A retail centre investment opportunity in the South of Perth
This investment opportunity in one of the top three sought-after suburbs in the Bunbury Region (150km
South of Perth) with 11 shops on a large 4,659sqm freehold corner block, boasting approx. 187m of street frontage.
The long-term development potential of this property with 3-sided street access is outstanding. Currently zoned “Local Centre” with R60 residential density, it can accommodate up to 40 units which is feasible due to sufficient site coverage for parking.
There is a mix of 5 tenants fully occupying 11 units with background in medical food, service and retail. These tenants have been on site for as long as 2007 (Fish & Chips) to 2023 (Yankee Candy). Allied Health have increased their NLA by occupying another shop in 2023. Three of the five tenants are in the medical field, accounting for 83% of collected rental income.
- Total land size 4,659sqm freehold
- Corner block with approx. 187m street frontage (three-sided access)
- 11 shops with a total NLA of 1,376.80sqm
- Net Income $351,224 pa + outgoings + GST (excl management fees)
- 60 bays on site
- Solar panels on roof
- Great development potential due to three sided street access
- Currently zoned “Local Centre” and R60 (can accommodate up to 40 units under current
- zoning)