Burgess Rawson are pleased to present to the market for sale via Offers Invited 290 304 Whatley Crescent, Maylands. This substantial development site comprises 9 lots sold in one line totalling 5,155sqm of land fronting Whatley Crescent from Ferguson Street to Charles Street.
The site would suit a large variety of possible uses with the City of Bayswater currently commencing a scheme review. It is likely that the sites are rezoned to 'Residential R80' enabling developers to construct a multi-level residential complex given the close proximity to both Meltham & Maylands trains stations. Buyers are encouraged to make their own planning enquiries.
Features
Huge 5,155sqm site
'Corner to Corner block'
Multitude of possible uses
Holding income derived from Funeral Home
Outstanding accessibility to public amenity
Rare opportunity to acquire such a significant parcel of land
Minutes to the Perth CBD
Zoned: General Industry'
Zoning
The properties are zoned 'General Industry' in accordance with the City of Bayswater District Town Planning Scheme No 24.
Income
Two of the 9 lots are leased to long-standing tenant 'Invocare Australia Pty Ltd' Trading as 'Christian Funerals'
The Tenant is in their final 5 year option that commenced on the 18th January 2023 and expires on the 17th January 2028.
The current net income is $123,909.48 pa with annual CPI increases.
Sales Process
The properties are offered in one line via an Offers Invited campaign closing on the 18th July 2024.
For further information please contact the exclusive selling agents Luke Randazzo & Ben Flanagan on 0417 181 309 & 0405 929 167.
