Knight Frank are pleased to present for sale 10 William Street, Perth. A functional 6-storey office building offering a net lettable area of 4,248 sqm* with 30 secure open car bays at the rear. Positioned on 1,561 sqm of prime underdeveloped CBD land, the building enjoys high street exposure and dual access from both William Street and Howards Lane to the rear.
The building has undergone significant base building upgrades amounting to over $2.5m, enhancing efficiency and transforming it into a modern building, future proofing the asset with prospective buyers benefitting from minimal capital expenditure outlay in the short-medium term.
With 24% of the building currently vacant and the potential for up to 74% vacancy by the end of 2023, the property offers a prime opportunity for an incoming owner to embark on a successful refurbishment and leasing campaign or owner occupation.
Through strategic refurbishment and leasing efforts, the property can achieve true value-add returns, enhancing market appeal, total returns and increasing book value.
Investment Highlights
Core CBD location
Net lettable area of 4,248 sqm* with 30 secure open car bays
Potential fully leased income $2,042,164 pa*
Attractive balance between holding income and repositioning potential.
4-Star NABERS Energy Rating
Classroom 9B Certification on majority of floors
Underdeveloped site area of 1,561 sqm with huge development potential
Minimal base building capital expenditure in the short-to-medium term
For sale by 'Expressions of Interest'. For further information, please contact the exclusive selling agents:
Tony Delich
0418 926 410
Tony.delich@au.knightfrank.com
Zach Schreier
0452 071 037
Zach.schreier@au.knightfrank.com
*Approx
