18 & 20 Kearns Crescent, ARDROSS, WA 6153

A prime opportunity acquire a high density development site, with holding income in one of Perth's most exclusive riverside suburbs.

Currently two office buildings that are well maintained and managed, the sites offer both a passive income stream and the ability to develop.

Located in the Riseley Centre Precinct with all it's local shopping amenity and with the ability to build 6 stories or higher (STCA^), the site is ideal for high end residential, NDIS, aged care or commercial redevelopment.

Land Area:

• 18 Kearns Crescent - 1,030sqm

• 20 Kearns Crescent - 930sqm

• Total - 1,960sqm

Lettable Area:

• 18 Kearns Crescent - 526sqm*

• 20 Kearns Crescent - 519sqm*

• Total - 1,035sqm*

Net Income:

Current Passing Income $251,000 + Outgoings & GST (approx.)

Fully Let Potential Income $285,000 pa + Outgoings & GST (estimated)

Development Potential

6 Stories. Although it should be noted that 7 stories has been approved within the precinct.

Zoning:

District Centre 2 - "Riseley Centre Precinct" under the City of Melville Town Planning Scheme No.5.

"Precinct 3:The Crescent - District Centre R-ACO (no maximum residential density)" under the City of Melville Riseley Activity Centre Structure Plan.

Offers Invited

For further information or to arrange an inspection please contact:

Brett Wilkins

Ray White Commercial (WA)

M: 0478 611 168

E: brett.wilkins@raywhite.com

Stephen Harrison

Ray White Commercial (WA)

M: 0421 622 777

E: stephen.harrison@raywhite.com

*approximate

^Subject to Council approval

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