71 Norma Rd Myaree WA 6154
- Development / Land
- 5,459 m²
Secure Blue Chip Leased Investment with WA Government Tenant.
Unique site with very solid income scope to develop or reconfigure to future tenant requirements.
This substantial prominent corner site is currently undergoing sub division to separate from the original parent title of circa 16,500sqm.
The subdivision is expected to be complete by the end of January 2019 with Titles to be issued by March 2019. This offers the buyer the opportunity to secure this property with an extended settlement period to early 2019.
The subdivision will create a corner landholding to Marmion Street and Norma Road of 5459sqm.
On this parcel of land is a modern style building with a 2024sqm floor area fully leased to a single tenant.
The tenant is the south metropolitan headquarters of the Disabilities Services - Western Australian Government Agency.
New 6 year lease commenced on 1 December 2017 with option to extend.
The subdivision is expected to be complete by the end of 2018 which offers the buyer the opportunity to secure this property with an extended settlement period to early 2019.
Further to this guilt edge opportunity is the possibility of buying the adjacent Lot facing Marmion Street of 2721sqm. This combined would provide a massive corner site of 8180sqm ripe for future redevelopment.
The leased buildings will provide a very comfortable income while you plan the future redevelopment.
Under the current town planning scheme (TPS No 6) established in May 2016 the property is zoned Service Commercial which allows a plot ratio of 1 and a building height standard of 13.5 Metres overall.
Note the definitions have been extracted from the City Of Melville Town Planning Scheme and any interested party should make their own enquires to the City of Melville to satisfy themselves of current and potential permitted use and potential for redevelopment.
Located on busy intersection in the Myaree/ Booragoon business precinct just a short 2 kms down Marmion Street from the Booragoon Garden City Shopping and Business Complex due to undergo a $750 Million Dollar revamp to increase its capacity by 50%.
Only 16kms South of the Perth CBD and 9kms East of the busy Fremantle port this jewel in the Southern Suburbs should be your next investment opportunity.
More specific information on the property and the lease details can be provided to interested parties.
Call me today to discuss this rare opportunity and express your interest.
Torrin Minutillo - 0417 171 164
or email me from this page.
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