71 Lake StreetNorthbridge WA 6003
Property Details for 71 Lake St, Northbridge
Last Listing description (May 2023)
+ Leased freehold investment
+ Land area 334sqm
+ Tightly held Northbridge location
+ Secure tenant with good holding income
Introduction
Burgess Rawson is pleased to offer for sale 71-73 Lake Street, Northbridge for the first time in 42 years. The property is suited to an investor seeking an excellent investment opportunity in the heart of Northbridge.
Improvements
The property comprises a single level brick and iron premises currently leased as a Korean BBQ restaurant until 28 February 2023 with a further option to 29 February 2028. The internal fit out has an industrial feel, there are two separate dining spaces, a serving area/counter, male and female toilets and a large kitchen facility with easy access for deliveries off a rear right of way.
Location
The property is situated in a tightly held location of Northbridge. On your doorstep is the vibrant Northbridge Entertainment Precinct and within walking distance to the Perth CBD.
Legal Description
Lot 3 & 4 on Plan 869 Certificate of Title Volume 1134 Folio 992.
Land Details
Land Area 334sqm
Frontage 12.19 metres*
Depth 27.52 metres*
Zoning
The land is zoned 'City Centre' with a Plot Ratio of 4:1 under the City of Perth Town Planning Scheme. Refer Selling Agent for further details.
Tenancy Details
The property currently has a net income of $90,561 pa + GST to a single tenant until 28 February 2023 plus option to 29 February 2028.
Asking Price
Offers Invited
Goods and Services Tax
The Sellers are registered for GST and the sale of the property will be sold as a Going Concern.
For further details please contact the Selling Agents.
*Approx
Property History for 71 Lake St, Northbridge, WA 6003
- 26 Feb 2020Listed for Sale Auction
Recent sales nearby
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About Northbridge 6003
The size of Northbridge is approximately 0.4 square kilometres. It has 3 parks covering nearly 7.2% of total area. The population of Northbridge in 2016 was 1307 people. By 2021 the population was 1420 showing a population growth of 8.6% in the area during that time. The predominant age group in Northbridge is 20-29 years. Households in Northbridge are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Northbridge work in a professional occupation.In 2021, 31.10% of the homes in Northbridge were owner-occupied compared with 34.00% in 2016.
Northbridge has 1,313 properties. Over the last 5 years, Houses in Northbridge have seen a 57.13% increase in median value, while Units have seen a 62.32% increase. As at 30 April 2026:
- The median value for Houses in Northbridge is $1,118,824 while the median value for Units is $724,444.
- Houses have a median rent of $565 while Units have a median rent of $730.
Suburb Insights for Northbridge 6003
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