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Malaga Markets offering tenancy & income spread with mult...

7 Bonner Drive, MALAGA WA, 6090

For Sale

Property for Sale in 7 Bonner Drive, MALAGA WA, 6090

Ray White Commercial (WA)

Ground Floor, 12-14 The Esplanade, Perth, WA 6000

Listing ID:
11357055
Status:
Under-offer
For:
Sale
Price:
$11,990,000 (going concern)
Last Updated:
20/04/2020
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Property Type

Retail/Showrooms/Bulky Goods/Hotel/Leisure
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Land Area

18208 SQM
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Floor Area

2256 SQM
Icon parking

Parking

375

Malaga Markets offering tenancy & income spread with multiple opportunities

The Malaga Markets is arguably the best performing variety markets in Perth, with over 1.5 million visitors annually.

The spread of tenancies, long history of permanency and underlying land value makes the Malaga Markets a great investment.

Malaga Markets is a purpose built variety market with 65 tenancies centred around a food court and fresh food tenancies and bar with a strong trading history since 1994, located on a prime site with fantastic opportunities to add value.

Whilst the WALE is approximately 4.5 years there are many tenants who have been successfully trading on short-term leases for many years. The average tenancy at the Malaga Markets is approximately 7.1 years.

The 65 tenancies cover a wide variety of uses centred around the food court and fresh food offerings.

The future potential of the 1.85 hectare site is only limited by your imagination.

With "Highway Service" zoning, major frontage to Beach Road and metres away from Alexander Drive the site offers multiple options in the future.

Because the leases are all gross any saving in outgoings or improved efficiency means an immediate increase in net income to the owner.

Passing Net Income (1/8/19) is $883,816
Full Potential Net Income is (est) - $1,008,680

For further information or to arrange an inspection please contact:

Brett Wilkins
M: 0478 611 168
E: brett.wilkins@raywhite.com

For more details, please email agent


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Ray White Commercial (WA)

Ground Floor, 12-14 The Esplanade, Perth, WA 6000


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