Commerical Article 146 148 Burgundy Street Blog

Industrial owner-occupier sector bouyant

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Significant land tax increases are causing many property owners to re-consider their position regarding property ownership, with some experiencing increases of 40% - 60% on last year’s assessments, this is due to the introduction of annual revaluations (increasing from every second year).

Objections can be lodged within 60 days of land owners receiving their assessment. Information is available at the State Revenue Office (Victoria) website www.sro.vic.gov.au.

Please contact our Valuer, Paul Evans to discuss your particular queries confidentially. 

The commercial market is experiencing fluctuating enquiry levels dependant upon the various sectors, and the political and taxation ramifications pending in the ensuing post-election months.

Industrial owner-occupier opportunities remain very buoyant with 1/69 Crissane Road, Heidelberg West - $712,500 ($2,639/sqm) and 174 Grange Road, Alphington - $1,160,000 ($3,867/sqm), both incorporating multiple bidders at auction in recent weeks.

A double shopfront with development potential at 146-148 Burgundy Street, Heidelberg is expected to generate strong interest when offered for sale in late May. The Commercial 1 zoned site of 435 sqm (approx) is expected to achieve a price in the vicinity of $2,850,000.



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