Sterling Property is delighted to exclusively present 38 Haynes Street, Kalamundaan exceptional opportunity for investors seeking stability, growth and long-term development potential. This fully leased strip retail / commercial property is anchored by Liquorland and strategically located on the prominent corner of Canning Road and Haynes Street. Boasting a rich history, this asset is being offered for the first time in over 50 years. Offers close Wednesday, February 12th, 2025, at 4:00 PM (AWST), unless sold prior.
Key Features
Land Area: 2,484sqm
Net Lettable Area (NLA): 805.40sqm
Passing Net Income: $232,533.51 per annum approx.
WALE: 2.05 years approx. (based on years).
Tenancy Details: 100% leased to longstanding tenants, including Liquorland, Quik Kleen Dry Cleaners, Old Mate's Café, Building Friendships, and Professionals Kalamunda.
Rental Reversion Opportunities: Potential for rental uplift over time.
Zoning: R-AC3 Centre within the Kalamunda Town Centre Design Guidelines.
Future Development Potential: R-AC3 coding with a 4-storey height limit (STCA).
Prime Corner Location: High visibility with significant passing trade. Adjacent to Bunnings and close to Kalamunda Central Shopping Mall.
Investment Highlights
Exceptional Location
Positioned at the bustling corner of Canning Road and Haynes Street, this landmark property enjoys unparalleled visibility and accessibility. Surrounded by major retailers such as Bunnings, Coles, and IGA, it benefits from consistent foot and vehicle traffic, enhancing customer attraction for tenants.
Secure Income Stream
With an annual net income of $232,533.51 this fully leased asset provides investors with a stable and attractive yield. Four of the five tenants have been in place since the property's construction, demonstrating its desirability and the tenants' long-term commitment.
Development Opportunity
The property's R-AC3 zoning under the Kalamunda Town Centre Design Guidelines permits up to four-storey developments (STCA), unlocking future potential for redevelopment and higher returns.
Strong Market Growth
Kalamunda, located 24km southeast of the Perth CBD, is a vibrant and thriving suburb. With a 2023 estimated resident population of 62,670, the area boasts a compound annual growth rate of 18.3% for houses and 3.0% for units, reflecting its strong demand and investment appeal.
Tenancy Mix
The property features a balanced mix of retail and service tenants, each contributing to the asset's stability and customer draw:
Liquorland (Anchor Tenant): Premier liquor retailer.
Quik Kleen Dry Cleaners: High-quality garment care.
Old Mate's Café: Popular local eatery.
Building Friendships: Community support for individuals with disabilities.
Professionals Kalamunda: Established real estate agency.
Why Invest in Kalamunda?
Kalamunda's vibrant community, coupled with its strategic location near Perth, makes it a hotbed for retail and commercial activity. The surrounding businesses and amenities drive significant foot traffic, while the area's growth trajectory ensures a robust market for years to come.
For Sale via Offers Invited
Offers close Wednesday, February 12th, 2025, at 4:00 PM (AWST), unless sold prior.
Don't miss this rare opportunity to acquire a prime retail asset with an enviable track record and exceptional future potential.
For more information or to arrange an inspection, please contact:
Jack Bradshaw
Senior Partner, Sterling Property
M: 0439 095 336
E: jbradshaw@sterlingproperty.au
