Mulgrave Office Investment | $1.10M | Net Yield: 7.40% | ASX-Listed Tenant

Positioned within Victoria’s second-largest employment district, this Mulgrave office investment combines a high initial yield, ASX-listed tenant covenant and fixed annual rental growth within one of Melbourne’s key employment and innovation corridors.

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Acquired for $1.10 million, the property delivers a 7.40% net yield and is secured by an established ASX-listed technology company specialising in enterprise asset management solutions for government and major infrastructure organisations.

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The tenant has demonstrated a strong commitment to the premises, having already exercised its next lease option. The new three-year term commences in November 2026, with two further three-year options providing the potential for continued occupation through to 2035.

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Fixed annual rental increases of 4% provide above-CPI income growth throughout the lease term, while the net lease structure sees the tenant responsible for the majority of property outgoings, supporting a low-management investment profile.

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The property comprises approximately 268 sqm of commercial office accommodation across two suites, together with nine car spaces. The existing fitout incorporates open-plan workspaces, private offices, a dedicated boardroom and reception area, providing a functional corporate environment for the existing tenant and future occupiers.

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Strategically positioned within the Monash Employment and Innovation Cluster, the asset benefits from proximity to major employment, healthcare, education and retail infrastructure. The surrounding precinct is anchored by Monash University, the Victorian Heart Hospital and a significant concentration of national and multinational businesses.

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Connectivity is further supported by direct access to the Monash Freeway and established public transport networks, while the Suburban Rail Loop East project is expected to further strengthen accessibility to the broader Monash employment precinct over the longer term.

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With an ASX-listed tenant, fixed 4% annual rental increases, a 7.40% net yield and exposure to one of Victoria’s largest employment clusters, this acquisition reflects the calibre of commercial office assets Rethink Investing continues to secure for clients.