Victoria Commercial Property News

A former Geelong bank building dubbed a ripper development opportunity it set to get a new lease on life after being traded.

A Bendigo building tenanted by Australia Post, sold for $6.375 million this week in a competitive auction that saw a Melbourne investor win-out against a local bidder. Recent commercial sales in the City of Bendigo have reflected the interest of interstate investors in Victoria’s fourth largest city.

Hospitality players are circling the only venue atop Arthurs Seat — “with the most incredible views of anywhere along the entire Mornington Peninsula”.

It’s rare to see a building hit the market for the first time in 119 years, and particularly one that has been in the same family for four generations. But that’s the case with the history-laden Ballarat property.

Sydney “bar tsar” Justin Hemmes has broken his silence on why he has inexplicably ventured south, buying his first property outside of NSW with the purchase of Melbourne’s historic Tomasetti House in a $40m-plus deal. Mr Hemmes’s Merivale Group purchased the landmark Flinders Lane property from the Millett family, in what he said was the start of a national expansion for the company.

Potential investors could play their part in growing the number of beds in Geelong’s accommodation sector with a landmark Corio hotel.

Two bidders pushed hard to secure the high-profile corner property at High Street, Belmont.

A rare opportunity to own one of the Mornington Peninsula’s only glamping sites is ripe for the picking.

Two commercial tenancies in a landmark building at the entrance to Geelong’s CBD are expected to generate strong yields. They go to auction on Friday.