71 Norma RoadMyaree WA 6154
Property Details for 71 Norma Rd, Myaree
Last Listing description (February 2022)
Unique site with very solid income scope to develop or reconfigure to future tenant requirements.
This substantial prominent corner site is currently undergoing sub division to separate from the original parent title of circa 16,500sqm.
The subdivision is expected to be complete by the end of January 2019 with Titles to be issued by March 2019. This offers the buyer the opportunity to secure this property with an extended settlement period to early 2019.
The subdivision will create a corner landholding to Marmion Street and Norma Road of 5459sqm.
On this parcel of land is a modern style building with a 2024sqm floor area fully leased to a single tenant.
The tenant is the south metropolitan headquarters of the Disabilities Services - Western Australian Government Agency.
New 6 year lease commenced on 1 December 2017 with option to extend.
The subdivision is expected to be complete by the end of 2018 which offers the buyer the opportunity to secure this property with an extended settlement period to early 2019.
Further to this guilt edge opportunity is the possibility of buying the adjacent Lot facing Marmion Street of 2721sqm. This combined would provide a massive corner site of 8180sqm ripe for future redevelopment.
The leased buildings will provide a very comfortable income while you plan the future redevelopment.
Under the current town planning scheme (TPS No 6) established in May 2016 the property is zoned Service Commercial which allows a plot ratio of 1 and a building height standard of 13.5 Metres overall.
Note the definitions have been extracted from the City Of Melville Town Planning Scheme and any interested party should make their own enquires to the City of Melville to satisfy themselves of current and potential permitted use and potential for redevelopment.
Located on busy intersection in the Myaree/ Booragoon business precinct just a short 2 kms down Marmion Street from the Booragoon Garden City Shopping and Business Complex due to undergo a $750 Million Dollar revamp to increase its capacity by 50%.
Only 16kms South of the Perth CBD and 9kms East of the busy Fremantle port this jewel in the Southern Suburbs should be your next investment opportunity.
More specific information on the property and the lease details can be provided to interested parties.
Call me today to discuss this rare opportunity and express your interest.
Torrin Minutillo - 0417 171 164
or email me from this page.
Looking for the most trusted opinion to Lease or Sell your property - give me a call. We are keen for new business.
Property History for 71 Norma Rd, Myaree, WA 6154
- 06 Apr 2020Listed for Sale Expression of Interest
- 28 Feb 2020Sold for $15,000,000
- 26 Jun 2018Listed for Sale Expression of Interest
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0About Myaree 6154
The size of Myaree is approximately 1.3 square kilometres. It has 10 parks covering nearly 7.4% of total area. The population of Myaree in 2016 was 1945 people. By 2021 the population was 2105 showing a population growth of 8.2% in the area during that time. The predominant age group in Myaree is 40-49 years. Households in Myaree are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Myaree work in a professional occupation.In 2021, 76.80% of the homes in Myaree were owner-occupied compared with 73.50% in 2016.
Myaree has 1,437 properties. Over the last 5 years, Houses in Myaree have seen a 107.58% increase in median value, while Units have seen a 79.70% increase. As at 31 December 2025:
- The median value for Houses in Myaree is $1,511,227 while the median value for Units is $663,348.
- Houses have a median rent of $820 while Units have a median rent of $400.
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