Kardinya Park Shopping Centre, Kardinya
$200,000 operating cost savings
919 HAY STREET
Improvements comprise a modern 14-storey, A-grade office building completed in 2010 and three adjoining heritage listed properties providing retail accommodation.
The building features three ground floor restaurant & retail tenancies including Hugo Boss, Tiny Roma’s and Seafood & Steaks, basement parking inclusive of 78 car bays and end of trip facilities, 12 further levels of accommodation providing 13,360sqm* of office space, floor place of approx. 1,070sqm*, extensive glazing providing good natural lighting to tenancies and a 5.0 – star NABERS Energy rating and 4.5 star Water rating. The property benefit from refurbished open plan floors, refurbished end of trip and refurbished lobby.
The 13,360sqm* modern office component was 100% vacant at date of sale, with only the retail & heritage accommodation tenancies leased. We understand the purchaser had allocated $5m for ACP rectification works essentially increasing the purchase price of the building to $72.8m ($4,857sqm*).
Sale Analysis | |
Sale Price: | $67,800,000 |
Sale Date: | December 2020 |
Site Area: | 14,989sqm |
Vendor: | Private |
Purchaser: | Redhill Partners |
*Approximately
$200,000 operating cost savings
West Perth character