As Melbourne’s leading independent commercial property agency, we take pride in creating worth across all four points of this city.
01. Point of Interest 02. Point of View
Property Features 04. Property Particulars 05. Location
06. Appendices Tenancy Schedule
A dual-title commercial property investment in the heart of Mulgrave, these two freeholds offer a fully leased security blanket generating $98,168.42 per annum + GST & outgoings — backed by a 30-year anchor tenant and a freshly signed lease upstairs. Coster Galgut has thrived within building 39 and the ground-floor of 41 for over three decades, renewed agreement from 1st July 2024 with a 3+3+3 year term. Commtech, which moved into building 41’s first floor on the 2nd of June 2025, has a 2+2+2-year agreement.
Purpose-built, light-filled, and professionally fitted, both offices feature ducted air-conditioning, rear ROW access, and 4 on-site car parks with some weather-proofed. It’s a well-kept, low-maintenance freehold in a tightly held pocket where even Kmart host their Head Office. Just 1 km* from the Monash and moments from Springvale and Wellington Roads, you’re also only 1.8 km* to Princes Highway and surrounded by commercial and industrial heavyweights like GWM, Tesla, and Bulla.
Anchored by impressive loyalty and positioned for the future, this investment hits every lucrative benchmark — in this postcode and beyond the (Mul)grave.
Tim Cooney | 0468 860 737 tim.cooney@cva.melbourne
“Two freeholds, long-term tenants, and strong income — this is a secure, low-maintenance Mulgrave investment you won’t find twice.”
After five years spent working in commercial real estate in London, Tim is home in 2021. Melbourne born and bred with more than 5 years’ experience locally, there aren’t many who are better suited to this business. Diligent. Proactive. An honest communicator. Tim knows it’s in the face-toface where deals are won and lost for all parties. Because of this, he takes great care in building rapport and learning the long-term strategy of his clients to enable the best advice not just shortterm, but for life. Meticulously detailed and across all of the numbers, you’ll be glad you have Tim’s on hand – plus his support across all points of your deal.
Ian Angelico | 0418 336 088 ian.angelico@cva.melbourne
“Prime location, quality leases, and future flexibility — a rare dual-title opportunity delivering reliable returns from day one.”
In more than 30 years, Ian has witnessed the successful signing of more than two thousand commercial real estate transactions – which is more of a legacy, than a track record. And it’s one that has been achieved by adopting a methodical approach amongst a myriad of changing variables. It’s one that has been sharpened through his holistic exposure to commercial projects across all points of Melbourne. By focusing on maximising each property’s profitability, Ian ensures that at the end of the day, it’s maximising value that determines his success.
The improvements at 39–41 Clunies Ross Crescent comprise two exceptionally wellpresented, purpose-built commercial buildings that offer a bright, efficient, and highly functional working environment. Inside, the offices feature suspended acoustic ceilings, LED panel lighting, and ducted air-conditioning that deliver yearround comfort across both levels. The internal fit-out is modern and professionally arranged, with a combination of private rooms, open-plan work zones, and meeting-ready spaces that allow tenants to operate seamlessly. Each office is supported by extensive storage infrastructure— including built-in shelving, compactus units, and commercial-grade filing cabinets—reflecting an environment designed for businesses that rely on orderly document control or administrative processes.
The work areas are clean and structured, showcasing multiple monitor setups, ergonomic workstations, and wide desk arrangements that promote productivity and organisation. Additional spaces include dedicated printing and utility
zones equipped with copier stations, shelving recesses, and tiled rear access points, providing smooth workflow transitions between administrative tasks. Natural light filters throughout the buildings via large windows and internal glazing, enhancing staff comfort and improving the overall ambience. Both structures boast solid brick construction, commercial-grade carpeting, durable finishes, and timber staircases that highlight the buildings’ longterm reliability. Rear right-of-way access enables easy deliveries, movement of supplies, and flexible entry, supported by four on-site car parks with some protected from the elements—an increasingly rare convenience in this tightly held Mulgrave business enclave. Altogether, the improvements present a low-maintenance, light-filled, and professionally outfitted pair of freeholds that have supported decades of stable tenancy and continue to offer a highly desirable setting for a wide range of commercial operators.
Principle Outgoings
Site Details
Title particulars
Zoning
Certificate of Title — Volume 08568 Folio 681
Lot 1 on Plan of Subdivision PS305074V
Certificate of Title — Volume 08676 Folio 625
Lot 2 on Plan of Subdivision PS305074
Commercial 1 Zone (CIZ)
Planning Overlays TBC
Municipality City of Monash
