Jones Real Estate is pleased to announce the sale of "Mackie Mulgrave" located at 71 Mackie Road, Mulgrave.

This securely leased, freehold blue-chip investment was sold on Friday 12th of November to a locally based private investor following a comprehensive on market campaign that generated over 140 enquiries.

With 15+ attendees at the competitive On- Site Auction, 4 bidders and 32 bids in total, the property ultimately sold for $120,000 over the reserve price, representing an uplift of 57% for the vendor.

The property is underpinned by an initial ten (10) year term until August 2030, with further options until 2040, returning $65,205 per annum + GST & Outgoings and is subject to 3.5% rental increases annually.

The strong result of 4.67%, shows the current demand for securely leased investments especially in Melbourne’s South East. The underlying land value of Mulgrave and the strong covenant over the property coupled with low interest rate demonstrates the extreme buyer demand in the current market”said Sam Guest. 

To request a sales analysis please contact the selling agent Sam Guest of Jones Real Estate via the below contact details.