Unlock an exceptional opportunity with this rare 3,036m2 land parcel nestled in the heart of the New Bayswater Town Centre. Positioned as one of the most exciting prospects over the next five years, Bayswater is undergoing a transformative gentrification, presenting a once-in-a-lifetime investment opportunity. With property experts predicting significant growth and increased demand, these properties offer a perfect blend of convenience and potential.
Location and Lifestyle:
Discover the charm of Bayswater which is only 6 kilometres northeast of Perth's central business district. The property boasts proximity to the new Bayswater train station, major roadways, and upcoming upgrades, ensuring connectivity and convenience. The town centre is evolving with new bars, cafes, and restaurants, creating a vibrant community atmosphere. Families will appreciate the nearby schools, diverse real estate options, and recreational opportunities along the Swan River and in nearby parks.
Key Upgrades and Developments:
Highlighting the strategic MetroNet location, the property benefits from recent infrastructure upgrades, including the Midland Line, new Airport Link (open), and a new train line to Ellenbrook at the end of 2024. Anticipate trains every 3 minutes during peak times by 2025. The Bayswater Hotel upgrades and the broader area activation via MetroNet and the City of Bayswater add to the appeal.
Site Features:
Encompassing 3,036m2 across three titles, this property features three buildings with holding income. With a gentle slope from North to South, the site is ideal for an open-air car park. Only 250m from the new Bayswater train station, it offers a quick 11-minute commute to the city by train and a 15-minute drive. Proximity to Morley Galleria and Riverside Gardens further enhances the location's appeal.
Zoning and Development Potential:
Benefiting from DevelopmentWA planning controls, the property falls within the MetroNet East Bayswater Project Area - Core Sub Precinct. Zoned as RACO with mixed-use classification, it allows for up to 8 storeys, offering immense development potential and options. A discretion clause applies, providing flexibility in design.
Building Details:
The property includes three buildings with diverse uses, from a community hub to a lawyer's office. Tenants in place until March 31, 2024, with a 90-day termination notice, ensuring flexibility for redevelopment plans. The corner façade at zero lot is classified as a Category 4 heritage (low).
Current Rental Return:
Enjoy a solid current rental return of $65,127pa + GST + OUTGOINGS, providing immediate income potential.
Title Details:
16 - Lot 428 Plan 3403 Vol 1129 Folio 176
18 - Lot 429 Plan 3403 Vol 1034 Folio 787
20 - Lot 430 Plan 3403 Vol 869 Folio 184
Disclaimer:
While utmost care has been taken in preparing this property listing, prospective buyers are encouraged to conduct their own inquiries to ensure accuracy. Details provided do not constitute a representation by the Seller or the Seller's Agent and are expressly excluded from any contract. Seize this unique opportunity for growth and potential in the evolving heart of Bayswater.
