4 February, 2019, Perth – A two level commercial building with prime Stirling Highway frontage on the border of Claremont and Cottesloe in Perth’s western suburbs is to be sold by Knight Frank’s Todd Schaffer and James Baker.
The high profile building at 414 Stirling Highway is passed by more than 35,000 vehicles a day and enjoys two street frontages on the corner of Stirling Hwy and Airlie Street.
It is currently occupied by three separate tenants and returns an income of close to $200,000 per annum.
A fourth tenancy of 291 square metres is available, potentially suiting an owner-occupier or adding further rental potential.
Knight Frank Partner, Capital Markets – WA, Todd Schaffer, said the building had a ground floor lettable area of 596 square metres, plus 280 square metres of lower ground storage, hardstand and parking.
He said the total site area was 1085 square metres with a huge 44 metre frontage to Stirling Highway.
“A property like this will attract significant interest from investors due to its secure income, ideal location and long term redevelopment and capital growth potential,” Mr Schaffer said.
“It may also appeal to an owner-occupier with long term growth plans.”
“The property is walking distance to the Cottesloe town centre, the Swan River and the Fremantle railway and just minutes from the heart of Claremont.
“It is also in the heart of one of the most affluent residential areas in Western Australia.”
The property will be sold by Offers to Purchase closing on march 7, 2019.