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Coolbellup, 2/78 Coolbellup Ave

Leased investment with premium return!

Sold for $900,000

Listing Number: NRP2682
About this listing
Coolbellup Shopping Centre Location.

On offer is a property which has provided current owners with a strong financial return over many years. The current tenant is a well- established Pharmacy who has recently refurbished the premises with the view of expanding the business.
The property is conveniently situated in the Coolbellup Shopping Centre, with an IGA supermarket as the anchor tenant and surrounded by a medical suite including pathology, newsagency, Chinese Restaurant, barber, butcher, bakery lunch bar etc and adjacent to child care centre and more. The property is well located at the entry of the mall guaranteeing good customer flow.
The surrounding area is set to undergo massive revitalisation under City of Cockburn Town Planning Scheme No3 - Amendment 105. This scheme will increase the population density surrounding the shopping centre with higher R code zonings, ensuring higher residential capacity.

Coolbellup Shopping Complex has large surplus land holdings and it is ripe for further expansion, development or further subdivision by the strata company/owners.

Key Features
Location - Situated within the Coolbellup retail precinct on the corner of Waverley Road & Coolbellup Avenue. Easy access is via Stock or North Lake Roads from South Street or Farrington Road from the Kwinana Freeway.

Property size- 204sqm (approx)

Lease Term - Commencement date 1 July 2013 - Expiry date 30 June 2018 plus 5 year option to June 2023.

Rental - $94,895 PA + GST + Outgoings

Asking Price -$1,295,000 = 7.5% net return (approx.).
Property Information
  • Floor Area: 204 sqm
  • Land Size: 204 sqm
  • Property Type: Retail

Contact Details

NAI Harcourts Realty Plus

10, 2 Lancaster St

Property Location

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