39 Clunies Ross CrescentMulgrave VIC 3170
Property Details for 39 Clunies Ross Cres, Mulgrave
Last Listing description (November 2021)
POINT OF INTEREST:
A purpose-built office building that has been occupied by the current tenant since 1992 read: safe. With 392 sqm* of land and 370 sqm* of building across two titles, the opportunity doesnt just end at the tenants occupation (with ink still wet on a fresh lease), but the Commercial 1 Zoning for potential in the years to come. Both titles have two car parks and are accessed at the rear of the property and speaking of access, the property is located just 1 km* from the Wellington Road exits of the Monash Freeway and is connected by major thoroughfares like Springvale and Wellington Roads.
Lease Summary:
- 80% of total building leased to current tenant at $68,652pa* ++
- New 3 +3 + 3 year lease signed 16th July 2021
- CPI reviews, market at option
- Security bond of $10,000
Points Worth Mentioning:
- Fully leased potential of $89,000pa* ++
- Land size totaling 392 sqm* across two titles
- Combined building area 370 sqm*
- Commercial 1 Zoning
- Future development upside potential
- Rear ROW four (4) on-site car parks
- 1 km * from Monash Freeway
POINT OF VIEW:
When it comes to investments, they dont come sounder than this. Blending all aspects of a profitable investment that includes two freehold titles, a 30-year tenant that has stood strong and recently signed a new lease everything makes sense now it just comes down to dollars.
*Approx.
Pricing excludes GST
Property History for 39 Clunies Ross Cres, Mulgrave, VIC 3170
- 15 Dec 2025Sold for $1,550,000
- 28 Oct 2021Sold for $760,000
- 01 Oct 2021Listed for Sale Contact Agent
Recent sales nearby
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About Mulgrave 3170
The size of Mulgrave is approximately 10.7 square kilometres. It has 40 parks covering nearly 5.8% of total area. The population of Mulgrave in 2016 was 19368 people. By 2021 the population was 19889 showing a population growth of 2.7% in the area during that time. The predominant age group in Mulgrave is 30-39 years. Households in Mulgrave are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mulgrave work in a professional occupation.In 2021, 74.80% of the homes in Mulgrave were owner-occupied compared with 75.40% in 2016.
Mulgrave has 9,410 properties. Over the last 5 years, Houses in Mulgrave have seen a 15.32% increase in median value, while Units have seen a 12.35% increase. As at 30 April 2026:
- The median value for Houses in Mulgrave is $1,117,576 while the median value for Units is $857,336.
- Houses have a median rent of $660 while Units have a median rent of $660.
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