Cygnet West in conjunction with Axia Property are pleased to present 63 James Street, Northbridge, For Sale by Public Auction.
The property is located in the heart of the action, on the main street of Northbridge, James Street. This location, highly desirable to tenants, is surrounded by other eateries, pubs, nightclubs and entertainment venues.
The property has been held in one ownership for in excess of 20 years, hence the sale of the property offers a once in a lifetime opportunity.
INVESTMENT HIGHLIGHTS:
Fully leased freehold property
182sqm land area
9m of frontage to James Street
Located within Western Australia's premier entertainment and hospitality precinct
Located on the main street in Northbridge
200m to proposed ECU campus
The property is strategically located in proximity to the intersection of James and William Streets, providing a huge number of pedestrian thoroughfare day and night.
ZONING
The City of Perth advises that the property is zoned "City Centre" Precinct 1 Northbridge which allows for a variety of uses. The height limit on the redevelopment is currently 33 metres with a plot ratio of 4.0:1.0. Proponents must undertake their own due diligence with relevant authorities as to the zoning and development potential.
TENANCY
The property is leased to a Japanese restaurant, trading as "Kobe Teppanyaki", with the tenant having been in occupation since 2020. The current lease term expires on 31 October 2025 with a 2-year option.
Current Net Rental is $92,250 p.a. with the tenant paying outgoings.
Further tenancy information and lease details can be provided upon request.
SALE PROCESS AND AUCTION DETAILS
The property is to be sold by Public Auction on 30th November 2022 to be held in the Jarrah Room of the Double Tree Hilton, 100 James Street, Northbridge, commencing at 10.30am.
For further information on this exceptional offering, and a copy of the Information Memorandum, please contact the joint selling agents.
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