Tim Frlan of Commercial Brunswick says owner occupiers and self-funded investors are still driving the commercial property market across Melbourne. “Many are looking for new investment properties that are well built and reasonably priced,” notes Tim. He adds that the market continues to be tightly held, and the lack of available stock is helping to hold prices firm despite high interest rates. While Tim expects the market for industrial and office properties to hold steady through 2024, the retail market may experience a rise in vacancies though this is contingent on the broader economy and interest rate movements. The team at Commercial Brunswick have managed several sales of 28 Longford Road, Epping – a modern complex of industrial warehouses situated in what many regard as one of the best commercial locations in Epping, offering outstanding proximity to key transport links. The units ranged from 143 square metres to 294 square metres each featuring several car parks in the unit titles. Tim Frlan tim.frlan@brunswick.rh.com.au Brunswick Office Industrial Retail Rents p/m² Vacancy Yields Rates p/m² Six-month market outlook For more information, contact: Office Industrial Retail Rents p/m² $200-$300 $100-$120 $400-$600 Vacancy 12% 5% 8% Yields 4.5-5% 5-6% 5-6% Rates p/m² $6,000-$7,000 $3,800-$4,300 $8,000-$9,000 Current market conditions $1,000,000 5/28 Longford Road, Epping Recent Notable Transactions SOLD $750,000 15/28 Longford Road, Epping SOLD Victoria | 39
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