• Prominent Corner Location (Opp. Dan Murphy's)
• Completed June 2020 - Depreciation Benefits
• Approx. 11.5 Years WALE with Fixed Growth
• Strong Initial Income: $500k+ pa net
LOCATED IN ONE OF THE FASTEST GROWING AREAS IN AUSTRALIA
2 Page Road is a 2020 completed commercial asset, located in one of the fastest growing areas in Australia, almost fully leased at the time of practical completion. Occupying a prime corner at the intersection of Page Road and Albany Highway, the property represents a unique opportunity to attain a secure income stream with fixed rental escalators from an asset that services an established and rapidly growing demographic. With an initial net income of $514,000 pa hosting Cuddles Childcare and the popular Revo Fitness Gym on long term leases, this investment offers tenant security with an overall WALE of 11.5 years with fixed growth and potential.
The 1,552 sqm (NLA) asset comprises a multi tenanted single storey building hosting 3 separate yet complementary commercial uses upon a 4,470 sqm land parcel. Completed in June 2020 the property boasts generous exposure to its surrounding area, with 49 metres of direct frontage onto Albany Highway and a further 84 metres of dual aspect onto Page Road.
WHY PERTH?
• Best economic conditions and lowest Covid - 19 impacts in the nation
• Outperforming all states across total income and latest economic growth figures
• Strongest labour force data in Australia
WHY KELMSCOTT?
• Located in Perth's rapidly growing Armadale area
• Population growth of 79% between 2006 and the latest figures for 2019
• Forecast growth of another 60% by 2041
WHY 2 PAGE ROAD?
• Strong tenant covenants on long WALE with fixed growth
• Prominent setting within a tightly held commercial precinct
• Tenancies linked to the fastest growing sectors of Perth's economy
TENANTS
• Revo Fitness
• Cuddles Child Care
• Cafe / Restaurant / Medical (Currently Vacant
TITLE DETAILS
Lot 11 on Diagram 70025. Certificate of Title Volume 1730 Folio 159..
ZONING
'District Centre' under the City of Armadale Town Planning Scheme No. 4.
SALE
Asking Price $7,995,000 ("Going Concern").
CONTACT
For an Information Memorandum, or an inspection by appointment only, please contact:
JEFF BRADDOCK
0412 934 694 OR JBRADDOCK@BPGA.COM.AU
