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 |
In another strong indicator of Subiaco’s growing investment appeal, the landmark Tighe’s Building at 131-135 Rokeby Road has changed hands for $5 million in an off-market transaction brokered exclusively by Michael Milne.
$200,000 operating cost savings