Government affiliated organisation Victrack, whose role is to operate commercially by adding value to the state’s public transport assets, said it is investigating plans to revamp the Windsor train station, and that a decision or proposal should be expected within 12 months.

The existing underpass bridge isolates the most southern part of the bourgeoisie shopping strip, from the parts of Chapel Street, north of the Windsor train station.

News of a redesigned Windsor train station and underpass comes almost ten years after Victrack undertook a similar exercise at a train underpass a little further north on Chapel Street, between Palermo and Arthur streets.

That redevelopment added about five new shops to the strip, tenanted by the likes of Sportsgirl, Puma and Rip Curl.

“We trade in good times because people are still brand-conscious. In tougher times, in 2009 and 2009, we experienced the greatest sale growth we’ve ever had.”

Jones Lang Lasalle’s Simon Rooney is marketing the portfolio to select domestic institutions and international groups.

The DFO directors have ruled out a float, according to the AFR, “but hopes an institutional backer will support its longer term ambitions.”

The portfolio is expected to arouse interest from DFO rivals including Colonial First State Global Asset Management, Lend Lease, GIC Real Estate and ISPT.

Mr Porz said the final shape of an institutional backers involvement is yet to be determined.

Major DFOs are in Cairns, Brisbane Airport and Jindalee in Queensland, Homebush in Sydney, and as well as Moorabbin, South Wharf and Essendon Fields in Victoria. Canberra also has a DFO, while one is under construction in Hobart, according to the AFR.

More DFO Coverage:

DFO South Wharf Opens Today, as Outgoing Spencer DFO Converted to Mainstream Mall

DFO South Wharf, Melbourne, to Open October 15

DFO Owners Buy Chadstone Bulky Goods Development Site

South Docklands Takes Off

“Two years down the track we are hoping to be in all states in one guise or another, but there is no rush to grow.”

The company will use distribution networks from affiliate global packaged goods giant Unilever.

Ben Cohen and Jerry Greenfield established the ice cream brand in Vermont in 1978. The original business model focuses on investing in the local community – something Ms Simpson expects will continue in Australia.

The company will compete with brands Cold Rock Ice Creamery, Baskin Robbins, New Zealand Natural and Wendy’s.

Jones Lang LaSalle managing director Andrew Wood, who negotiated the national sell-off for ANZ, said recent share market volatility is clearly driving investors to passive secure property assets, like those on offer this week which had long leases.

The highest price paid was for a bank in Hay Street West Perth, which fetched $8.25 million, and sold on a yield of 5.28 per cent.

The banks to sell on the lowest yield included the ANZ Bank at Spring Hill in Queensland, which sold for $2.27 million on a yield of 3.43 per cent, and a bank in the Victorian coastal township of Hastings, which sold for $1.3 million, reflecting a yield of 3.77 per cent.

Omni Property Group is a joint-venture partner in the development of freehold sites previously owned and occupied by Australia Posters advertising.

Australian Posters acquired most of the high-exposure sites as a result of council road-widening projects over the past 30 years.

The agency counts all retail sales of greater than $5 million, and its statistics include the recent Myer sale, which makes up about half the total.

"Rising investor demand has seen retail capital values increase by 10 per cent to 25 per cent over the past 12 months," said Knight Frank director Clinton Baxter. "Yields also dropped by 0.25 percentage points to 0.5 per cent over the year."

As in the office market, a lack of property available for purchase has driven the price rises more so than retail rents, which remained relatively unchanged.

"These assets will continue to be highly sought after but will remain tightly held, particularly as yields maintain their low rate," said Mr Baxter.

The property has almost 50 metres frontage to Punt Road, between Toorak Road and Commercial Road, with side access to Argo Street.

John A Castran director and selling agent John Castran, who sold the business with Grita Angelucci, said the new owners are expected to operate a new restaurant from retail space in the car wash complex. The Baker Group runs several restaurant businesses in Melbourne’s inner city.

The purchase also gives The Baker Group retail space at a car wash in Nepean Highway Brighton, where Clearwater is a tenant. The value of Clearwater Carwash business was $6.35 million.

Mr Castran said Clearwater has operated using a “clean and green” water saving system which recycles water, and is endorsed by the State Government’s Smart Water Fund.

The site has a 73 metre frontage to Mitcham Road and is near the Springvale Road entrance to Eastlink, which is due to open later this year. The sale was negotiated by GormanKelly.

In Rowville, a local private investor has paid $3.54 million for a service station and convenience store in Rowville. The 3,752 square metre property is adjacent to the Stamford Hotel, and is also close to an Eastlink freeway exit on Stud Road.

The property is leased to Woolworths Limited until 2016 with two five year options. Colliers International manager – commercial and investment sales Peter Bremner, who marketed the property, said it sold on a yield of 7.25 per cent.

Both agents said the properties attracted strong interest from private investors.

The remainder of the site will be divided into eight further bulky good showrooms of between 1000 square metres and 2600 square metres. It will also include car parking for 660 cars.

Baron Corporation director Stewart Baron said redevelopment of the former textile manufacturer will start next week, and be complete by the middle of next year.

The property at 64 – 96 Gaffney Street is widely recognised as the former home of furniture retailer Gainsville.

Late last year Gainsville, known for its TV adverts featuring scantily clad women posing with the product range – relocated to a smaller premises in Thomastown. It occupies around 3700 square metres for a combination showroom/warehouse, encompassing nearly one third of a new homemaker retail development on Settlement Road.