<p class="mb-4"><strong>The Office Market</strong></p><p class="mb-4"></p><p class="mb-4">Mandurah's office market is underpinned by a diverse economic base. The construction industry leads with 24.2% of registered businesses, surpassing the state's average of 17.2%. Retail trade and health care &amp; social assistance are also significant, comprising 7.2% and 7.8% of businesses respectively .&nbsp;</p><p class="mb-4"></p><p class="mb-4">Mandurah's office development density is relatively low, reflecting its regional character. The city comprises five distinct shopping areas, including Mandurah Forum and Dolphin Quay, which serve as commercial centers . Recent proposals, such as the redevelopment of Hall Park into a commercial hub, have faced community opposition due to concerns over preserving public spaces and managing increased traffic . Overall, while there is potential for growth, development is approached cautiously to balance economic benefits with community interests.​</p><p class="mb-4"></p><p class="mb-4"><strong>Lifestyle &amp; Population</strong></p><p class="mb-4"></p><p class="mb-4">Mandurah has seen significant lifestyle changes and population growth over the past few years. Once a quiet fishing town, it has transformed into a bustling city with a vibrant community. This shift is largely driven by its attractive coastal location, improving infrastructure, and increasing appeal as a retirement and holiday destination.</p><p class="mb-4"></p><p class="mb-4">In recent years, Mandurah has experienced a surge in population, with growth rates consistently above the national average. As of 2024, its population is approaching 100,000, reflecting a trend of people moving from Perth and other parts of Australia seeking a more relaxed lifestyle by the water. This growth has been fueled by affordable housing compared to Perth, beautiful natural surroundings, and a burgeoning local economy.</p><p class="mb-4"></p><p class="mb-4">Looking ahead, Mandurah’s population is expected to continue growing, driven by both its attractiveness to retirees and the broader trend of decentralization from major cities. Projections suggest the population could reach around 120,000 by 2030.&nbsp;</p>

<ol class="ordered-list"><li><p class="mb-4"><strong>Ashley Services Group</strong></p></li></ol><p class="mb-4"></p><p class="mb-4">​Ashley Services Group (ASG) is an Australian company specializing in labor hire, recruitment, and training services. With over 50 years of experience, ASG offers tailored workforce solutions across various industries, including logistics, manufacturing, rail, construction, and horticulture. ​Ashley Services Group operates 24 offices across Australia.</p><p class="mb-4"></p><p class="mb-4"><u>https://ashleyservicesgroup.com.au/</u></p><p class="mb-4"></p><ol class="ordered-list" start="2"><li><p class="mb-4"><strong>Housing Choices Australia</strong></p></li></ol><p class="mb-4"></p><p class="mb-4">Housing Choices Australia is a national, not-for-profit housing provider dedicated to delivering safe, quality, and affordable housing for individuals and families on low to moderate incomes, including those with disabilities. They manage over 7,000 social and affordable homes, supporting more than 8,500 residents across Australia. Their services encompass social housing, affordable rentals, and Specialist Disability Accommodation, all aimed at fostering inclusive communities. As of now, Housing Choices Australia operates 11 offices nationwide, with locations in Victoria, Tasmania, South Australia, Western Australia, and New South Wales.</p><p class="mb-4"></p><p class="mb-4"><u>https://www.housingchoices.org.au/</u></p>

<p>This dual-tenanted investment offers an attractive <strong>current net yield of 6.28%</strong> (inclusive of management fees), generating a combined net income of <strong>$121,260 per annum</strong>, plus outgoings and GST.</p><p>The property is priced at <strong>$1,930,000</strong> (negotiated) with a blended net rent of <strong>$184/sqm</strong> across the two offices. While this rate appears modest, it provides significant upside potential in the Mandurah market.</p><p>All outgoings are <strong>100% recoverable</strong>, including management fees, enhancing the investment's net return. The property includes a <strong>$10,912 security deposit</strong> for 69 Pinjarra Road.</p><p>An upcoming rent review for Pinjarra Road on 1 August 2025 includes a fixed increase of <strong>3.5% or CPI</strong> (whichever is greater), which will boost the combined passing rent to approximately $123,343 and improve the yield to <strong>6.49%</strong>.</p>

<p class="mb-4"><strong>69 PInjarra Road, Mandurah - 333m2 - $179/m2 + 10 car bays</strong></p><p class="mb-4"><strong>4 Stevenson Street, Mandurah - 325m2 - $190/m2 + 10 car bays</strong></p><p class="mb-4">9B Smart Street, Mandurah - 278m2 - $198/m2, no car bay&nbsp; (similar)</p><p class="mb-4">14 Davey Street, Mandurah - 354m2 - $184/m2 + 12 car bays (similar)</p><p class="mb-4">26 Forrest Street, Pinjarra - 300m2 - $233/m2, no car bay (similar)</p><p class="mb-4">1/78 Pinjarra Road, Mandurah - 319m2 - $180/m2 + 12 car bays (asking rent) (similar)</p><p class="mb-4">11A Smart Street, Mandurah - 348m2 - $239/m2 + 8 car bays (asking rent) (similar)</p>

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