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1,348 SQM DEVELOPMENT SITE WITH EXISTING BUILDINGS AND GO...

272 & 274 Hay Street, EAST PERTH WA, 6004

For Sale

Property for Sale in 272 & 274 Hay Street, EAST PERTH WA, 6004

Listing ID:
11358332
Status:
Active
For:
Sale
Price:
$4,950,000 Nil GST - Going Concern
Last Updated:
29/10/2019
Icon building

Property Type

Land/Development
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Land Area

1348 SQM
Icon size

Floor Area

N/A
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Parking

N/A

1,348 SQM DEVELOPMENT SITE WITH EXISTING BUILDINGS AND GOOD HOLDING INCOME

272 & 274 HAY STREET, EAST PERTH

* Front & Rear Access - Not in Lots
* 25.59 metres Hay Street Frontage
* 1,348 square metres Land Holding

272 HAY STREET
Land Area 673 square metres
Improvements - 400 square metres building incorporating restaurant and store area

274 HAY STREET
Land area 675 square metres
Improvements - 550 square metres trading as a supermarket

TOTAL LAND AREA
1,348 square metres,
Frontage to Hay Street 25.59 metres
Total building 950 square metres

IMPORTANT INFORMATION
This site is unique that it has side and rear right of ways that are not included in the Lots, so you have Hay Street access which is invaluable. If the future intention is to develop this site to access rear parking etc. These are gazetted right of ways and cannot be extinguished.

TENANCY DETAILS - 272 HAY STREET
Tenant - Golden Treasure Chinese Restaurant
Lease - 5 years commencing 01/04/2019
Rental - $50,000 pa plus Variable Outgoings and GST

TENANCY DETAILS - 274 HAY STREET
Tenant - Golden Hay Supermarket
Lease - 5 years commencing 01/04/2019
Rental - $70,000 pa plus Variable Outgoings and GST
Note: This is a holding income only. Both businesses have been trading on this site for several years.

ZONING
Governed by The City of Perth and is zoned "Town Centre" under City Planning Scheme No.2. The property is situated within the Goderich Precinct. Basic zoning information attached. We urge any prospective purchaser to discuss their use with the City of Perth, subject to City of Perth approval. This site can be developed to 18 levels, there is a DA approval at 286 Hay Street for this height.

GENERAL
This property is strategically located with surrounding Residential - Hotel - Retail Developments. This is not an investment property, it is for a land holding with a reasonable income located on Hay Street, one of the most recognised arterial roads in the Perth CBD, now offered For Sale.

For more details, please email agent

Ron Farris Real Estate Pty Ltd

Suite 9, 23 Richardson Street, South Perth, WA 6151


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