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Commercial Market Signalling Positivity


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The Commercial Market has been experiencing a solid level of enquiry since inspections have resumed. 

The Industrial sector performance remaining relatively unscathed. Leasing enquiry for warehouses has remained steady and we are experiencing tightening supply in recent weeks.

34 Lillimuir Avenue, West Heidelberg SOLD at auction in late November on a strong 3.7% yield ($760,000.00), highlighting the demand from investors to utilise Commercial property as a viable investment proposition with interest rates at record low levels.

Retail leasing was surprisingly buoyant over lockdown. Multiple leases were facilitated in Ivanhoe, including an off-market negotiation of the recently vacated ANZ building on Upper Heidelberg Road. 

Interest from medical affiliated users are prevalent. The general outlook for retail activity is certainly much more positive than it was several months ago.

131-143 Smith Street in Fitzroy was also highly sought after via an Expressions of Interest campaign. Seven offers and excess of $10,000,000 was achieved for the 1200 square metre ex Copacobana site with long term development potential.

Whether you are looking to sell or lease your commercial property, the Miles team can provide an obligation-free, accurate appraisal and offer the right advice to help you make an informed decision. 

Why choose Miles:

  • A company committed to providing superior service, unequalled local knowledge and experience gained since 1924. 
  • Market leading company with great energy and highly experienced agents and auctioneers. 
  • Consistently achieving excellent results. 
  • Numerous testimonials and performance references. 

Click here to get in touch with the Miles commercial team today.


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