Invest or Pay down Debt?

Hello Fellow Members,

I am a new member and excited to be on here to gain some knowledge and advice.

I will try to keep it short;

My partner and I own 3 properties.

1 is fully offset. The other will be fully offset by March 23 – those 2 both have tenants in.The other we live in and run our business from.

We have the majority of the loan yet to pay off on our business property, it is fixed interest for 2 more years.

My question is are we better off to focus on paying down all our debt or look to purchase an investment grade property.

We have a borrowing capacity from our mortgage broker of 1.5 million, but given the inevitable interest rate rises coming – not sure what to do.

I am acutely aware of the fact that the longer we wait ( 2-3 years) prices would have risen.

All advice will be greatly appreciated!
many thanks in advance