8 Playle Street Myaree WA 6154
- Development / Land
- 9,846 m²
- For Sale, $5,900,000 Plus GST
The Value Stacks Up Whichever Way You Look At This Hidden Jewell in the Heart of Myaree.
The most valuable commodity on the face of the planet is the 'opportunity to make money' This property offers this in spades so take the time now to review.
This property offers a wide variety of development opportunities either as a land subdivision or building a strata title complex which you could sell or lease or a combination of both.
Having previously been marketed at a significantly higher price, this property now offers the buyer an opportunity to strike at the right time and to capitalize on the opportunity to make money in this sort after location.
A feasibility has been prepared to show how a development can be achieved on this lot to maximize the benefit of this location, zoning and investment opportunity. A schematic plan and a full budget of income and expenditure can be obtained in a private conversation.
This feasibility shows a possible 35% - 40% return on investment.
Here are the 3 things I want you to think about at this point.
1. Price to purchase is now below $600 per meter in the heart of Myaree
2. Potential to make 35% - 40% return on investment with an opportunity to build more than $4 million in equity. Feasibility available for review and discussion
3. Current market conditions - now making this a very astute time to purchase.
This could be the last time ever to buy land in Myaree at this value for money rate per square meter.
The site is predominately rectangle in shape, flat and easy to work with.
A frontage of 67.8 meters to Playle Street and a depth of approximately 146 meters.
The landholding is currently complemented with a substantial building of 2635sqm. The factory warehouse includes approx 230sqm of office and staff amenities. The approx 2400sqm warehouse has an internal minimum height of 8 meters with a 6 meters high travelling crane which will require servicing.
The building although aged and a little tired can be refurbished to create some real value over and above the current land value. Based on the current asking price this building is essentially free with the landholding.
The property could be adapted in the short term to a logistics centre with massive hardstand and warehousing space while the long term objective would be to redevelop sometime in the future.
Alternatively, you could remove the current buildings and redevelop with a clean slate in this unique location now.
Located in a well established precinct of Myaree industrial Zone this property is ripe for the picking.... just a short 2 kms from the Booragoon Garden City Shopping and Business Complex which is 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 hidden jewel in the Myaree precinct could be your best opportunity to make money in the current property cycle.
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.
For further information and to discuss this rare opportunity and express your interest please call me today.
Torrin Minutillo - 0417 171 164 or email me from this page.
Looking for the most trusted opinion to Lease or Sell your property - give me a call. We are experienced and keen to look after your property interests
|Floor Area||9,846 m²|
|Land Area||9,846 m²|
|Annual Return||Ask Agent|
|Last updated||22 May 2019|