Cygnet West are pleased to present to the market a compelling office investment with outstanding development potential.
43-47 Burswood Road combines a strong income profile, an in-demand near city location, value add potential and multiple exit strategies.
The majority of the asset is leased to Programmed, who have been in the building for many years and have recently renewed their term in the building.
The vendor has obtained development approval for a large-scale mixed-use building with 186 apartments that will enjoy park, river and city views.
Key Features include: - Four-level modern office accommodation with circa 940sqm floor plates, high ceilings and natural light; - 80% of income underpinned by high-quality longstanding tenant, Programmed, who have recently extended their lease to April 2027. - Net income of approximately $1,556,245 per annum. - 82 car bays on-site (1 per 54sqm of NLA) and ample parking surrounding the property. - Strong ESG story with 5 Star NABERS Energy Rating. - 4,666sqm landholding with future residential or BTR potential surrounded by parklands. - Development Approval in place for 24,757sqm of GFA over 21 levels, which will benefit from views of the Swan River and the CBD skyline.
For more information, please contact our exclusive sales agents below.