Meryl Carter, Director, Licensee of Luxury Real Estate is pleased to present for sale 177 Hay Street, Subiaco. An opportunity for the astute property investor to purchase a restored and renovated original Subiaco freehold property dating from 1910 in this tightly held inner-western suburbs location. Formerly the Subiaco East Post Office the property, which is now leased to a renowned Australian fashion business exporting worldwide, retains many character features while incorporating the latest in modern technology, resulting in a superb commercial real estate investment in one of Western Australia's premier locales.
LOCATION The property, which fronts Perth's main arterial road of Hay Street, is positioned near the intersection with Coghlan Road in a thriving commercial precinct surrounded by national retailers and established businesses, and is in close proximity to the new Bob Hawke College, Subiaco Oval redevelopment, former Princess Margaret Hospital site, One Subiaco (redevelopment of the old Subiaco Pavilion Markets) and landmark Subiaco buildings such as The Vic, Subiaco Hotel, and The Regal Theatre with easy access to public transport and ample car parking amenity. A 6 storey development has been approved for an adjacent site at 155 Hay Street, an indication of the increased density planned for the immediate area.
TENANCY The property has entered the second year of an initial five-year lease to Pallas Couture with a current gross rental income of $90,640 per annum. Please refer to the selling agent for further lease details.
LAND DETAILS Land Area: 377 square metres Frontage to Hay Street: 10.10 metres Zoning: R-AC0 under City of Subiaco Local Planning Scheme No. 5 (high-rise development potential to 6 storeys)
IMPROVEMENTS The property consists of single level retail premises with an approximate building area of 216 square metres and comprising retail showroom, further retail space and staff amenities, and an additional approximately 160 square metres functions area/green space to the rear of the property. The property is included in the former Municipal Heritage Inventory, however is not listed on the City of Subiaco Heritage List.
Contact us for the Information Memorandum - Meryl Carter 0438 444 000