The arrival of the property to the market provides a superb opportunity to procure a well leased retail investment, with prominent main thoroughfare frontage and located within arguably one of Western Australia’s most premier showroom/commercial precincts.
The offering comprise 166sqm* of predominantly open plan showroom accommodation.
Investment Highlights:
– Well established long term tenant for circa 19 years*
– Secure income stream with programmed rent reviews
– Highly regarded and established showroom precinct
– Prominent frontage and exposure
– Presentable and versatile improvements
– Tightly held area
– Flexible zoning allowing for a variety of uses
– Highly accessible with outstanding connectivity to major transport thoroughfares
– Abundant onsite parking
Zoning:
The City of Stirling notes the property is zoned ‘Mixed Business’ within the Gwelup Water Protection Special Control Area under their Local Planning Scheme 3. The zoning supports a variety of uses and proponents must make their own inquiry with the City of Stirling re proposed uses.
Tenancy Details:
Commencement Date – 1st November 2018
Expiry – 31st October 2023
Option Term Commencing – 1st November 2023^
Expiry – 31st October 2028
Current Passing Rental – $32,052.72 p.a.*
Reviews – Annual at CPI for Western Australia with next review 1st November 2023
^Tenant has advised they will be exercising their Option.
Statutory & Strata Outgoings (2022 – 2023):
City of Stirling Council Rates – $2,681.49
Water Corporation Services – $1,998.90
Strata Levies – $4,590.00
We are advised that the property does not attract Land Tax as it falls below the threshold level.
For further information, please contact exclusive selling agents.
*Approx.
