this century, providing what is expected to be one of 2019’s most sought after suburban investment opportunities.

CBRE’s Melbourne Strip Retail Investments team of Lewis Tong, Rorey James and Leon Ma will steer the sale campaign for the two-level building situated on the corner of Market and Main Streets.

14.01.2019

Schwartz family sets new Melbourne benchmark with Liberty Tower retail sale

Melbourne’s Schwartz family realised $21,500,000 from the sale of a portfolio of ground floor shops beneath Melbourne’s landmark Liberty Tower apartment tower, representing the largest strata portfolio transaction in the city’s history.

The eight shops were offered together after 20 years of ownership as part of CBRE’s latest Premium Property Portfolio Auction (PPPA).

CBRE’s Josh Rutman, Nathan Mufale, Kevin Tong, Dylan Kilner and Max Ruttner marketed the properties, with the sale to a Sydney-based investor reflecting a new pricing benchmark for strata portfolio investments in Melbourne’s CBD.

09.11.2018

Local family to sell Elsternwick retail investment after 50 years

A freestanding retail investment with significant mixed-use development potential in Elsternwick is to be offered to the market for the first time in over 50 years.

03.10.2018

Chinese FIFO swoops on Hampton retail

A Chinese buyer has flown in from Beijing to capture a Hampton retail asset from the grasp of several other bidders, paying $3.6 million – $200,000 over reserve – on a tight 3.2 per cent yield.

In a further sign of the strength in the sub $5 million strip retail market, the 2 Small Street property, comprising a 368 square metre shop on a 438 square site, was sold at a healthy $8219 a square metre land rate.

24.09.2018

Local Asian buyers splash $200m in 10 weeks

The strong Asian interest in Melbourne’s sub $100 million commercial property market remains despite restrictions on off-shore Chinese investors with CBRE selling 19 properties worth just over $200 million to Asia-linked investors since the first week of July.

The purchases, which included an unknown off-shore finance component, were part of an extraordinary ten week period which saw 41 properties sell for more than $570 million including 277 William Street which fetched $93.88 million, 105 York Street South Melbourne, $49 million, and Leader Newspapers’ former Blackburn HQ, $30.2 million.

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