Absolute Prime Corner Location!

A very unique opportunity to acquire a rare piece of Commercial Property in a prime location! This huge corner site of 999sqm offers great current commercial rental return and future development potential.

Set amongst the action and activity of the Albany Hwy East Vic Park Café and Business strip location. Surrounded by retail, small businesses and restaurants.

Currently the property consists of approximate 700sqm of commercial office tenancy. Parking on site for 10 cars undercover of which 5 bays are allocated to each of the 2 tenants.

Tenant 1 - United Finance
- Occupies 400sqm paying $102,000p.a. + GST + outs
- Car Bays = $2,000 per bay p.a. x 5 bays = $10,000.00

Tenant 2 - Retirees WA Inc
- Occupies 400sqm paying $75,000p.a. + GST + outs
- Car Bays = $2,000 per bay p.a. x 5 bays = $10,000.00

Total income generated is $197,000 + outs + GST.

Construction of the property is such to allow for a 2nd storey.

The Commercial property has recently had communal bathrooms refurbished in modern white fixtures and fittings and presents very well. New air conditioning was installed approx. 5 years ago.

This level high exposure corner site of 999 sqm is zoned R80 building code featuring a mixed zoning of Residential and Commercial development with capacity to build approx. 12 apartments (S.T.C.A.) on a 3 level development involving commercial tenancy on the ground floor of approximately 30% of total build area based on a 1.1 plot ratio of total development area.

This location features all facilities of at your doorstep such as shopping, café/restaurants and transport.

Asking price in early $3,000,000's provides sound buying for this limited availability of prime site locations to purchase at today's values.

Excellent current return on investment.

Please direct all enquiries to Albert Fontana today.