Balcatta blue-chip industrial premises on the market
Balcatta blue-chip industrial premises on the market
The West Australian - On the Block - 2nd November 2011
Marissa Lague
Lamb Print's relocation from its Balcatta premises has coincided with the owner's plan to sell the commercial and industrial property at 19 Abrams Street.
The prime Balcatta green title commercial property has a long history, with the likes of Orbital and RAC as previous tenants and with Lamb Print's departure, it will be sold with vacant possession.
Selling agent and director of Raine & Horne Commercial Anthony Vulinovich, said the well maintained property offered a flexible office-to-warehouse ratio that would accommodate future changes,
"The property also has a blue chip location in west Blactta, the section of Balcatta bounded by Erindale Road, Reid Highway and the Mitchell Freeway," Mr Vulinovich said.
"Balcatta is a great area to establish your business or investment portfolio given its excellent road links, proximity to Perth's CBD and employment nodes. We expect strong interest."
The asking price is $3.15 million plus GST.
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The sale of a strata office suite at the eastern end of the CBD with Swan River views and a big number of parking bays is set to generate considerable interest in Perth's increasingly tight office market.
The 165sqm office has been listed with Raine & Horne Commercial and is on the third floor of 197 Adelaide Terrace, a four-storey builiding with only 10 units in the scheme.
The office has a lease in place until August, with three additional year options and a market review scheduled for 2013.
Raine & Horne Director Terry Menage said the natural light in the three-level office, it's river views and the exclusive use of the balconies were strong selling points.
The income from the property is just over $83,000 per annum but this does not include any rental for the car bays which Mr Menage believes would be worth an additional $24,000 per annum plus GST.
"If you add the value of the car bays to the net rental from this unit, you can start to see it giving an investor return close to 10 percent in a few years time," he said.
The office car access off Burt Way and easy access via stairs on to Terrace Road.
Mr Menage said the property was competitively priced.
