First National Real Estate Busselton is pleased to offer to the market 25 Albert Street, Busselton for sale by Offers above $780,000 (Nil GST - Going Concern).
This represents a unique opportunity to acquire an outstanding leased investment asset located in the popular South West of WA.
The property encompasses a 826 square metre site zoned Regional Centre R-AC3, and is improved with a commercial building that is Leased to SW Taxis Pty Ltd.
LOCATION
With significant expansion of the Greater Busselton and Dunsborough regions, demand for local transportation services has risen strongly and is expected to continue with strong population growth into the region. With its excellent location, 25 Albert Street presents as a solid property for investors looking for a key site within the area with exposure to high volumes of passing traffic. Surrounding development includes Cinemas, retail development along Queen Street, and hospitality and food establishments along Albert Street including hotels and fast food outlets. The property is situated in a prime position at the entry to the bustling City Centre, representing a key site for future redevelopment.
The property is improved with a Brick office development divided into 4 offices with the site also featuring security-fenced parking with sliding front gate. The availability of onsite secure parking within the CBD is an absolute rarity. Currently leased to SW Taxis Pty Ltd, providing a current net annual rent of $41,960 (excluding GST) with a net lease structure and all outgoings payable by the tenant (land tax - single ownership rate)
LEASE SUMMARY
Term: 36 months commencing on 1 September 2022
Option: 36 months commencing on 1 September 2025
Lessee: SW Taxis Pty Ltd ACN 661 151 382
Rent: $41,960 per annum plus GST and outgoings
Rent Reviews: Annual to the greater of market/cpi
Outgoings: Leasee pays all outgoings.(land tax single rate ownership).
Lease area: The whole of the Land situated at 25 Albert Street, Busselton.
ZONING
The property is zoned Regional Centre under the City of Busselton Local Planning Scheme No 21. Under this zoning classification, the property is suitable for a wide variety of uses including and not limited to: Amusement Parlour, Bulky Goods showrooms, Community Purpose, Consulting Rooms, Convenience Store, Corner Shop, educational establishment, home business, home occupation, liquor store – small, medical centre, office, restaurant/café, and shop.
The objective of areas zoned Regional Centre are to embody the following objectives:
a. To provide a genuine centre of community life, socially, culturally and economically.
b. To provide a basis for future detailed planning in accordance with the structure planning provisions of this Scheme or the Activity Centres State Planning Policy.
c. To ensure that development provides for activation of the street and public spaces, high quality design and a variety of land uses.
d. To provide for medium to high density residential development.
For further details on this property, please contact your local Commercial and Industrial property specialist Matt Snaddon 0488280020.
***Prior to purchasing the property First National Real Estate Busselton requires the buyer to conduct their own due diligence including verification of details the agent has advised to you. The information provided to the agent comes from the vendor (and other 3rd parties including Landgate and local government authorities) and we confirm as agent we have no independent knowledge of the correctness of the information.
