Burgess Rawson has commenced an expressions of interest campaign offering investors the opportunity to purchase a brand new, blue-chip service centre located on the Great Eastern Highway in Perth.
Proximity to Perth's rapidly-growing airport is one of the perks being offered through the latest Burgess Rawson sales of interest campaign.
The commercial real estate agency has been appointed to sell brand new, blue-chip service centre located on the Great Eastern Highway in Perth.
Comprising of more than 6000 square metres, the corner site sits opposite Perth’s national and international airport, providing exposure to the 39,000 vehicles and 8,000 heavy vehicles that pass through the area daily.
At a glance:
The Shell-branded service centre features an innovative environmentally friendly canopy, as well two retail tenancies in the form of Fresh Trading Co and Gloria Jeans.
There is also a signage billboard leased to QMS Media, a dual drive-through facility, ten refueling bays, a separate truck canopy with seven bay high flow diesel, B-double truck access, eighteen car parking bays, and two extensive street frontages totaling 156 metres.
Burgess Rawson Director Jamie Perlinger said the sale of the mixed-use zoned property highlighted the strong investment opportunities within the city.
“Perth is an area that is witnessing a resurgence with positive press about the reinvestment in mining from three major iron ore companies including BHP, Fortescue Metals and Rio Tinto," he said.
"They are committing to spend almost $9 billion on new projects within the next decade.
"Lithium companies are also spending significant money in the state.”
Perth has a GDP of $150.3 billion, accounting for 8.3 per cent of Australia’s total economic output and almost three-fifths of Western Australia’s economy.
Within the next 20 years Perth Airport plans to increase passenger numbers by approximately 13.8 million to 28.5 million.
Mr Perlinger said the service centre provided the opportunity to be part of the area's growth.
"The asset is located in the middle of Perth’s expansion with its proximity to the airport and location along the Great Eastern Highway linking with Perth CBD and the booming eastern residential area," he said.
“Future proof lease structures and tenants committing to long term leases combined with a continuing strong appetite for commercial assets underpins ongoing interest in fuel investments.
"Passive and secure long-term returns continue to draw investor interest.”
Fresh Trading Co anchors the site and has secured a 15-year lease with options to 2054. Net rent is approx. $995,000 pa. with fixed three per cent annual increases.
Gloria Jeans (Retail Food Group Ltd) has secured a 10-year lease with options to 2043 with fixed three per cent annual rent reviews.
QMS Media Ltd’s billboard is on a 10-year lease with options to 2049 and rent approx. $90,000 pa. with a fixed three per cent annual rent review.
Expressions of interest close at 4pm (AEDT) on Wednesday 13 March 2019.
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