SOLD
Sold on 08 Dec 2023 for $2,200,000

13 Bastow Place
Mulgrave VIC 3170

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 968m2
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Sold By
Burgess & Rawson
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Property Details for 13 Bastow Pl, Mulgrave

Building Type
Commercial
Land Size
968m2
Local Government
Monash
Lot/Plan
40/LP206699

Last Listing description (November 2023)

Burgess Rawson is pleased to offer to the market this freehold office/warehouse industrial building at 13 Bastow Place, Mulgrave VIC for sale via Expressions of Interest.

This opportunity has the following key highlights:

+ Prominent 968 sqm* freehold land within tightly held precinct.

+ Gross building area of 677 sqm* including 351 sqm* of high clearance warehouse.
+ Special Use Zone 6 (SUZ6) Favourable land zoning providing flexibility for future use.
+ Modern office includes open plan areas, boardroom, partitioned offices, kitchen and amenities.
+ 18m* frontage and important 10 car spaces on site plus ample loading/unloading area.
+ 3 Phase power, motorized roller door, alarm system and end of trip facilities.
+ Owner Occupiers: A rare chance to secure a well-presented, well-equipped freehold building in a tightly held precinct.
+ Investors: The property benefits from the record low industrial vacancy rate of 0.6%** with 13.5%y/y^ rental growth providing surety that tenants can be secured quickly and competitively.
+ Established location close to major national brands including Amazon, Pfizer, Mercedes Benz, Audi, BMW, Tesla, Adidas, Toyota and Forty Winks,
+ Strategic position with easy access to major arterials such as Springvale Road, Dandenong Road, Wellington Road, Princes Highway, Eastlink (M3) and Monash Freeway (M1).
+ Available with or without the warehouse pallet racking.
+ To be sold with vacant possession.
+ Potential net rental: $111,705 pa* + GST + Outgoings ($165/m2)

To be sold via Expressions of Interest
Closing Thursday 30th November at 3pm AEDT

To arrange an inspection, or for more information, please contact the selling agents below.

DAVID NAPOLEONE
0417 308 067
dnapoleone@burgessrawson.com.au

JUSTIN KRAMERSH
0460 349 605
jkramersh@burgessrawson.com.au

*approx.
**JLL
^Knight Frank

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Property History for 13 Bastow Pl, Mulgrave, VIC 3170

A timeline of how this property has performed in the market
Last Sold
$2,200,000
08 Dec 2023
Listed for Rent
$920/w
13 Aug 2011
  • 08 Dec 2023
    Sold for $2,200,000
  • 01 Nov 2023
    Listed for Sale Price on Request
  • 17 Jun 2011
    Sold for $753,500
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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 2011 was 17,647 people. By 2016 the population was 19,380 showing a population growth of 9.8% 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 2011, 77.3% of the homes in Mulgrave were owner-occupied compared with 75.4% in 2016.

Mulgrave has 9,288 properties. Over the last 5 years, Houses in Mulgrave have seen a 24.33% increase in median value, while Units have seen a 16.68% increase. As at 30 September 2024:

  • The median value for Houses in Mulgrave is $1,090,961 while the median value for Units is $827,396.
  • Houses have a median rent of $620 while Units have a median rent of $620.
There are currently 20 properties listed for sale, and 11 properties listed for rent in Mulgrave on OnTheHouse. According to CoreLogic's data, 292 properties were sold in the past 12 months in Mulgrave.

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