 Asset Class: | Office |
 Price: | $ 1550000 |
 Net Yield: | 6.42 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
<b>Leased Office with National Tenant and new 5+5 Lease in Prime Location – Secure 6.42% Net Yield</b><br><br>Presented below is an exceptional, secure investment opportunity with a national tenant in a single-storey, modern office building with generous parking. It’s located in Wembley, a highly sought-after, blue-chip location. Spanning 238sqm of modern building area, this well-appointed asset was built in 2010, offering depreciation benefits for the discerning investor. The fully self-contained office space has been upgraded with polished concrete floor and glass partitions, which will be transferred to the buyer.<br><br>The tenancy is anchored by Cirrus 8 (Cloud Management Software) and Real Trust (Accounting), two partner businesses operating under same ownership.<br><br>The current lease extends until 30 June 2029, with a 5-year renewal option until 2034. Rental terms include annual CPI + 1% increases, with a market review at the option period, ensuring strong income growth potential.<br><br>This high-quality office asset offers an exceptional opportunity for stable returns in a prime inner-city location.<br><br><br><b>What We Like About This Asset</b><br><br>- High lease security with a National Tenant<br>- Excellent parking ratio at 1 bay in 27sqm (9 registered bays on title)= high tenant appeal<br>- Extensive building upgrades by lessor (transferred to buyer) into a modern look space with polished concrete and glass partitions<br>- Fully self-contained with kitchen and bathrooms = high tenant appeal<br>- Single storey development = easy access and exposure = high tenant appeal<br>- Attractive built-in increases at CPI+1%<br>- Excellent yield at 6.42% at a highly competitive price-point at $1.5M
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<b>The Office Market</b><br><br>Wembley hosts a diverse office market with a strong presence of professional services, IT firms, healthcare providers, and education-related businesses. Accounting, legal, and consulting firms are prominent in the area, catering to both local and regional clients. Additionally, healthcare and allied services contribute to the local economy, with various medical practitioners operating within the suburb. <br><br>The development density in Wembley consists of a mix of traditional office buildings and repurposed residential properties, providing flexible options for businesses. With a well-utilized office market and a strong tenant mix, Wembley remains a sought-after location for businesses looking for suburban office solutions near Perth’s CBD.<br><br><b>Lifestyle & Population</b><br><br>Wembley is a vibrant suburb located approximately 5 kilometers west-northwest of Perth's central business district. As of the 2021 Census, Wembley had a population of 12,740, reflecting a steady increase from the 11,301 residents recorded in 2016. This growth aligns with the broader trend observed in Perth's western suburbs, which are known for high incomes, high house prices, and proximity to ocean beaches.<br><br>Wembley offers a balanced lifestyle that seamlessly blends urban conveniences with tranquil surroundings. Residents enjoy access to various amenities, including shopping centers, dining options, and recreational spaces.The suburb's proximity to Perth's city center enhances its appeal, providing easy access to cultural and employment opportunities. Educational institutions such as Bold Park Community School and Wembley Primary School cater to families, while Lake Monger offers scenic outdoor spaces for relaxation and recreation. This combination of factors contributes to Wembley's reputation as a sought-after suburb, attracting a diverse and growing population.<br>
Additional Location Information File<b>Cirrus 8</b><br><br>Cirrus8 is an Australian-based company that provides cloud-based property management and accounting software tailored for commercial, retail, industrial, and strata property portfolios. <br><br>Founded in 2015 by Raymond Bechard and Steve Carulli, Cirrus8 has quickly emerged as a leader in the property management industry. The company's clientele includes prominent brands such as Colliers International, RealMark, Knight Frank, and Altegra.<br><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://cirrus8.com.au/"><u>https://cirrus8.com.au/</u></a><span></span><br><br><b>RealTrust Property Accounting Services</b><br><br>RealTrust specializes in providing remote support solutions for commercial property management businesses. Their services include outsourced trust accounting, property management assistance, variable outgoings reconciliations, and budget preparation. By offering flexible staffing options tailored to various budgets and portfolios, RealTrust aims to streamline financial and property management processes, allowing businesses to operate more efficiently while reducing costs associated with in-office staff.<br><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://www.realtrust.au/"><u>https://www.realtrust.au/</u></a><span></span><br>
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Under the leases all outgoings are 100% recoverable, including management fees and land tax.<br><br>Exact outgoings will be confirmed post exchange of the contract.
