A fully leased trio of showrooms in Canning Vale in a high-exposure location has been offered for sale by Ray White Commercial.
In a corner position with frontage to busy Nicholson Road, the showroom-warehouse units at 1A/489 Nicholson Road, Canning Vale, are occupied by separate tenants.
India Grocer leases 418sqm, Paws & More Vet Centre occupies 415sqm and the remaining 271sqm is held by fitness studio F45.
Ray White Commercial WA sales & leasing associate Enrique Reyes is selling the property with colleague Josh Sumner on behalf of owner Just Developments (Aust) Pty Ltd in an expressions-of-interest campaign.
“It’s a unique leased investment opportunity with a good tenancy profile and mix,” Mr Reyes says.
“The site is in a great corner position fronting very busy Nicholson Road that provides great exposure for tenants. This makes it a preferred location for businesses in the area.”
Encouraging signs have emerged for the WA economy this year with some improvement in exports and increases in commodity prices, according to Ray White Commercial data.
Construction increases and infrastructure starts have triggered a change in sentiment which is also likely to appeal to savvy eastern states investors looking to WA for higher yielding options, says Ray White Commercial Head of Research Vanessa Rader in the Between the Lines Perth Industrial Sub 5,000sqm Leasing Market September 2017 report.
“This has been instrumental in building confidence in some market segments and as a result we have seen greater opportunistic investors venture to the west considering now being an optimal time to invest anticipating the current market is at 6 o’clock on the property clock,” Ms Rader says.
The Canning Vale property is on 1104sqm, with ample parking and rear roller door access. The two larger tenancies also have mezzanine areas.
Mr Sumner says more than 20,000 cars a day pass by the site.
“The weighted average lease expiry (WALE) is four years and the property returns a net rental income of $184,260 per annum,” he says.
Expressions of interest for 1A/489 Nicholson Road, Canning Vale, close on November 3, 2017 at 4pm (AWST).