An opportunity exists to acquire a substantial fringe CBD development site of 4,882sqm. The property has prominent exposure with 4 street frontages and is strategically located in close proximity to CBD, Royal Perth Hospital, major highways and public transport networks.
Property features include:
• 2,526sqm* Gross Lettable Area
• 2208sqm* vacant ex-Office Works suitable for a wide variety of uses
• 318sqm* long lease to MyCar with redevelopment clause
• 4,882sqm Land Area
• 60 car bays (59 open bays, 1 disability bay)
Potential passing net income: $761,464*
The property could yield up to 12,205sqm based on a 2.5: 1.0 plot ratio. DA approval was obtained 2 February 2016 for the development of a 10-level mixed used development containing 214.
Prominently situated on the north east corner of Lord and Wittenoom Street, East Perth. The location is approximately 1km east of the Perth GPO (central Perth) and 1km north of the Swan River foreshore. The property is easily accessible to Freeway systems and public transport including rail, bus and CAT services and surrounded by and abundance of public parking.
Surrounding land use comprises a vibrant mix of apartment developments, offices, retail, restaurants, community uses and educational establishments.
For Sale by Expressions of Interest
For further information or to arrange an inspection, please contact the Agents:
Luke Pavlos
Ray White Commercial (WA)
M: 0408 823 823
E: luke.pavlos@raywhite.com
Brett Wilkins
Ray White Commercial (WA)
M: 0478 611 168
E: brett.wilkins@raywhite.com
* approximate
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