508-520 Wellington RoadMulgrave VIC 3170
Property Details for 508-520 Wellington Rd, Mulgrave
Last Listing description (October 2023)
A Last Mile Logistics Opportunity of Unmatched Scale
Dawkins Occhiuto are pleased to exclusively present for your consideration the most significant infill opportunity to come to market in 2023.
Located approximately 23 kilometres southeast of the Melbourne CBD, 508-550 Wellington Road, Mulgrave represents an unprecedented opportunity to acquire an enormous 23.23 hectare* infill site within one of Melbourne's most tightly held inner southeastern suburbs.
Underpinned by strong tenant covenants, the property offers an impressive, combined holding income, future development upside and the ability to reposition existing improvements, capturing rental reversion.
522-550 Wellington Road is home to Woolworths' Victorian head office and one of two national distribution centres operated by the retail giant. 508-520 Wellington Road comprises Renold Australia's head office, factory and distribution centre.
Key features of the offering include:
+ Total site area: 23.23 Ha*
+ One of Melbourne's largest infill sites
+ 2 adjoining logistics & distribution centres offering 76,193 sqm* of gross lettable area
+ 100% leased to Woolworths and Renold Australia
+ Ideal last mile logistics destination in the heart of the South East
+ Net passing income: $6.15 million p.a.* (as at 1 August 2023)
This standout property is offered for Sale In-One-Line via International Expressions of Interest closing Thursday, 24 August 2023 at 3.00pm (AEST).
Please contact exclusive selling agents, Dawkins Occhiuto for more information.
*Approx.
Property History for 508-520 Wellington Rd, Mulgrave, VIC 3170
- 25 Jul 2023Listed for Sale Contact Agent to Discuss
- 15 Oct 2019Listed for Rent - Price not available
- 17 Sep 2018Sold - Price Undisclosed
Recent sales nearby
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0About Mulgrave 3170
The size of Mulgrave is approximately 10.7 square kilometres. There are 40 parks, covering nearly 5.8% of the 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 9,406 properties. Over the last 5 years, Houses in Mulgrave have seen a 4.00% increase in median value, while Units have seen a 7.40% increase. As at 30 June 2026:
- The median value for Houses in Mulgrave is $1,056,428 while the median value for Units is $844,996.
- Houses have a median rent of $680 while Units have a median rent of $660.
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