Fully-tenanted Bindoon icon hits the market

EXPRESSIONS of interest are being sought for a commercial asset that is somewhat of a landmark for the Shire of Chittering at 27 Binda Place in Bindoon.

The asset, that comes with a 785sq m* net lettable area and 1,252sq m* land area, is fully tenanted with a 5.3-year W.A.L.E.

The property is being marketed and sold by Ray White Commercial (WA) Director Stephen Harrison.

Mr Harrison said the prominent location and the reliable long-term tenants in place would be real drawcards for potential buyers.

“The property is anchored by the Bindoon Bakehaus, a well-known and popular rest stop for locals, day trippers and travelers,” he said.

“This is complemented by a long-standing dentist and real estate agency. All tenants have tenanted the premises for many years, have just renewed leases, and have an immaculate payment history.

“The building was only built 10 years ago and benefits from a modern design, producing $192,476 p.a. net passing income.

“Bindoon sits just outside the Perth metropolitan area and is the main commercial centre for the Shire of Chittering.

“The premises neighbours the local pharmacy and shares the compact town centre with the Shire of Chittering Council, the offices of the regional parliamentary representative, the new Mitre 10, the new IGA, Caltex and other conveniences.

“Bindoon is the last stop and nearest convenience for travelers to, and residents of, the Wheatbelt region.

“It has experienced over the last 15 years an average annual population growth of 4.2* per cent, roughly two per cent above the regional average.

“This is largely due to its close proximity to the Perth metropolitan area, making it feasible for residents to commute to Perth for work.

“Current ongoing road upgrades will make the commute faster and easier, further boosting the local population.”

Expressions of interest close on Monday 24 June 2019 at 5pm (AWST).

*Approximately.