The commercial strata shop is located on the ground floor of Queens Riverside and is leased on a 5-year term to a retail tenant operating a busy beauty & wellness business. The tenant operates a well sought after eyelash business with an average of 4.9-star ratings on Google from close to 100 reviews.
Key terms of the current lease are:
- Area: 90 sqm
- Term: 5 years starting on 1st Sept 2023
- Net Rent: $31,500 per annum +GST
- Rent Reviews: Fixed 3% per annum.
- Guarantees: 3 months gross rent plus Directors Guarantee
Queens Riverside is a recently completed mixed-use high-rise development located at the gateway to Perth's CBD. Consisting of over 500 residential and 200 hotel rooms, the development sits at the entrance to Perth over the causeway which provides it exposure to over 17,000 cars passing through daily.
The property is also surrounded by prominent landmarks such as the WACA and the Queens Gardens. Additional planned developments including the East Perth Girls School, the East Perth Sports & Recreation Hub, the $165m WACA redevelopment project in addition to the $60m Gloucester Park revitalization program and exciting new residential developments in East Perth are expected to add further demand to the area.
