A site on the fringe of Perth’s CBD with development potential is up for sale for the first time in 30 years.

The property at 7 Fore Street, which consists of a 1,362sq m warehouse on a 1,879sq m site, has been occupied by the Lucky Import and Export Co since 1991, but it will be sold with vacant possession.

The site is zoned mixed-use, and offers flexible development potential, with R80 zoning and a maximum height of four storeys.

It is being taken to the market via an Offers to Purchase campaign run by Knight Frank agents Jonathan Wong and Cory Dell’Olio on behalf of the vendor, the Tran family.

Price expectations for the property are $5.5 million.

Mr Wong said the property offered a rare opportunity to acquire a sizeable property so close to the Perth CBD.

“It’s not often that you see a warehouse in such a premium position come up for sale,” he said.

“It will appeal to a wide range of buyers including owner-occupiers, investors and developers, with the property able to be occupied or leased in a strong industrial market with the potential to redevelop in time.

“The property offers a prime location, sitting close to the corner of Beaufort Street and Brisbane Street, boasting a strategic presence and premium development opportunity.”

Mr Dell’Olio said the site was development ready, with flexible design guidelines allowing for a multitude of development outcomes.

“The property is zoned mixed-use, and according to the City of Vincent local planning scheme that allows for the development of a mix of varied but compatible land uses such as housing, offices, showrooms, amusement centres, and appropriate industrial activities. 
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“It has three street frontages to Fore Street, Tiverton Street and Lindsay Street, which will be beneficial for a future development.

“However, we do believe it will be sought after in its current form as warehouses of this size in Perth are hard to come by as they are tightly held.”

The Offers to Purchase campaign for the property will close at 3pm AWST on Thursday, November 7.

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