An opportunity exists to acquire a substantial fringe CBD development site of 4,882sqm. The property has prominent exposure with 4 street frontages and is strategically located in close proximity to CBD, Royal Perth Hospital, major highways and public transport networks.Property features include:- 2,526sqm* Gross Lettable Area- 2208sqm* vacant ex-Office Works suitable for a wide variety of uses- 318sqm* long lease to MyCar with redevelopment clause - 4,882sqm Land Area- 60 car bays (59 open bays, 1 disability bay)Potential passing net income: $761,464*The property could yield up to 12,205sqm based on a 2.5: 1.0 plot ratio. DA approval was obtained 2 February 2016 for the development of a 10-level mixed used development containing 214.Prominently situated on the north east corner of Lord and Wittenoom Street, East Perth. The location is approximately 1km east of the Perth GPO (central Perth) and 1km north of the Swan River foreshore. The property is easily accessible to Freeway systems and public transport including rail, bus and CAT services and surrounded by and abundance of public parking.Surrounding land use comprises a vibrant mix of apartment developments, offices, retail, restaurants, community uses and educational establishments. For Sale by Expressions of InterestFor further information or to arrange an inspection, please contact the Agents:Luke PavlosRay White Commercial (WA)M: 0408 823 823E: luke.pavlos@raywhite.comBrett WilkinsRay White Commercial (WA)M: 0478 611 168E: brett.wilkins@raywhite.com* approximate
The size of East Perth is approximately 3.2 square kilometres. It has 21 parks covering nearly 33.5% of total area. The population of East Perth in 2011 was 8,184 people. By 2016 the population was 10,598 showing a population growth of 29.5% in the area during that time. The predominant age group in East Perth is 20-29 years. Households in East Perth are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in East Perth work in a professional occupation. In 2011, 37.8% of the homes in East Perth were owner-occupied compared with 37.6% in 2016.
East Perth has 8,401 properties.
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