190 The Esplanade Scarborough, WA 6019
Closing Date - Offers by 31 July
Tenanted Investment Details
Landmark High Yield Investment
- Anchor Lease to 2025
- Established Cafe/Restaurant Tenant
- Planned Growth Area
This premium leased investment property is tenanted by the well known Wild Fig Cafe and commands a rare beachfront corner location fronting west towards the Indian Ocean, taking in both Scarborough and Brighton beaches.
• Prime beachfront location in the heart of Scarborough
• Well known tenant The Wild Fig Cafe trading approx 8 years
• Long lease to 9 August 2025 with a 10 year option
• Impressive current net rental of $319,040 pa plus VO & GST
• Recent $100 mil upgrades to local area infrastructure
• Exciting and flexible "Esplanade Precinct" MRA planning area
• Future population density and growth potential
Key property details;
• Strata area of 395 sqm
• Lettable area of 419 sqm* (including internal and exclusive use areas)
• Internal floor area of 323 sqm designed and fitted for cafe/restaurant use
• Alfresco area of 66 sqm and storeroom of 30 sqm (exclusive use)
• Additional M/F amenities and internal service corridor access (joint exclusive use)
• 5 secure undercover car bays on the strata plan (3 leased to Quest Apartments)
• Ample additional visitor parking opposite offering convenient access to the premises
• Development constructed in 2010
Situated just 15km* from the Perth CBD and located in the exciting and flexible Esplanade Precinct of the MRA Scarborough Redevelopment Area, the property has benefited from a recent investment by State and Local Governments of approximately 100 million dollars including public open spaces, surf club, beach pool and entertainment areas, all designed to vitalise Scarborough's amenity and further encourage local, interstate and overseas tourism and investment.
A detailed information memorandum is available on request by contacting exclusive selling agent David Lightfoot.
Notice: this information is provided for marketing purposes only and potential buyers are advised to make their own due diligence inquiries prior to submitting an offer.
Property ID: 503209554Last Updated: 16 Jul 2019