Mt Henry Tavern site - first time offered for sale in 32 years!
RWC WA and Ascend Corporate are proud to present for sale one of the most anticipated freehold hotel investment offerings in recent years. A site of some 11,299sqm* having the benefit of four street frontages and situated in the riverside suburb of Como and is less than 8kms from the Perth CBD is being offered to the market for the first time in 32 years.
The site is partially occupied by the Mt Henry Tavern with that portion of the land being the subject of a lease to Golden Hotels Pty Ltd. A family-owned company that are very experienced hoteliers and highly regarded within the industry. Golden Hotels Pty Ltd owns and operates several other hotels/taverns both in the Perth Metro area and country WA.
The property falls within the City of South Perth and City of Melville joint development precinct known as the Canning Bridge Activity Centre Plan (CBACP). CBACP is a guide for land use and development within the 'activity centre' area in six specified precincts, which aims to establish the foundation for the future of the area and an implementation framework for improvements to infrastructure and land over time. The site has been designated as Mixed Use up to 10 storeys with discretionary height concessions up to 15 storeys subject to council approval.
The property features are:
• 100% freehold interest
• Land area: 11,299sqm*
• The property comprises a single level tavern building of some 886sqm* plus a covered drive-thru
• Leased area - that part of the lessor's land known as the Mt Henry Tavern - lettable area 5,575sqm*
• Lease Term - 1 July 2023 - 30 June 2028
• Option Term - 1 July 2028 - 30 June 2033
• Current Rental - $411,764 per annum plus GST
• Redevelopment clause in the lease
• Zoning; City of South Perth, Town Planning Scheme No. 6 - Canning Bridge Activity Centre
The tavern improvements include:
• Public bar
• Lounge bar
• Bistro dining area
• Drive-thru bottle shop
• Managers office commercial kitchen facility
• Cool rooms
• Dry store
• Male & female ablutions
• Enclosed service yard
For further information or to arrange an inspection please contact the agents:
Lance White
Ascend Corporate
0413 734 177
lance@ascend.com.au
*Approximate
