52 Lord Street is substantial fringe CBD development site of 4,882sqm. The property has prominent exposure with 4 street frontages and is strategically located in proximity to CBD, Royal Perth Hospital, major highways, and public transport network.
The site sold improved with the sitting tenant mycar Tyre & Auto paying $175,152pa and the vacant building of 2,208sqm* having potential to be leased for circa $350,000pa.
The site was purchased by a large local development group with a precommitment to lease to SASH Hospital, a national veterinarian hospital group for 20 Years.
| Sales Analysis | |
| Sale Price: | $11,550,000 as Going Concern |
| Sale Date: | 25 Nov 2022 |
| Gross Lettable: | 2,526sqm* |
| Site Area: | 4,882sqm* |
| Site $/sqm: | $2,356/sqm |
| Vendor: | Pindan Group |
| Purchaser: | Hesperia |
| Sales Process: | 5 week EOI campaign, 4 offers received |
*Approximately
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