With a reported 10% price lift and surge in demand for Peninsula homes over the past year, it’s no surprise demand for commercial property is also rising. Development of the Peninsula Link and technological advances allowing city goers to work from home, have supported the areas growth spurt. The seaside location has shifted away from a holiday destination and become a sought-after permanent location for young professionals, families and sea-change retirees alike.
With the population of the Mornington Peninsula expected to increase by nearly 30,000 by 2036, demand for property is rising. To accommodate the growth, local councils have announced their support for expanding industrial and commercial areas, welcoming compatible businesses to the Shire to increase employment opportunities.
The main streets of smaller towns such as Blairgowrie, which a few years back featured only a general store or supermarket, are now bustling with new cafes and boutiques to compete with the neighbouring suburb of Sorrento. Our sales and leasing team in Melbourne’s southern region have also seen industrial land rates increase by over 21 per cent throughout Melbourne’s southeast band, with this value only expected to increase further this year.
One of CVA’s Rosebud properties – an iconic site fronted on Point Nepean Road – has received more than 80 expressions of interest since entering the market, an indication of the significant increase in enquiries coming through for Peninsula-based land sites.
The data and the demand are in; Peninsula is booming and features strong commercial property potential for interested investors.
Call our experienced team today to chat through the current listings we have available in Melbourne’s South East: 03 9654 2311