A significant part of one of Perth’s most renowned retail precincts has hit the market.

672 Beaufort Street is positioned in the heart of Mount Lawley approximately 100m north of the intersection of Walcott Street. The 1,012m2 site is likely to attract a large amount of interest in what has traditionally been a tightly held location.

The property benefits from a Mixed Use Zoning allowing for a multitude of future development options.

Axia Corporate Property’s Director of Investment Sales, Wayne Mitsikas said “The property represents an unlikely to be repeated opportunity to secure an income stream from long term Tenants together with substantial development upside in an A grade location”.

The vibrant Beaufort Street retail strip features a unique mix of retailers, cafes and bars providing a high level of amenity for residents and patrons alike.

Mr Mitsikas believes the property’s superb physical and locational attributes and potential for City views would allow a developer or investor to really put their stamp on the precinct. “There is so much flexibility with this property as there is a fantastic opportunity to grow the income stream now whilst further developing the site in the future” said Mr Mitsikas.

“The retail sector continues to perform well especially with strong demand emanating from food based retailers and we have a number of national tenants currently expressing their interest in the site” Mr Mitsikas added.

The property is being marketed for Sale by Offers to Purchase, closing 4pm (WST), Wednesday, 23rd March 2016.