161 Fitzgerald Street Northam WA 6401

Incredible opportunity to purchase a historical component of the Northam township.

In 1915, the Bank of NSW moved into these premises with manager's quarters attached; constructed at a cost of £2,713. In 1927, the building was altered to accommodate the increase in business following the amalgamation of Bank of NSW and Western Australian Bank.

Surviving and thriving for over 100 years, the building is currently leased to Westpac Bank.

Property Summary:
- Originally constructed in ~1915 with significant improvements and alterations since.
- Total block area of 682 square metres
- Prominent main street location along Fitzgerald Street
- Internal floorspace across multiple levels of 301 square metres
- Balcony area
- Large rear parking facilities
- Leased at $59,400 per annum + outgoings.
- Rental yield of approximately 7% , excellent, tenant is a reputable client who has been consistent in occupation and rental payments at the property for many years.
- Westpac has an extended moratorium on regional branch closures until at least 2027 while it strengthens regional banking services.
- The building is deemed to be of exceptional significance as per the WA Heritage Council outstanding example of heritage to the area. The place should be retained and conserved unless there is no feasible and prudent alternative to doing otherwise. Any alterations or extensions should reinforce the significance of the place, and be in accordance with a Conservation Plan (if one exists for the place).

Location Summary:
- Northam is a town in Western Australia's Avon Valley, approximately 97 km east of Perth.
- Positioned along the banks of the Avon River, it serves as a key service centre for the surrounding agricultural region.
- Strategically located at major road junctions, making it a regional hub.
- Known for its rich history, beautiful parks, and natural attractions, making it appealing for residents and visitors.
- Population: 11,358 (2021)
- Employment Rate: 63.8%
- Median Northam Weekly Income: $1,316

Since 1915, this exceptional building has been an important landmark for Northam and Fitzgerald Street. Leased to a reputable tenant, the property represents a sturdy investment.

Will you purchase this building for its inspiring history or for its future promise?

Contact Thomas Bettison 0401 378 355 Today.