Mulgrave Corporate Offices Sold

Mulgrave Corporate Offices Sold

Corporate strata office units in a renowned commercial business precinct at Mulgrave in Melbourne’s south-east have been sold by Ray White Commercial Oakleigh.

The two office units in Compark Circuit, Mulgrave, were sold for a total of $712,500 by Theo Karkanis and Paul Rizzo of Ray White Commercial Oakleigh on behalf of a private seller.

Theo Karkanis said an approximately 75 sqm tenanted property at 1/9 Compark Circuit, Mulgrave, was sold prior to auction to a local investor for $412,500.

“This was an outstanding investment property in exclusive Compark Circuit and the sale price of $5500 per sqm represents a yield of 5.56 per cent,” Mr Karkanis said.

“The office suite is leased by Symbiotic Devices Pty Ltd and is currently returning net rental of $22,950 per annum.”

Mr Karkanis and Mr Rizzo also said an approximately 63 sqm vacant office suite at 4/9 Compark Circuit, Mulgrave, was sold to an owner-occupier for $300,000, representing a sale price of $4,762 per sqm.

“The office complex is conveniently located near the intersection of Wellington and Springvale Road, with easy access to main arterial roadways such as Blackburn Road, Princess Highway and the Monash Freeway,” Mr Rizzo said. “It is also positioned near numerous public transport options.”