Colliers’ integrated Victoria platform delivers premium pre-campaign result with unconditional transaction
Colliers Melbourne Metro Sales, in conjunction with Colliers Ballarat, is pleased to announce the successful off-market sale of the Commonwealth Bank property at 38-40 Bridge Mall, Ballarat Central.
The asset was acquired by a Melbourne-based private investor at a passing yield of 6.28% following a competitive pre-campaign process. The transaction was negotiated by David Wright of Colliers Ballarat and Lucas Soccio of Colliers Melbourne Metro Sales.
The property comprises a substantial 1,060sqm Commonwealth Bank branch underpinned by a brand new seven-year lease. Positioned on a 702sqm landholding with valuable dual street frontage, the asset occupies a significant footprint within Ballarat’s tightly held commercial precinct.
Through targeted pre-campaign engagement, a qualified buyer was identified early in the process. Strong investor demand generated multiple offers before any formal marketing campaign commenced, creating competitive tension and resulting in an unconditional sale.
The sale follows Commonwealth Bank’s significant commitment to the Ballarat market, with the bank recently investing $6 million into its new Bridge Mall branch and business centre, enhancing customer services, accessibility, and specialist banking capabilities for the local community.
David Wright, Director at Colliers Ballarat, said the result demonstrates continued confidence in quality regional assets underpinned by long-term national tenants.
“The sale highlights the depth of buyer demand for securely leased investments in major regional centres. The property’s prominent Bridge Mall location, combined with the strength of the Commonwealth Bank covenant and the recent $6 million upgrade, created a compelling investment opportunity for buyers seeking secure income and long-term tenant commitment.”
Lucas Soccio, Head of Premium Investments Victoria, Investment Services at Colliers, said the transaction highlighted the value of Colliers’ integrated platform across Victoria.
“By working collaboratively across our metropolitan and regional teams, we were able to identify the successful purchaser before formally launching the asset to market. This demonstrates the advantage of Colliers’ broad
reach and integrated platform, allowing us to connect the right buyers with opportunities and create competitive tension throughout the sales process.”
The successful outcome reinforces the continued appeal of nationally backed premium investments, particularly assets supported by substantial tenant capital investment and located within growing regional centres.
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