Freehold Part Leased Investment with Strong Value Add Potential

Retail Sold - BAYSWATER WA

– Outstanding Investment Opportunity with Value Add Potential
– Opposite soon to be complete brand new Bayswater Train Station
– 519sqm land parcel with rear access
– 324.60sqm* improvements
– Estimated Fully Leased Income of $110,000 pa
– Opportunity for multiple tenancies and income streams
– Zoned: Development WA (refer additional details below)
– Anchor Tenant – Trading as Australia Post
– Located within prominent retail strip with other operators including IGA.
– Public car park directly adjoining the property
– Outstanding surrounding public amenity

Burgess Rawson are pleased to present to the market for sale 85 Whatley Crescent, Bayswater. This fantastic freehold asset offers buyers an array of options and opportunities such as invest, part occupy or reposition entirely. The property is located opposite the soon to be complete brand new Bayswater Train Station. The property will benefit from thousands of commuters entering and exiting the station upon completion.

The property resides on a 518sqm freehold land parcel with improvements of circa 324.6sqm*. The current improvements comprise;

Shop 1
– 103sqm*
– Trading as Australia Post
– Leased until November 2026
– Income $35,070 pa

Shop 2
– 100sqm* vacant tenancy

Shop 3
– 121.60sqm* tenancy currently occupied by a bakery with $47,753 pa income

Total improvements estimated at 324.6sqm*

Zoning
The property is zoned ‘Development WA’ according to Development WA.
The subject site is within the Core Precinct under the Metronet East Redevelopment Scheme.
Under the Metronet East Bayswater Design Guidelines the site falls within the King William Street Sub- precinct and within the Main street Zone.
In relation to the land use permissibility the site can accommodate a range of uses from Residential to Commercial.
Refer to below link for additional details and preferred land uses.

https://developmentwa.com.au/documents/1582-metronet-east-bayswater-project-area-design-guidelines/viewdocument/1582

Offers Invited in the mid $1mils

For further information please contact the exclusive selling agent Luke Randazzo on 0417 181 309.