1/165 Marine Terrace, Geraldton WA 6530

Tenanted CBD Investment

Capitalise on the opportunity to secure a tenanted CBD investment property, on sought-after Marine Terrace in the West End.

Currently occupied long-term by iconic local business Mick Davey Butchers, with a lease in place, and a solid return of $32,851pa + outgoings. Further lease details can be made available to qualified buyers.

An additional 319m2 portion of land, separate to the main building, is located to the rear of the strata lot, giving potential for carparking, or further development.

This property is zoned 'Regional Centre', opening it up to a variety of uses should it become vacant, including office, consulting, medical, fast food, restaurant / cafe, small bar, dry-cleaning, and more, subject to approvals.

Buyers would be well advised to consider the potential uplift to the area, given the proposed $31 million dollar "West End Precinct" development mere metres away. Further information can be found here:

https://prod-dplh-media.s3.amazonaws.com/docs/default-source/daps/20231219-agenda-no-124-city-of-greater-geraldton.pdf?sfvrsn=aada8046_7

For further information about this tidy commercial investment property, please call Matt Poynton on 0437 770 301.

Note: Boundaries in images are indicative only. This is a strata lot, and a heritage classification applies. Buyers should do their own independent due diligence to ensure the suitability of the property to their individual requirements.