Campbellfield Retail Asset Offers Front-Row Seat to $1.1B Redevelopment

Long-standing tenant and established retail strip underpin $900,000-plus investment opportunity.

Colliers has been appointed to sell 335 Barry Road, Campbellfield, a freehold retail investment positioned within one of Campbellfield’s most established neighbourhood shopping strips and directly opposite Pelligra’s $1.1 billion mixed-use redevelopment, formerly the Ford Factory site.

The property is being offered for sale on behalf of a private investor, with price expectations in excess of $900,000 and a passing yield of approximately 6.2%. The campaign is being managed by Travis Keenan and Jem Ali-Nolan of Colliers, with the property scheduled to go to public auction at 11.00am on Friday, 16 October 2026.

Occupying a 148sqm landholding improved by a 115sqm building, the property is leased to long-standing local operator Panic Pizza, which has traded from the location for almost 26 years. The tenant provides net rental income of $59,231 per annum plus GST and outgoings under a five-year lease running to September 2029, with four further five-year options and annual CPI rental increases.

The property sits directly opposite Pelligra’s Assembly development, a major mixed-use project incorporating a significant commercial and employment hub. The development is expected to bring significant new investment and activity to the surrounding area, further supporting the established retail offering along Barry Road.

Travis Keenan, Associate Director & Auctioneer, Melbourne Metro Sales | Investment Services at Colliers, said the property had attracted strong enquiry from local investors.

“We’ve received strong enquiry so far, predominantly from local investors who understand the tightly held nature of this retail strip and the limited opportunities to acquire freehold investments in the precinct,” Mr Keenan said.

“The property’s long-standing tenant profile, secure income stream and fixed rental growth continue to resonate with investors seeking defensive retail assets in established neighbourhood locations.”

Jem Ali-Nolan, Executive, Metro Sales | Investment Services at Colliers, said the scale of Pelligra’s redevelopment was expected to transform the area and create new opportunities for local retail businesses.

“The scale of the Assembly project will bring significant investment and new activity to the area, creating a significantly different retail and commercial environment around Barry Road over the coming years,” Mr Ali-Nolan said.

“Upon completion, the project is expected to introduce a substantial employment and commercial hub to the area, increasing daily visitation, worker activity and demand for convenience retail services. For investors, the opportunity to secure a retail asset directly opposite one of Melbourne’s largest urban renewal projects creates a compelling long-term growth story alongside the existing income profile.”

With an established retail tenancy and Pelligra’s $1.1 billion Assembly redevelopment directly opposite, 335 Barry Road offers investors a rare opportunity to secure a freehold asset at the centre of significant change in one of Melbourne’s evolving northern precincts.