Facey Property Featured in ICP National Property Guide – Edition 22

Q1 of 2026 has provided an eventful period for the Victorian team with strong activity in sales. Key highlights have included commercial investment sales and land sales.

The investment appetite has been interesting, with our expressions of interest method being most favoured by vendors. Quality investment opportunities are well sought after with private investors looking to deploy capital into both retail and non-retail assets. Location, future upside, and tenant quality are all priorities for buyers. There has also been a fundamental shift in buyer activity driven by the fast growing ‘buyer advocate’ sector. This has driven a higher level of cross border activity, being very relevant to our ICP model.

Yields are holding firm at 5 to 5.5% despite there being plenty of noise chasing 6% for some time. On the ground, I can’t recall the last time we sold something at 6% or greater. It will be interesting to see if yields soften any further in the next quarter or two with changes to interest rates.

The leasing activity has been more restrained. Confidence to move forward with lease commitments is being tested by uncertainty around economic factors both home and abroad. Time on market has lengthened as has supply. Tenant retention is highly desirable where possible.

On a positive note, there has been a shift in momentum in the industrial land market. A correction in pricing along with some increased developer activity has seen some renewed confidence in the sector. An important change with long term flow on effects for our industry and market.