OCEAN FRONT LAND HOLDING WITH STRONG INCOME AND DEVELOPMENT POTENTIAL
Sweeping views to Rottnest Island
11,854 square metre landholding
North Beach Shopping Centre and its huge 11,854 square metre landholding is an absolutely rare and unprecedented opportunity to secure an oceanfront foothold that will be irreplaceable for generations to come. The North Beach Shopping Centre is fully tenanted and popular with local residents and beachgoers alike. The property offers multiple opportunities:-
- Hold and enjoy the substantial rental income while land banking oceanfront real estate will always appreciate in value quicker than the general market.
- Undertake an immediate Mixed Use redevelopment combining shopping centre and medium density upper market residential apartments taking advantage of both the property's popular retail appeal and sweeping ocean views.
- Utilise surplus land and expand the existing centre - there is substantial opportunity for income improvement.
There are 17 tenancies in total, comprising a net lettable area of 4,198.07 square metres. There is on site parking both open and decked for approximately 230 vehicles. Key Leases are to the Farmer Jack's Supermarket, Thirsty Camel Liquor Store, North Beach Pharmacy/Newsagency, Peak Body Health and Fitness and Soda Sun Lounge. All tenancies have been purposefully restricted to relatively short term Leases allowing for future redevelopment.
The property is being offered exclusively to recognised Developers and Investors able to undertake a purchase of this nature. Your Expression of Interest is invited and should be lodged formally with either of the appointed agents by no later than close of business Monday 22nd November 2021.
