Located on the bustling Great Eastern Highway in Midland and fronting Victoria Street as well, this retail property offers a prime opportunity for investors or business owners looking for a high-traffic location. The property boasts a generous land area of 841sqm*, providing ample space for a variety of retail ventures.
The architecture of the building is eye-catching, with a unique design that offers multiple opportunities in the future is sure to attract customers. This Midland Icon Property is now offered for sale for the first time in over 50 years.
The site contains two separate titles with three buildings, being two commercial shops facing Great Eastern Highway. One which has an extensive first floor residence, plus a large shed which is to the rear of both properties.
The rear of this property offers future multi story redevelopment options (STDA) and whilst this property is located in the City of Swan and also part of the Midland Activity Center Structure Plan any Planning approval for the property is part of the MetroNet East - Victoria Street North Precinct and done so via Development WA.
The first floor residence has been occupied by the owner and is being sold as vacant possession. This is a very large residence of 180sqm* with high ceilings, wooden floors and 3 original fire places.
The two ground floor shops are currently leased to two separate computer shops, both have been operating from the building for many years.
To the rear of the property is a large shed (currently leased separately) which fronts Victoria Street.
This site offers the benefit of holding income for those wishing to redevelop the site.
For those who are seeking the opportunity to occupy the property both residentially and also commercially they have this option as well.
The site has a grossed up rental income of over $82,000 PA and the ability to increase this via the first floor residential rents for those choosing to do so.
Don't miss out on this chance to own a prime retail property in Midland. For further information and the Information Memorandum about the site please contact Cambell Giles at Realmark Commercial.
*All sizing is approximate.
