The offering presents a quality 'freehold' office asset in a fringe CBD location, providing a secure income stream with growth potential and development upside.
This immaculately presented office is located in Burswood, a burgeoning growth precinct on the doorstep of the Perth CBD.
KEY ATTRIBUTES
• Prime Fringe City Location - 3km east of CBD
• Net Passing Income $52,500 per annum with Growth Upside
• Repositioning/Value-Add Opportunity
• 'Flexible' Zoning Offering Development Potential
• Quality Office Improvements - NLA 375sqm
• Land Area 622sqm
THE PROPERTY
Comprises a single level office building with an attractive rendered façade, being of brick wall and iron roof cover construction. Internally, the space provides a functional combination of office/training rooms that present to an excellent standard.
The property benefits from an excellent parking ratio, with nine off-street bays along with ample street parking.
DEVELOPMENT OPPORTUNITY
Zoned "Office/Residential" under the Town of Victoria Park Town Planning Scheme No.1, and more specifically, within the "Causeway Precinct", offering a flexible range of commercial, high density residential and mixed-use development opportunities (STCA).
Development in within the precinct is guided by Local Planning Policy 22 - Development Standards for Causeway Precinct, which provides for the following controls;
• Density Code: R160
• Maximum Plot Ratio: 3
• Maximum Building Heights: 6 storeys (22.5m)
• Min Street Setback: Nil (above 3 storeys: 8m to the street and 4m to laneways)
LEASE SUMMARY
Tenant: ICTouch
Net Passing Income: $52,500 pa
Expiry: 11 July 2025
Reviews: CPI
