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128 - 134 High Street is an iconic and centrally located Fremantle laneway, situated within metres of Kings Square, City Hall and 15,000 Government office workers. There is an excess of $1.3 Billion of projects in the pipeline and approved for Fremantle at present and as a consequence, investment property in the Fremantle City Centre is tightly held and infrequently becomes available for sale. The property has a substantial land area of 907 square metres, with improvements comprising six single level tenancies returning a solid holding income. Under the City of Fremantle Planning Scheme No. 4, the property is zoned "City Centre" which permits a full range of shop, office, entertainment and residential uses. The property is further situated in "Local Planning Area 1", which stipulates a building height of five storeys with a maximum of seven storeys and a zero boundary setback. There are 5 quality tenants presently providing a net income of $133,125p.a. (GST Exclusive). Offers from $2.75 million are invited, showing a sound holding return of 4.48% p.a. and a land rate of only $3,032 per square metre. Please contact Bruce Porter for further information. |
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