Victoria's business sale market is the second largest in Australia by volume, driven by Melbourne's density and a diverse economy spanning hospitality, professional services, manufacturing, and healthcare. The Melbourne market has its own characteristics — different buyer expectations, different lease dynamics, and a different broker landscape to NSW.
The Victorian market in 2025–26
Victoria has seen a significant increase in business sale activity over the past 12 months, particularly in the inner and middle suburbs of Melbourne. The post-pandemic recovery in hospitality has been uneven — some precincts have recovered strongly, others have not — and this creates both opportunity and risk for sellers in that sector.
Industrial and B2B businesses in Melbourne's western and northern corridors — Sunshine, Laverton, Campbellfield, Epping — are attracting strong buyer interest, mirroring the pattern seen in Western Sydney. The buyer pool for these businesses includes both local trade buyers and interstate acquirers looking to establish a Victorian presence.
Retail Leases Act (Victoria) — key differences from NSW
Victoria's Retail Leases Act 2003 has specific provisions that affect business sales. Key points for Victorian sellers:
- Landlords must provide a disclosure statement to the incoming tenant (buyer) at least 14 days before the lease assignment is executed
- The buyer has a right to terminate the lease within 14 days of receiving the disclosure statement if it was not provided on time
- Victorian retail leases have a minimum term of five years — shorter leases are not enforceable under the Act
- Rent reviews in Victorian retail leases cannot be based on CPI and ratchet clauses simultaneously
Sector-specific observations for Victoria
Hospitality
Melbourne's café and restaurant culture is genuine — it is not a marketing construct. But the density of competition means that location quality and lease terms are even more critical than in other markets. A café in a strong Melbourne precinct (Fitzroy, South Yarra, Richmond, Brunswick) with a long lease will attract a premium. A café in a secondary location with a short lease will not sell at any reasonable price.
Professional services
Melbourne has a deep professional services sector — accounting, legal, consulting, IT. These businesses are actively sought by both trade buyers and private equity. The key value driver is recurring revenue — businesses with retainer-based or subscription-based revenue models command significantly higher multiples than project-based businesses.
Manufacturing
Victoria's manufacturing sector is concentrated in the western suburbs — Sunshine, Laverton, Altona, Williamstown — and the northern corridor through Campbellfield and Epping. The buyer pool for Victorian manufacturing businesses is strong, with both local trade buyers and interstate acquirers active in the market.
Timing considerations for Victorian sellers
The Victorian business sale market has seasonal patterns that are worth understanding. Activity slows significantly in January (school holidays, summer) and in the weeks around Easter. The most active periods are February–May and August–November. If you are targeting a settlement before the end of the financial year, engagement needs to start no later than February.
The average time from engagement to settlement in Victoria is five to ten months — slightly longer than NSW, reflecting the additional complexity of the Victorian lease assignment process and the more cautious buyer due diligence culture in Melbourne.
