A large development site in a prime Perth CBD location has come onto the market, providing a fantastic opportunity for investors, developers or owner-occupiers
Once home to the vendor and WA institution Pilpel Printing, the 1523sqm site, located at 148-150 Beaufort Street, is currently leased until August 2022 by Aus Top Direct with an option to extend.
The vendor is Pilpel Printing which was a WA institution for many years. The property has been held by the vendors for more than 30 years.
Ray White Commercial WA agent Brett Wilkins said the property was a significant strategic land holding in Perth’s rapidly developing Cultural Precinct with a functional office/ warehouse suitable for owner occupation or holding investment.
“The property is a prominent development site with holding income from an existing tenant, or the existing buildings would be suitable for either an owner occupier or re-let for a variety of potential uses,” Mr Wilkins said.
“The warehouses are very functional with truss highs from 4.5 – 8m and good first level office accommodation”
Lease Equity agent Luke Pavlos said Beaufort Street is a major entry point into the Perth CBD with over 12,000 car passing per day.
“The locality has undergone vast improvement in recent years with developments such as the WA Museum, Oracle Apartments and the Student Housing Company adding significant density,” Mr Pavlos said.
“The LeadLight Hotel is also currently under construction which will add a brewery and further accommodation upon completion, and the recently completed Woolworths on Bulwer Street adds to the overall amenity of the loactity to support inner city living.
Mr Pavlos said the commitment of ECU to Perth CBD in 2025 will see further revitalisation of Beaufort Street with additional accommodation, hospitality and retail given its proximity to Kings square, the Cultural Centre, WA Museum, and the TAFE.
“It’s highly accessible to public transport with the Perth train station just 350m south and the Blue CAT bus service stopping nearby.”
The site is for sale via expressions of interest, closing at 5pm on October 14.
