INVESTORS have an outstanding opportunity to purchase a blue-chip commercial asset as 2 Page Road in Kelmscott hits the market by way of offers to purchase.
The property, that was completed late in 2020, comes with a 1,552sq m* building size on 4,470sq m* of land and offers a WALE of approximately 11 and a half years.
The asset is being marketed and sold by Ray White Commercial (WA) Senior Property Advisor Brett Wilkins and BPG Australia Managing Director Jeff Braddock.
“With an initial net income of $514,000 per annum, hosting Cuddles Childcare and the popular Revo Fitness Gym on long-term leases, this blue-chip investment offers tenant security with an overall WALE of 11.5 years with fixed rental growth and lots of potential,” Mr Wilkins said.
“Reinforcing the secure tenancy nature of this opportunity is the strong economic drivers of Western Australia in general, which is clearly the stand-out state economy post the onset of the COVID-19 pandemic.
“This is complemented by the growth history and forecasts for the broader Armadale area, which is currently ranked in the 95th percentile within Australia.
“The property is split into three units providing health and leisure, food and beverage, and essential childcare services.”
“Occupying a prime corner at the intersection of Albany Highway and Page Road, the property represents a superb chance to attain a secure income stream with fixed rental increases from an asset that services an established and rapidly growing demographic,” Mr Braddock said.
“From a connectivity standpoint, 2 Page Road is well-placed as a direct throughway to Perth’s centre via a range of transport links, including the Kelmscott train station adjacent to the site.
“The asset is also within close proximity to a number of major retail outlets with Woolworths a few hundred metres away, Dan Murphy’s and Stargate Shopping Centre opposite, and Coles and IGA X-Press within a short walking distance.”
The asset is for sale via offers to purchase closing at 4pm (AWST) on Thursday 22 April 2021.