Knight Frank, as exclusive selling agents, are delighted to offer for sale via an Expressions of Interest campaign, 66 Kings Park Road, West Perth.
66 Kings Park Road is a multi-tenanted office building located at the western end of the prestigious Kings Park Road, adjacent to Perths landmark Kings Park and Botanic Garden. Constructed in 1989, the building has recently received a comprehensive
$6,500,000 refurbishment. This 6-storey office building provides a diverse income stream across 12 tenants with potential development upside.
INVESTMENT HIGHLIGHTS
- Fully leased across 12 tenants with a weighted average lease expiry of 4 years by income (as at 31 December 2019)
- Comprehensive $6,500,000 refurbishment program addressed every aspect of the building including electrical and mechanical infrastructure, vertical transport, security systems, lobbies, bathrooms, end-of-trip facilities and amenity deck
- Total passing income of $2,185,000* as at 31 December 2019
- Property Council of Australia A-Grade Classification
- Projected 3.5 Star NABERS Energy Rating
- Development opportunity for 1,970 sqm of residential / special residential (STCA)**
- Located opposite Perths landmark Kings Park and Botanic Garden
The 100% freehold interest is offered via an Expressions of Interest Campaign, closing at 4pm Australian Eastern Standard Time (AEST) on 7 November 2019.
*Approx
*Subject to Council Approval (STCA)
