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Case Studies

309-311 Fitzgerald Street, Western Australia

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
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