433-435 Police RoadMulgrave VIC 3170
Property Details for 433-435 Police Rd, Mulgrave
Last Listing description (September 2023)
JLL Healthcare & Life Sciences has the exclusive privilege of offering for sale this established essential service investment being the McKinley Medical Centre in Mulgrave .
Key details of the opportunity include:
+Single level medical investment of 466sqm with modern fit out
+ 5 + 5-year lease until 2032
+ Leased to established and long-term operator with 45 years' experience in the community
+ Current net rental of $189,000pa + GST and Outgoings
+ Benefiting from annual CPI rental increases, with next increase due in July-2023
+ Significant underlying land content of 2,159sqm*
+ 32 at grade car spaces providing ample parking for patients
+ Easily accessible centre with main road frontage to Police Road
+ Convenient position just moments from major arterials Monash Freeway and Eastlink
+ Strategically positioned 800m* from Mulgrave Private Hospital
+ Ideally located 1km from Waverly Gardens Shopping Centre
+ The Australian healthcare industry continues to grow, as reliance on the sector from the community increases
+ Australian healthcare expenditure accounts for c 9.3% of national GDP, equivalent to an annual spend of $6,661 per person. ^
^AIHW
PROUDLY SOLD BY JLL
To obtain further information or to arrange an inspection, please contact the exclusive selling agents.
Mark Stafford | 0404 401 053
MingXuan Li | 0498 688 998
5 + 5 Lease until 2032
Operator with 45 years' experience
Annual CPI rental increase due in July
Property History for 433-435 Police Rd, Mulgrave, VIC 3170
- 19 May 2023Sold for $3,600,000
- 30 Mar 2023Listed for Sale Contact the JLL Healthcare & Life Sciences Agents
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0About 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 9,500 properties. Over the last 5 years, Houses in Mulgrave have seen a 31.82% increase in median value, while Units have seen a 21.70% increase. As at 31 January 2026:
- The median value for Houses in Mulgrave is $1,169,289 while the median value for Units is $867,320.
- Houses have a median rent of $650 while Units have a median rent of $670.
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