20 Southport Street, WEST LEEDERVILLE
Expressions Of Interest Closing Thurs 21 Mar @ 2pm
VALUE-ADD OFFICE INVESTMENT
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-2- level office building with lettable area of 1,090 square metres*
-Land Area: 1,056 square metres*
-Partially leased to the Minister for Works until 31 December 2022
-27 on-grade secure car bays
-Estimated fully leased net income $323,275* p.a.
Zoning: Mixed Use' - Town of Cambridge Planning Scheme No. 1 - Precinct 5: West Leederville. The property is further located within the Southport Street Node'. Maximum building height of 10 storeys. Plot ratio bonuses only available to residential developments.
20 Southport Street comprises of a two-level office building with level of under croft car parking and occupies the site on the corner of Southport Street and Harrogate Street.
The office accommodation offers and#64258;oor plates on average of approximately 545 square metres, being regular in shape with views to the north, west, and south of the
The property is currently leased to the Minister for Works, namely the Department of Fire and Emergency Services (DFES), until 31 December 2022, providing security of income over the course of the lease. The tenant currently occupies approximately 481 square metres over the whole ground and#64258;oor returning an annual income of $145,600.* Income growth is a feature of DFES' lease, with fixed 4% indexations occurring annually until expiry.
In addition to the office space, DFES occupies 12 car bays at a rate of $104 per bay per month, or $14,976* per annum. This income is also subject to fixed 4% annual reviews, with the tenant returning a total income for the property of $160,576* per annum
Expressions Of Interest Closing Thursday 21st March 2019 at 2pm (AWST)
For more information, please contact one of the exclusive selling agents today.