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Overview
Leased Freehold with Flexibility from 2027 - Must be sold!
This property at 1 Dunoon Court, Mulgrave, presents a unique opportunity for investors and owner-occupiers alike. The property is currently leased to a long-term tenant, Lito Hair and Make-up Artist, with a lease that has been renewed for an additional 12 months starting from January 1, 2026. The annual return is $21,000 plus GST and outgoings, making it an attractive investment in Melbourne's competitive south-eastern corridor.
The lease is set to expire in January 2027, providing flexibility for the new owner. Investors can choose to continue the tenancy and negotiate new terms with the existing tenant, or owner-occupiers can take possession and establish their own business from early 2027. The property features a well-maintained building of 70 square meters, which includes four rooms, a reception area, an internal toilet, and a kitchenette. Additionally, there is a substantial rear yard with an engineered slab, offering potential for storage, expansion, or future redevelopment (subject to council approval).
Key highlights of the property include:
- Land area of 186 square meters
- Building area of 70 square meters
- Four rooms plus a reception area
- Internal amenities including a kitchenette
- Large backyard with engineered slab
- Current rental income of $21,000 per annum plus GST and outgoings
- Tenant: Lito Hair and Make-up Artist
- Lease expiry in January 2027
- Flexibility to occupy or renegotiate terms
- Potential for value addition or development (subject to council approval)
Mulgrave is a well-established suburb located 21 kilometers southeast of Melbourne's central business district. The property benefits from excellent access to major arterial roads, including the Monash Freeway (M1), Princes Highway, Springvale Road, Wellington Road, and Blackburn Road. This connectivity ensures efficient travel to the CBD, Monash employment precinct, and surrounding suburbs such as Clayton, Wheelers Hill, and Notting Hill. Public transport options are readily available, with bus routes along Springvale Road and Wellington Road, as well as train access via nearby Springvale Station and Glen Waverley Station. The area is also supported by significant amenities, including Brandon Park Shopping Centre, Waverley Gardens Shopping Centre, and Monash University, which contribute to the long-term demand for commercial properties in the region.
For further information or to arrange a suitable time for an inspection, please contact the listing agents.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Change History
| Headline | When |
|---|---|
| Contact Agent |
Location
Mulgrave VIC 3170
Measurements
| Type | Dimensions |
|---|---|
| Building Area Sqm | 70 |
| Floor Area | 70 m² |
Market Insights for Mulgrave VIC 3170
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