74 Francis StreetNorthbridge WA 6003
Property Details for 74 Francis St, Northbridge
Last Listing description (May 2023)
Welcome to 74 Francis Street, Northbridge - a stunning commercial property that offers a rare and exciting investment opportunity. This building is fully leased and comes with stable tenants, including a bar with a liquor license, and karaoke lounge making it an ideal choice for investors looking for a stable source of income.
Located in the heart of Northbridge, this property is situated in one of Perth's most vibrant commercial districts. Northbridge is well-known for its thriving entertainment and nightlife scene, with a wide variety of bars, clubs, and restaurants in the area. This makes it a highly sought-after location for businesses looking to attract a young and trendy crowd.
The property itself is a spacious and modern commercial space, spread over two levels with a total of 600 square meters of floor space. The building has been recently renovated and is finished to a high standard, with modern fixtures and fittings.
The ground floor of the building is currently leased to a popular bar, which holds a liquor license and has been operating successfully. This tenant is highly reliable and pays rent every 6 months in advanced. The bar is fully equipped with a commercial kitchen, sound system, and state-of-the-art lighting, making it a popular destination for locals and tourists alike. The lease for the bar is due for renewal in 2025, with options to extend.
The first floor of the building is leased to a successful karaoke lounge, which has been operating from this location for many years. It has a strong customer base and always busy, making them an ideal tenant for this prime location. This tenant pays rent every 12 months in advanced. The lease for karaoke lounge is due for renewal in 2027.
This property is an excellent investment opportunity for those looking for a stable and reliable source of income. The building is fully leased with long-term tenants, meaning that you can start generating income from day one. The current rental income for the building is $260,000 per annum, with potential for rental growth in the future.
The location of this property is one of its greatest assets. Situated in the heart of Northbridge, it is surrounded by a wide range of amenities, including cafes, restaurants, shops, and bars. It is also just a short walk from the Perth CBD, making it an ideal location for businesses that want to be close to the city center.
The property is well-connected to public transportation, with several bus stops and train stations located nearby. There is also plenty of parking available in the area, including a CPP car park located just a short walk from the property.
Overall, 74 Francis Street is an exceptional investment opportunity that should not be missed. With stable tenants, a prime location, and a reliable source of income, this property is an excellent choice for investors looking for a secure and profitable investment. For more information, please contact us today. We look forward to hearing from you!
*Disclaimer: The information is provided for marketing and promotion purpose only. Information is provided by seller may be subject to change. Clients need to make their independent enquiries and AEPG will not give warranty.
Property History for 74 Francis St, Northbridge, WA 6003
- 03 Apr 2023Listed for Sale Contact Agent
- 01 Sep 1986Sold for $430,000
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0About 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 50.52% increase in median value, while Units have seen a 63.58% increase. As at 31 March 2026:
- The median value for Houses in Northbridge is $1,115,873 while the median value for Units is $717,786.
- Houses have a median rent of $565 while Units have a median rent of $730.
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