As we move into the second half of 2025, confidence is beginning to re-emerge across Melbourne’s north-east industrial and commercial property sectors. While the market has been cautious in recent times, we're now seeing encouraging signs of activity as buyers and investors respond to interest rate cuts and expectations of further cuts within the next 3–6 months.
For many, the pause in rate rises has been a turning point - prompting those who have been observing the Commercial Market to move forward with their plans. While sentiment remains somewhat restrained, inquiry levels have been rising steadily, particularly for well-positioned industrial assets.
A Solid Industrial Market with Opportunities to Buy Well
The industrial sector continues to outperform other segments of the market, with strong fundamentals and ongoing demand. Properties are attracting healthy levels of competition - our recent boardroom auction at 15 Dennis Street, Campbellfield is a standout example, drawing five competitive bidders and ultimately selling for $4.45 million.
We’ve seen several other significant transactions this quarter, including:
- 7 Scholar Drive, Bundoora – an office /warehouse sold at auction for $1,370,000
- 95A Merola Way, Campbellfield – Office / Warehouse with Vacant Possession sold for $1,720,000
- 61 Mologa Road West Heidelberg - Sold at auction for $1,340,000
The current climate presents excellent opportunities for strategic buyers. Compared to the peak conditions of 2022, many asset values have eased by approximately 10%, offering strong value in tightly held locations.
Retail Leasing Shows Modest Improvement
While retail leasing has been slower to recover, we’re beginning to see more movement in this space too. Confidence from established brands and savvy operators is returning, particularly in prime locations with good pedestrian traffic.
Growth at Miles Commercial
Reflecting the strength of our local presence and growing market activity, Miles Commercial has expanded its team to 20 people, recently welcoming several new members to meet demand. This growth ensures we continue to provide exceptional service to tenants, buyers, and owners - many of whom are reassessing their portfolios or exploring opportunities to invest.
As always, our team is on hand to offer trusted advice backed by deep local knowledge. Whether you're looking to buy, lease, or sell commercial property in the north-east, Miles Commercial is ready to help you make your next move with confidence.
