Fully Leased Freehold Asset in Premium Fremantle Location

Offices Sold - FREMANTLE WA

Burgess Rawson is pleased to present to the market for sale, 3 Norfolk Street, Fremantle. This fully leased 3 level freehold asset presents investors, future developers and future owner occupiers the opportunity to purchase a substantial piece of Fremantle real estate just metres from the Esplanade. The building has a favourable mix of tenants with a total net income of $256,904.56 pa. The property enjoys 32 onsite secure parking bays for staff.

Key Features include;

+ Substantial Fully Leased 3 Level Building
+ Large 1,691sqm parcel of land
+ 1,218sqm of net lettable area
+ Net income of $256.904.56 pa
+ 32 secure onsite parking bays
+ 5.5 star Nabers rating
+ Premium Fremantle location within metres of the Esplanade
+ Strong future development upside
+ Zoned ‘Mixed Use’
+ Not state heritage listed
+ Optic fibre to office
+ Fully network cabled for computer and phones

The property resides in an outstanding Fremantle position with excellent accessibility to the epic-centre of the Fremantle town centre and Esplanade.

The property is just;

– 200 metres* from Esplanade Park
– 240 metres* to popular South Terrace
– 550 metres* to the intersection of Market St & High St
– 300 metres* to Fremantle Oval
– 650 metres* to Bathers Beach
– 1.2km* from Fremantle Port Victoria Quay Berth (Rottnest Ferries)

Zoning
The property is zoned ‘Mixed Use – R35’ according to the City of Fremantle Local Planning Scheme No.4 Scheme.

For additional information around the planning scheme and permissible uses please request a copy of the Information Memorandum from the selling agents.

Tenant Profiles
The property has a diverse tenant mix, leased to 6 tenants in a range of different industries including;

– Real Estate
– Defence
– Transport & Logistics
– Maritime Construction
– Law Office
– Aquatics

Income
The asset is fully leased with a net income of $256,904.56 pa. For a full break down of the income and the tenancy schedule please request from selling agents.

Heritage
The property is not listed on the State Heritage list affording future developers the opportunity to capitalise on the full land size without having to work around heritage implications.

The ‘Statement of Significance’ suggests states “This property has historical interest only as the location of a new demolished heritage place. The existing development on the site has little significance.’

The site is listed on the Municipal Inventory List as ‘Historical Record Only.’

Buyers are encouraged to make their own enquiries.

Nabers Rating
The property benefits from a 5.5 star Nabers Rating. The certificate can be found in the Information Memorandum.

Legal Description
Described as Lot 5 on Diagram 26174 Volume 1290 Folio 137

For further information please contact the exclusive sales agents Luke Randazzo on 0417 181 309.