Overview

This property presents a unique opportunity for developers and occupiers to acquire a prime landholding of 4,998 square meters, strategically located at the intersection of Great Eastern Highway and Lyall Street in Ascot.

The site enjoys excellent visibility and high traffic flow, providing direct access to Perth's central business district, eastern suburbs, and Perth Airport. It is conveniently situated near major road networks, including Tonkin, Roe, Leach, and Reid Highways, ensuring easy connectivity to various parts of the Perth metropolitan area.

Additionally, the property is located just 1.7 kilometers from the Redcliffe Train Station, with further public transport options available along Great Eastern Highway. The surrounding area features a mix of residential apartments and homes, as well as commercial, industrial, fast food, and hotel establishments, making it an attractive location for diverse uses.

The property includes several improvements, such as a 175 square meter office, a 240 square meter shed/workshop with a 50 square meter lean-to canopy, an older style 75 square meter office, and a smaller 50 square meter workshop. At the rear, there is a large sealed, fenced, and drained hardstand area.

Zoned as 'Mixed Use' under the City of Belmont's Town Planning Scheme No. 15, the site allows for a variety of commercial and residential applications. Currently, the property operates under a non-conforming vehicle hire use, which can be continued by the current or future owner.

There are three separate leases in place, providing a steady income stream, which includes:

• AB Group (Avis Car Rental) - 3,333 square meters leased until December 8, 2027, generating an annual rental income of $177,193.83, subject to annual CPI increases and a five-year option with a market rent review.
• Telstra - 17 square meters leased until March 31, 2030, with an annual rental income of $31,451.65, subject to annual increases of the greater of 3% or CPI, with two further five-year options.
• Busby Investments - 1,638 square meters (hardstand only) leased until December 8, 2027, with an annual rental income of $74,160, also subject to annual CPI increases and a five-year option with a market rent review.

With a total net income of $282,805.48 per annum and redevelopment clauses included in all three leases, this property offers significant potential for investment, occupation, or development.

Location