A commercial site ripe for future redevelopment within the City of Fremantle is expected to generate significant buyer interest as it hits the market this week, largely due to its location.

The 11,763sq m property at 23 Peel Road in O’Connor, 20 kilometres south of the Perth CBD and only five kilometres from the Fremantle Port, has over 100 metres of frontage to the busy Stock Road.

It currently consists of a 5,463sq m building with both showroom and warehouse space, occupied by long-standing tenants including Carpet Court, West Coast HiFi and Intersport.

However it is ripe for redevelopment, with multiple uses permitted within the planning scheme of its ‘Commercial’ zoning.

The property is being taken to the market via an Offers to Purchase campaign run by Knight Frank agents Tony Delich and Cory Dell’Olio in conjunction with Ross Skelton of RN Corporate on behalf of the vendor, Carcione Group.

the asset offered a rare opportunity to secure a strategic land holding within the vibrant and well-connected O’Connor commercial/industrial precinct, located on the corner of Peel and Stock Road.

“We expect this well-known site will attract both owner occupiers and developers looking to acquire the site for future redevelopment,” he said.

“It has solid holding income in the short term, with the property being 86% leased to multiple tenants.

“The location will be the major drawcard for buyers, with the property positioned within a high exposure area between the Leach Highway and South Street, and having frontage to Stock Road, which has more than 30,000 vehicles passing by daily.”

Mr Dell’Olio said given the site’s corner location it was ideally positioned for an astute buyer to develop modern improvements to enhance the value.

“There are a multitude development options for the site, but some permitted uses include a medical centre, office space or a car, boat or caravan yard, with bulky goods showroom a discretionary use.

“The area is well accessible and is known for its mix of residential, commercial, and industrial zones, providing a dynamic environment for businesses and residents alike.”

Mr Skelton said: “The combination of a resilient economy, stable infrastructure investment, and the recent lowering of the Reserve Bank of Australia's (RBA) cash rate sets a favourable environment for a continued positive outlook in the Perth commercial market.”

The Offers to Purchase campaign for the property will close at 4pm (AWST) on Wednesday, April 2.