South Melbourne

Flames fired up the auction of a property leased to Grill'd which sold for $3.36 million under the hammer. Fitzroys' Andrew Hewett and David Bourke said the two-level building wholly leased to Grill'd on a new 7+7-year deal sold on a sharp 3.4 per cent yield. "The sale highlights the demand for properties with national brand names and long leases," Mr Hewitt said.

Hampton

A local developer fought off stiff competition from offshore bidders to pay $6.3 million, at a record rate per unit rate, for 427 Hampton Street. The 1242s qm site had a permit for 44 units and street frontage of 23 metres. It was sold by Savills Australia's Nick Peden, Jesse Radisich and Julian Heatherich. Mr Peden said the property sold at the record rate of $143,295 per unit.

Rowville

A 6684s qm property at 1060 Stud Road has sold for $4.5 million to a private developer. The property on a prominent corner block in the Stamford Business Estate changed hands in an off-market transaction negotiated by to JLL's Jordie Cassidy and Peter Sprekos.

Richmond.

A converted warehouse owned and occupied by Cunningham Martyn Design at 18 Willis Street has sold prior to auction for $2.8 million. The 345s qm property sold on a record land rate of $8115 per square metre or $9655 per square metre for land and building. The property was purchased by a Richmond-based investor, Morley Commercial's Andrew Morley said.

Cheltenham

Six bidders pushed the price of an ordinary-looking brick factory at 11 Bricker Street about $100,000 above the reserve. The competitive auction for 534s qm factory/warehouse saw the hammer fall at $750,000. Crabtrees Real Estate's Gavin Dumas said and owner occupier purchased the site and will use it for private storage purposes.

Laverton North

Southleigh Property Investments has offloaded a large industrial freehold at 6/2 Norwest Avenue for $1.25 million. Colliers International's Stephen Ryan & Nick Saunders said 2221 sq m property was purchased by Chao Deng who will consolidate business from three smaller warehouse nearby.

Watsonia

Investors are hunting for smaller, higher yielding assets. A small 108s qm property leased to a pharmacy in a local shopping strip at 9/78-92 Nepean Street sold $635,000. A local investor snapped up the property on a yield of 5.4 per cent, said Brett Diston from Ray White Commercial Victoria. The property returns net rental income of $34,466.

Oakleigh South

A childcare operator has snapped up a facility at 1066 Centre Road for $2.8 million. The single level building with a net lettable area of 560sq m sits on a 3291s qm corner site. Knight Frank's Stuart Gill and Tom Ryan brokered the off-market deal.

LEASES

Brighton

Fitzroys' Mark Talbot has leased the landmark ex-Middle Brighton Post Office site to sportswear giant Nike in a seven-year deal for around $200,000 a year. The shop was previously occupied by the failed Laura Ashley group. Three national tenants short-listed suggesting Brighton was a focus for big brand tenants, Mr Talbot said.

Cremorne

Bauer Media is set to relocate from Docklands to the ground floor at Property Bank's Building 8, 658 Church Street in a deal negotiated by Colliers International's Damien Adkins and Michael Darvell. Bauer will join digital marketing group DDB, who occupy level 1 and 2. The deal was negotiated at a rental rate in the vicinity of $365-$380 per square metre on a five-year term.

Camberwell

Waste management services company Infoactiv Group will relocate to 1180 Toorak Road on a five-year lease. Infoactiv took 460sq m in a deal negotiated by Gorman Commercial's Richard Height, in conjunction with Knight Frank. Rents were undisclosed, but market sources suggest they were around $350 per sqm including parking.

Cremorne

Conrad Architects has leased the last available creative office space at level 2, 5 Jessie Street. The architects signed up for five years on the 270sq m space, paying a net annual rent around $350 per sqm. Knight Frank's James Treloar said the deal further cements demand from creative tenants in the precinct.

Tullamarine

Melbourne Airport has pre-leased a large 3248sq m yet-to-be-completed building to Seaway Logistics on a rent believed to be around $100 per square metre. Seaway Logistics will relocate to the new purpose-built facility at Mace Way, said Colliers International's Brent Glassford and Marco Sandrin who declined to comment on lease details.

Hawthorn

Nest Family Clinic will expand its services, opening a new medical clinic at 168 Auburn Road, after committing to a four-year lease term at a net annual rental of $60,000. Knight Frank's Tom Ryan and James Treloar brokered the deal. Meanwhile, a three office/warehouse development at 11-13 Wells Road in Oakleigh has leased before construction. CRRC Ziyang Australia will take Unit 3 on a five-year lease on net annual rental of $50,720 and Soundfix will move into Unit 2 on a three-year term with the net annual rental set at $37,000, said Stuart Gill and Dean Kimitsis.

Bentleigh

A  substantial highway showroom site at 911 Nepean Highway sold under the hammer for $1.71 million. Fitzroys' Mark Talbot and Dean Alexander said the price reflected a tight 4.6 per cent yield. The property was leased to Golf World on a monthly tenancy returning $79,000 plus outgoings and GST.

Dandenong South

Al Armstrong and Angus Clark from Cameron have pre-leased 17-23 Vision Street for Lettieri Property Group. The 3439sq m building currently under construction was leased for $275,000 per annum for five years. STR Truck Bodies will commence their tenancy in August 2016. The property is now for sale as an investment.

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