Shop 1, 391 Fitzgerald Street
NORTH PERTH

STRATEGIC INVESTMENT

NORTH PERTH PLAZA SHOPPING CENTRE

FITZGERALD STREET SHOP FRONTAGE

TENANT ELITE RACING CYCLES

Ron Farris Real Estate as exclusive agents are pleased to present to the market for sale shop 1, 391 Fitzgerald Street, North Perth.

PROPERTY HIGHLIGHTS

- Strata area of 169 m2* located on the exterior perimeter of the North Perth Plaza shopping centre facing Fitzgerald Street.

- Part of a thriving retail complex comprising 21 strata lots with a Coles supermarket as anchor Tenant.

- Located in a bustling part of Fitzgerald Street and opposite Chemist Warehouse.

- Passing income $61,800 pa plus GST plus outgoings (as per lease) plus GST (Landlord pays property management fee which is unaccounted for in passing income).

- Lease in place to Baker Cycles Pty Ltd. 5-year lease commenced on the 1st May 2022 and ending on the 30th April 2027. Plus, a 5-year option commencing on the 1st May 2027 and ending on the 30th April 2032.

- Next rental review due on the 1st May 2024 to an increase of 3%.

- Complex comprises specialty businesses servicing the surrounding neighbourhood community including a Coles supermarket, Liquorland retail outlet, newsagent, pharmacy, bakery, barbershop, nail salon and others.

- Tenancy benefits from direct exposure to Fitzgerald Street and is further supported by enviable foot traffic exposure via traffic light crossing in front of shop.

- Zoned District Centre under the City of Vincent Local Planning Scheme No. 2.

- The Parent Site of 10,078 m2* represents an exceptional inner-city location circa 2km's from the Perth CBD. With the right stewardship, the Parent Site presents an opportunity for redevelopment subject to required approvals.

This property will suit the investor looking to add a quality asset with desirable lease covenant to their property portfolio.

For further information, please contact the exclusive listing agent via the details below

* Approximate Area Only.