103 Welshpool Road Welshpool, WA 6106
3.19ha (7.88 acres)
AUSTRALIA’S SOUTHERN CROSS PORTFOLIO – 5 ASSETS IN 4 STATES
103 Welshpool Road, Welshpool, WA, Australia
JLL are pleased to offer the opportunity to acquire 103 Welshpool Road, Welshpool, WA as part of The Southern Cross Portfolio.
The property provides a strategic land bank opportunity underpinned by its significant underlying land value and strong triple net lease covenant expiring April 2028 to Milne AgriGroup Pty Ltd, one of Western Australia’s largest integrated agribusiness groups. The asset also benefits from its strategic location within Perth with approx. 230 metres of street frontage to both Leach Highway and Welshpool Road.
Key investment highlights include:
- Strategic land bank of 3.2HA in a land constrained location with flexible underlying zoning
- Fully leased to recognised tenant Milne Feeds providing a WALE of 8.7 years (as at Sept-19)
- Fixed annual 3.25% rental increases
- Rental income of $1,758,160* p.a. net
- The lease is structured on a triple net basis with the tenant responsible for all outgoings and repairs/maintenance of a structural nature providing landlord security
- Corner site boasting 230* metres street frontage to both Leach Highway and Welshpool Road
- Located on one of Perth’s busiest intersections with strategic benefits for future “higher and better use” opportunities (STCA)
- Fast and efficient access to major arterials including Welshpool Road and Leach, Roe and Tonkin Highways
- Close proximity to Kewdale Freight Terminal and Perth Airport precinct
- High underlying land value underpins the asset
- High profile location and long standing occupation by Milne Feeds makes this asset one of Perth’s most recognised corner sites.
- Circa 75,000 vehicles pass the site daily along Leach Highway and Welshpool Road
Property ID: 503190826Last Updated: 21 Jun 2019