246 Adelaide Terrace

Perth WA 6000

The land is zoned Office/Residential under the City of Perth Town Planning Scheme No. 2 (TPS2), with a plot ratio of 4.0:1.

While prospective purchasers should rely on their own enquiries with the City of Perth regarding permitted and discretionary uses, a range of uses have previously been approved/explored, including

Class 9B (training/assembly), ground-floor retail, and a 13-level hotel development.

Further enhancing the asset's flexibility is the ability for an owner-occupier to utilise portions of the building while concurrently exploring leasing, redevelopment or repurposing opportunities within other areas.

In addition, where the separate strata title configuration is retained, there is the potential to progressively sell individual floors, thereby enabling staged capital realisation and risk mitigation.

Property Highlights
Ground Floor Retail and Activation Potential
Strata Lot 1 (1,046 sqm) incorporates the basement, ground floor, and mezzanine levels, presenting an opportunity to activate the ground floor for retail, showroom, or hospitality uses (STCA), with prominent exposure to Adelaide Terrace.
Basement: previously utilised for storage, including a 155 sqm walk-in safe
Ground Floor: 636 sqm
Mezzanine: 255 sqm

Upper Levels
Strata Lot 2 - First Floor (650 sqm): Currently configured as office accommodation, including reception, boardroom, meeting rooms, private offices, open-plan work areas, and dedicated amenities.
Strata Lot 3 - Second Floor (668 sqm): Comprising reception, boardroom, meeting rooms, private offices, open-plan work areas, and dedicated amenities.

Each level is self-contained and well suited to single or multiple tenancy arrangements, owner-occupation, or future reconfiguration.

The property is supported by 31 car bays.

While sentiment within the office sector is beginning to show early signs of improvement, this offering extends well beyond a conventional office investment.

The asset represents a genuine, once-in-a-cycle opportunity for an astute purchaser who recognises its broad potential in the short-term but is also looking to secure a substantial and strategically located site within Perth's CBD for the longer term.

For further information or to arrange an inspection, please contact the exclusive agent David Lamb on 0411 597 952, or Tony Gorman, Licensed Valuer and Director of Agency, on 0403 589 994.