85 Stirling Street

Perth WA 6000

Discover a remarkable investment opportunity in the heart of Perth with this unique property at 85 Stirling Street, currently operating as the Empire Crown Hostel. This well-established backpacker accommodation features 29 rooms and 105 beds, offering a steady and lucrative income stream with limited vacancies.Redevelop into a high-rise residential building, tapping into the increasing demand for urban living spaces in Perth.Potential Uses:Continued operation as a backpacker hostel, capitalizing on the growing tourism sector.This unique property offers investors a dual opportunity: A solid income-generating business with the potential for future growth and redevelopment.Don't miss the chance to own this exceptional asset in one of Australia's most dynamic cities.Key Features:Established Business: The Empire Crown Hostel is a well-known establishment in the backpacking community, renowned for its friendly atmosphere and convenient location. The hostel is mostly occupied, ensuring a robust occupancy rate.High Net Income: This property is generating over 7.7% in net income annually, the Cafe has just been leased, demonstrating its profitability and strong market demand.Investment Potential:The property sits on a prime site with potential for redevelopment. There is an opportunity to construct a multi-story apartment building of up to 21 stories, subject to council approval allowing for significant capital appreciation and increased revenue potential.Strategic Location:Situated in a vibrant area of Perth, the hostel benefits from proximity to public transport, dining, entertainment, and major attractions, making it an attractive option for travelers.Site DetailsZoning Zoned "City Centre" Under the City of Perth's Town Planning/to be CONFIRMEDContact Brian McAllister or Doreen Sharma today to learn more about this fantastic opportunity and schedule a viewing.[Disclaimer: Whilst every care has been taken in preparing this advertisement and all information is provided in good faith, neither the agent nor the seller accept responsibility for any errors, omissions, or misdescriptions. Prospective buyers should make their own independent enquiries to their full satisfaction in relation to the property prior to submitting an offer.]Disclaimer:This information is provided for general information purposes only and is based on information provided by the Seller and may be subject to change. No warranty or representation is made as to its accuracy and interested parties should place no reliance on it and should make their own independent enquiries.