HIGH PROFILE CORNER SITE WITH DEVELOPMENT POTENTIAL & INCOME
Knight Frank is pleased to present a highly strategic and significant 958sqm development site located at 42 Bennett Street, East Perth. Sitting at the intersection of Hay and Bennett Street, the site offers a commanding presence and maximum visibility from two major roadways. Additionally, the property has a third frontage facing Forrest Avenue cul-de-sac, providing added accessibility and privacy for residents or clients.
Investment Highlights
• 958sqm site with 3 street frontages in a prime corner location.
• Offers flexibility for mixed-use residential, hotel, retail/dining, or commercial (STCA).
• Zoned ‘Town Centre’ with 4:1 plot ratio (bonuses available) and undefined height limit.
• Substantial holding income of $145,779 p.a; offsetting holding costs during planning phase.
• Improved with a small two (2) storey building of approximately 365 sqm
Lease Details
Offers substantial income providing developers with the benefit of offsetting holding costs while they are in the planning and design stages of development. Details are as follows:
• Leased to Urban OM, a yoga/café operator paying $112,179 p.a* (expiring 6th October 2027) (redevelopment clause present)
• Leased to Wilson Parking for 16 bays, paying $33,600 p.a * (month-to-month)
• Total Net Income of $145,779*
To arrange an inspection or request a copy of the Information Memorandum, please contact the exclusive selling agents Zach Schreier and Jonathan Wong.
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