Additional Financial Information FileInitial Term:
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12/127 Herdsman Parade, Wembley - 238m2 - $350/m2 + 9 bays at $150/bpm 4/100 Railway Road, Subiaco - 150m2 - $350/m2 + 5 bays @$250/bpm 17/100 Railway Road, Subiaco - 363m2 - $392/m2 + 10 bays @ $250/bpm GF, 31 Ventnor Avenue, West Perth - 334.8m2 - $443/m2 + 8 bays @ $325/bpm 68 King Street, Perth - 180m2 - $488/m2
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<b>Purchase Price: </b>$1,550,000 (negotiated) <br><br><b>Current Base Rent:</b> $99,500pa + Outg + GST (incl mng)<br><b>Exclusive Car Bays (Ratio):</b> 9 car bays (1 bay in 27sqm)<br><b>Current Net Yield:</b> 6.42% (incl mng)<br><b>NLA / Land:</b> 238sqm / Ground Floor (strata)<br><b>Purchase Rate per sqm:</b> $6,428/sqm<br><b>Net Rent per sqm:</b> $350/sqm (excl mng) + car bays ($150/bay per month)<br><b>100% Outgoings Recoverable:</b> Yes<br><b>Outgoings (per sqm):</b> TBC post exchange of contract (100% recoverable)<br><b>Age of Asset: </b>approx. 15 years<br><b>Any Incentives in the Lease: </b>No<br><b>Are Seller & Tenant Related: </b>No, owned by 3 x individuals<br><b>Re-letting Period: </b>1-3 months in the current market (high tenant appeal due to modern fitout, high car bay ra<b>tio)</b><br><b>Flood Zone:</b> No<br><b>Bushfire Zone:</b> No<br><b>Contamination:</b> No<br><br><b>Asset Composition:</b> <br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Ground Floor Strata</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">238sqm of NLA</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">9 exclusive car bays</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Modern fit-out with polished concrete flooring</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Reception Area</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Glass partitioned offices and boardroom</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Kitchenette</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Male, female and disabled access amenities with shower</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Air-conditioned</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Strong natural light throughout</span></p></li></ul><br><b>Infrastructure Level:</b> Tier 1 (Blue Chip Location)<br><br><b>Key Highlights:</b><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Ground Floor Strata</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">238sqm of building area</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Built in 2010; extensive fitout post 2020 by lessor > depreciation benefits evident</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Purchase Price $1,530,000</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Current net rent $99,500pa + Outg + GST (incl mng)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Net Yield 6.42%</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Lease Expiry 30 Jun-2029 + 5-years (2034)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">CPI + 1% annual increase, market review at option</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">100% of outgoings paid by tenant (incl mng)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Tenant - Cirrus 8 (Cloud Management Software) & Real Trust (Accounting) > partner business</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Located 5.61km West of the Perth CBD</span></p></li></ul><br><b>Agent Questions:</b><br><br><b>Are all outgoings, incl mng fee, recoverable:</b> Yes<br><b>Is the tenant related to the owner in any way:</b> NO, owned by 3 individuals<br><b>Why are the owners selling:</b> unknown / selling due to individuals needs<br><b>Who does the fitout belong to / who paid for the fitout:</b> Lessor<br><b>Security Bond:</b> Leases state BG 20K + 20K =40 total<br><b>Are you aware of any defects that will arise from the building inspection:</b> no, unaware
