West Perth Service Station Investment for Sale
A service station investment with redevelopment upside in the commercial precinct of West Perth is being exclusively offered for sale by Ray White Commercial (WA).
The 1,277 sqm corner lot at 309-311 Fitzgerald Street, West Perth, is being marketed via Expressions of Interest by Ray White Commercial WA’s Stephen Harrison and Brett Wilkins.
Stephen Harrison said the service station leased to Puma Energy offers significant future development opportunities upon the current lease expiry in June, 2025.
“The development standards within the ‘Precinct 12 Hyde Park’ zoning for this property allows for a building maximum of up to four storeys,” he said.
Brett Wilkins said the property is currently generating net rental income of approximately $258,750 per annum with 3.5 per cent annual rent increases.
“This property in a prominent West Perth location offers a tremendous investment opportunity with the potential for major development options in the future,” he said.
“The asset is in the commercial precinct of West Perth, on the corner of Vincent Street, Fitzgerald Street and Eden Street, approximately 2km west of the Perth GPO.”
Expressions of Interest close at 5pm (AWST) on Wednesday, October 4, 2017.