A rare inner-western suburbs investment opportunity has been brought to market, with 123 Thomas Street, Subiaco WA now offered for sale via Expressions of Interest through Brett Willkins at RWC WA.
The prominently positioned freehold corner site, located opposite Kings Park, is fully leased to three established tenants and provides strong holding income alongside genuine long-term redevelopment potential. The property comprises 1,617sqm of net lettable area across three tenancies, situated on a 1,755sqm landholding.
The asset is currently leased to Vibe Fuel, MyCar and Euro Technik, all of which are specialised operators servicing consistent local demand.
RWC WA director of capital markets Brett Wilkins said opportunities of this calibre are exceptionally difficult to replicate in Subiaco.
“This is a rare inner western suburbs investment that combines strong immediate income with genuine long-term redevelopment upside,” Mr Wilkins said. “The scale, zoning flexibility and corner site positioning opposite Kings Park are exceptionally hard to find in Subiaco.”
Zoned Residential R60, the property offers a highly unusual blend of established commercial income with future residential development flexibility, creating multiple pathways for incoming buyers.
“The combination of Residential R60 zoning with existing commercial income is highly unusual and creates real optionality,” Mr Wilkins said. “It suits investors looking to hold and improve, landbank, or pursue a longer-term redevelopment strategy.”
The site has a long-standing history as a high-exposure service and automotive precinct, benefiting from strong passing traffic, established trade use and a loyal customer base drawn from the surrounding inner-western suburbs.
According to Mr Wilkins, buyer interest is expected from both local and interstate markets as well as Singapore.
“We’re anticipating strong interest from private investors, family offices and value-add syndicators seeking resilient cashflow today with future land value growth,” he said. “Subiaco remains one of Perth’s most tightly held inner-western markets, and opportunities of this scale rarely come to market.”
The property is being sold by a long-term local private investor capitalising on the strength of well-located inner-suburban land-backed investments.
Brett Wilkins
RWC WA
0478 611 168
brett.wilkins@raywhite.com
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