Major Balcatta Value-Add Opportunity
6-8 Geddes Street & 5 Kenhelm Street, Balcatta, WA 6021 Australia
OVERVIEW
Cushman & Wakefield is excited to present Western Australia’s premier value-add industrial opportunity for 2024, offering to the market 6 - 8 Geddes Street and 5 Kenhelm Street, Balcatta.
Located in the esteemed Balcatta submarket, this unique and scalable investment opportunity offers investors & developers, and strategically positioned owner-occupiers the opportunity to take a significant foothold in Perth’s most sought after Industrial & Mixed Business precinct.
Key Asset Features
- An irreplaceable 22,794 sqm* site across three titles, featuring dual street frontages on Geddes Street and Kenhelm Street.
- Leased to Metcash Food & Grocery Pty Ltd, operating as a “Campbells Cash & Carry” Wholesale Market, with an additional monthly hardstand lease to Bomax Plant Hire Pty Ltd.
- Two-year WALE (as of 18 December 2024) across the Metcash lease (no option applicable) with an additional monthly hold over lease at 5 Kenhelm Street.
- Net passing income of $1,013,259* p.a. (as of October 2024) over the Metcash lease area, plus an additional $38,000 p.a.* from the monthly tenancy at 5 Kenhelm Street.
- Positioned in a high-value, revered inner northern industrial & mixed business precinct with no future land supply, reinforcing the areas undisputed reputation as one of the most tightly held industrial precincts in Perth’s metropolitan area.
- Genuine last mile location given proximity to densely populated surrounding residential corridor, supported by a population of 1.5 million* people within a 30 minute* drive and reflecting a retail expenditure catchment of $27.1 billion*.
- Incredible repositioning and redevelopment potential, supported by existing lease structures, multiple titles, and the configuration and quality of improvements.
6 - 8 Geddes Street & 5 Kenhelm Street, Balcatta is being offered for sale through Expressions of Interest closing 4pm AWST Wednesday 30 October 2024.
For further details or to gain access to the Intralinks data room, please contact the exclusive selling agents.
*Approx.
- Perth - Northern Suburbs
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Details
- Building Size:
- 6,961 SQM
- Sale Price:
- Negotiable
- Lot Size:
- 22,794 SQM
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AVAILABILITIES