14 & 15/524 Hay Street, Perth, Western Australia
Rock Solid Investment – 8.2% Yield – Asking Price of only $2.9 million and it’s all very Legal….
SERVICE STATION INVESTMENT
The property is located in the commercial precinct of West Perth, on the corner of Vincent Street, Fitzgerald Street and Eden Street, approximately 2 kilometres west of the Perth CBD.
The property had difficult contamination issues which complicated the sale. As agents, we required detailed knowledge of the relevant legislation to find a path for the buyers and financiers to settlement.
Leased investment. Major development options on lease expiry. Corner lot with three street frontages.
• Future multi-level mixed-use redevelopment potential
• 10 year lease to Puma Energy exp Dec 2026 plus options
• $258,750 p.a. net income
• 3.5% annual increases
• High profile corner location with 33,460 traffic count
| Sale Analysis | |
| Sale Price: | $4,020,000 |
| Sale Date: | 6 June 2018 |
| Site Area: | 1,077m2 |
| Rate/m2: | $3,732/m2 |
| Net Income: | $258,750 pa |
| Yield – passing: | 6.4% |
| Lease: | 10 Years |
| Vendor: | Private Investor |
| Purchaser: | Private Investor |
| Sale Process: | Sold by Private Treaty to Private Investor |
Rock Solid Investment – 8.2% Yield – Asking Price of only $2.9 million and it’s all very Legal….
52 Lord Street is substantial fringe CBD development site of 4,882sqm. The property has prominent….