Burgess Rawson are pleased to present to the market for sale 162 Scarborough Beach Road, Scarborough. This incredibly rare offering boasts a 937sqm freehold site with a large array of potential uses and sensational upside to acquire a property of this size and scope in the highly sought & iconic suburb of Scarborough.
Property Features
+ Huge 937sqm freehold site
+ Zoned 'Mixed Use R-AC0'
+ Iconic Scarborough beach ocean views
+ Holding income from long standing tenant
+ 606sqm* improvements
+ Suitable for a range of buyers including future occupiers, investors and developers with the ability to build multi-level.
+ Fantastic location adjoining key amenity and with excellent access to the WA coastline
+ Incredibly rare Scarborough offering
+ Rear Laneway access
+ Plethora of future uses
Income & Use Options
The property is currently leased to a local hardware store trading as 'Scarboro Hardware' which is a family business and has occupied the premises for over 40 years. The current net rent is $118,600 + GST pa.
The lease expires on the 31st December 2025 with no further options affording buyers the opportunity to;
+ Develop: Collect income whilst they lodge development plans & prepare a development scheme
+ Invest: Re-negotiate an additional renewal with the Tenant and continue to collect income
+ Future Occupy: Make plans to occupy the premises at the conclusion of the lease and repurpose the building for alternative uses
Zoning
The property is zoned 'Mixed Use R-AC0' under the City of Stirling's Local Planning Scheme No. 3 and resides within the 'Scarborough Beach Road West' Local Development Plan. The plan outlines that should this property be developed that the minimum build height would be 3 stories and the maximum height 5 stories under the current zoning. The development would consist of commercial/retail on the ground floor and residential only above this.
The document can be accessed via the link below.
Location
The property resides at the high point of Scarborough Beach Road with ocean views and fantastic access to the iconic Scarborough beach coastline. The property also enjoys excellent access to both Karrinyup & Innaloo shopping centres and is walking distance to local popular bars & cafes.
The property is a rare commercial offering within the highly sought suburb and is just;
- 1.7kms* from the Scarborough coastline & entertainment strip
- 260 metres* from a Terry White Chemist & local IGA
- 900 metres* from St Brigid's Bar & The Corner Dairy
- 2.4kms* from Karrinyup Shopping Centre
- 11.3kms* from Perth CBD
- Next door to 'Little Seaview café' & 3 doors up from 'Pizzaca Pizzeria'
Legal Description
Lot 440 on Plan 3168 Volume 1031 Folio 976
Method of Sale
The property is being sold via Offers Invited
For further information please contact the exclusive selling agent Luke Randazzo on 0417 181 309.
