A fully-leased showroom and bulky goods complex has sold to an eastern states investor for $5.75 million.
Located at 68-70 Beechboro Road, Bayswater, the 5,504sqm site comprises a 2,427sqm building with four tenancies, and was sold with a 5.7 per cent yield and a 3.5 year WALE.
The property was marketed by Ray White Commercial WA agents Tom Jones and Lachlan Burrows on behalf of a local investor who developed the property in 2015.
“The complex provided a rare opportunity to secure a prominently positioned, fully-leased, showroom/bulky goods complex with diversified income,” Mr Jones said.
“It includes a range of tenant profiles, both local and multinational, including Plus Fitness and Lollipops Playland.
“There’s also potential to re-negotiate in early 2023 to increase the buyer’s return on investment.”
Mr Burrows said the property’s location at the Bayswater Industrial Estate was also a drawcard.
“The Bayswater Industrial Estate has become a significant business and industrial hub,” he said.
“There is low vacancy with considerable demand due to the improved connectivity to the area, including the Tonkin Highway and Current Metronet upgrade.”