SOLD | $1,395,000 | 4.67% YIELD

71 Mackie Road, Mulgrave VIC, Australia
  • Address: 71 Mackie Road Mulgrave VIC 3170
  • Land Area: 186 sqm*
  • Property type: Retail & Investment
  • Offer type: Transactions
  • City: Mulgrave
  • Post Code: 3170

Overview

YOUR NEXT SECURELY LEASED BLUE CHIP TENANTED INVESTMENT

  • LEASED WITH OPTIONS UNTIL 2040
  • RETURNING $65,205 PER ANNUM ++
  • SUBJECT TO 3.5% INCREASES ANNUALLY

Jones Real Estate is pleased to offer for your consideration, ‘Mackie Mulgrave’- 71 Mackie Road, Mulgrave.

This blue chip commercial investment is leased on an initial ten (10) year term until August 2030, with further options until 2040 and is subject to 3.5% rental increases annually.

This securely leased, dual story, freehold blue chip investment is situated in the heart of Mulgrave. The property itself is not only surrounded by a large loyal residential catchment, but also by trusted commercial office tenants such as Audi, Beacon Lighting, Vic Roads, Moffat, Mercedes-Benz, and Kmart’s Head Office.

Operated by multi venue operators with an extensive and proven track record, ‘Mackie Mulgrave’ has undergone a comprehensive renovation and refurbishment to present as the blue chip commercial investment it is today.

Key highlights of this securely tenanted blue chip investment include;

  • Prominently positioned on a key corner landholding of 186sqm* situated in the tightly held Mackie Road Shopping Strip
  • Dual story freehold offering 178sqm* of building area with access to eleven (11) on-streetcar parks
  • Offering over 37 metres* of combined street frontage to Mackie Road and Medoro Grove with additional rear laneway access
  • Securely leased to experienced and successful multi venue operator with a passing net rental of $65,205 per annum plus GST and outgoings
  • Ten (10) year initial lease expiring 31st August 2030 with a further two (2) additional five (5) year optional terms and is subject to 3.5% increases annually
  • The property is secured by a six (6) month bank guarantee & director’s guarantee further safeguarding the investment
  • Favourable Commercial 1 Zoning (C1Z) allowing for multi-level development potential (STPA)
  • Positioned on the doorstep of the Monash Freeway, Eastlink, Wellington Road, Ferntree Gully Road, Springvale Road, Princess Highway and Blackburn Road

For Sale via On Site Public Auction on Friday 12th of November 2021 at 1pm.

*approx.

For further information please contact the exclusive selling agents.

Sam Guest
+61 458 467 482
Sam.Guest@Jonesre.com.au

Paul Jones
+61 488 779 749
Paul.Jones@Jonesre.com.au

Tim Spargo
+61 402 747 030
Tim.Spargo@Jonesre.com.au

Luke Peric
+61 432 467 771
Luke.Peric@Jonesre.com.au

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