Two unassuming supermarket properties in Melbourne’s suburbs, one vacant and one actively trading, are quickly gaining attention from investors eager to tap into the city’s outer growth corridors.
The first site, located at 39 Borrack Square, Altona North, was formerly occupied by Woolworths and is now available with vacant possession. Spanning 1,871 square metres, the property includes essential features such as cool rooms, a rear loading dock, office space, staff amenities and three street frontages. Positioned at the centre of the Borrack Square retail precinct, it benefits from surrounding high-traffic businesses including a pharmacy, postal services, and hospitality venues, as well as access to a major public car park across the street.
This is the first time the Altona North site has been offered to the public in 25 years. The area is undergoing rapid transformation, and the soon-to-be-completed West Gate Tunnel is expected to significantly improve transport links and commuter access throughout Melbourne’s western suburbs. The location is already supported by major employment hubs, including the Myer distribution centre, Toyota’s research and development facility, and the Mobil refinery.
The property offers flexibility, appealing to a range of buyers from supermarket operators and retail giants to developers and investors looking to reposition the site or hold for future gains.
Meanwhile, in Melbourne’s northeast, a long-held property in Rosanna is also hitting the market after four decades under the same family ownership. Located at 90–94 Lower Plenty Road, the 737-square-metre site is home to a successful IGA + Liquor store, which includes a Tattslotto outlet within the checkout area.
The property is zoned Commercial 1 and features a 540-square-metre building, rear access, seven car parks and a wide 16.4-metre street frontage. It is situated within the busy Rosanna Village shopping precinct, close to essential services and popular businesses such as cafes, fitness centres and takeaway shops. It is also just a short walk from the recently upgraded Rosanna train station.
With a current lease in place (5+5 years from November 2022), the site delivers a reliable rental income stream while offering the option to redevelop in the future. The combination of a secure tenant and potential for long-term capital growth makes it particularly appealing to land bankers and investors focused on high-growth suburban areas.
Recent changes to Rosanna’s residential landscape, marked by an increase in high-density apartment developments, have attracted a more diverse demographic, including young professionals and families. This shift has contributed to a rise in local property values and has further enhanced the appeal of the area for commercial redevelopment.
Both sites reflect a growing trend of suburban retail properties becoming key investment targets. As Melbourne expands outward and transport infrastructure improves, suburban hubs like Altona North and Rosanna are poised for further development and revitalisation.
With their strategic locations, strong surrounding amenities, and potential for repositioning or redevelopment, these two supermarket properties represent unique opportunities for investors looking to secure a foothold in Melbourne’s evolving urban landscape.
For the latest retailer news and information, check out the IndiHub website or to speak to us about how we can help your business contact us.
