The arrival of the property to the market provides a seldom available opportunity, for astute investors to acquire a landrich, freehold asset, complimented by a secure income stream and located within the core of arguably Western Australia’s premier commercial/industrial precincts, Osborne Park.
INVESTMENT HIGHLIGHTS
– Significant landholding of 10,628sqm*
– Total building area of 6,854sqm*
– Extensive frontage of 57.05m* to major thoroughfare of King Edward Road
– Very versatile and favourable “Development” zoning
– Extremely tightly held precinct
– Solid income stream of $942,023 p.a.* ^ NET
– Five (5) Tenants – including national occupiers
– WALE by Income 5.35 years^
– Programmed rental growth – fixed annual reviews of 3.5%
– Proximity to major transport networks
The offering comprises a significant landholding of 10,628sqm* supporting improvements by way of multi tenanted commercial/industrial complex of 6,854sqm*. The property has an extensive frontage to King Edward Road, arguably one of Osborne Park’s premier thoroughfares.
More specifically, the property is configured into two components; a two level commercial building with an impressive showroom on ground level and two well presented, partitioned office tenancies on the upper level.
The rear component comprises three (3) industrial warehouses, canopy and hardstand areas. The property benefits from an abundance of onsite parking (74 plus car bays*) in addition to excellent vehicular access with the ability for full drive around the premises.
LOCATION
Prominently positioned within the heart of the established commercial/industrial precinct of Osborne Park, approximately 8km’s northwest of the Perth CBD. Osborne Park is highly regarded as arguably one of Perth’s most established commercial/industrial precincts, benefitting from excellent connectivity and proximity to major transport networks.
ZONING
The property is zoned “Development” under the City of Stirling’s Local Planning Scheme No 3 and located within Stirling City Centre Special Control Area. This zoning allows for a broad multitude of commercial uses and very versatile future redevelopment options.
All proponents must complete their own planning enquiries with the relevant authorities.
TENANCY DETAILS & OUTGOINGS
The property is fully leased to five (5) tenants including national occupiers with current passing net rental of $942,023p.a.*^
Statutory Outgoings 2024/2025
Council Rates $55,431.03*
Land Tax $141,377* (single ownership basis)
Water Rates $3,920*
For more information, or to arrange an inspection, please contact Franco Gangemi or Wayne Mitsikas.
^ rental as at 1st May 2025
*Approximately
**Unless sold prior
