1-2/15 Altona Street, West Perth WA 6005

Key Details
• Total lettable area: 1,181 sqm
• Net income: $397,500 p.a. + GST
• Net yield from 6.74%
• Total rent: $354,300 p.a. + GST
• Car bay income: $43,200 p.a. + GST
• Tenant: Saturn Pathology
• Triple net lease
• Lease expiry: 31 July 2031, with a further option to 31 July 2034

An outstanding opportunity to secure an established medical investment in the tightly held commercial precinct of West Perth.

Comprising Lots 1 and 2 at 15 Altona Street, the property presents an attractive income-producing asset occupied by Saturn Pathology, a recognised Western Australian medical laboratory specialising in mobile, appointment-based blood collection services.

Positioned within an established commercial and medical precinct, the property benefits from convenient access to West Perth, the Perth CBD and surrounding business districts. Its strategic location supports accessibility for staff, medical practitioners and visitors, while offering investors exposure to the established healthcare sector.

The property provides a substantial income stream underpinned by an established medical tenant, supported by contractual annual rent reviews linked to CPI plus 1%. With a lease term of 5 years, extending to July 2031 and a further option period to July 2034, the investment offers an opportunity to secure ongoing income with the potential for future rental growth.

The asset also benefits from dedicated car parking income, providing an additional revenue stream and enhancing the overall investment profile.

Investment Highlights
• Established medical tenant: Occupied by Saturn Pathology, a Western Australian medical laboratory providing blood collection services.
• Attractive income profile: Net income of $397,500 per annum, plus GST, as advised by the seller.
• Substantial landholding: Combined area of 1,181 sqm* across Lots 1 and 2.
• Secure lease tenure: Current lease expiry of 31 July 2031, with a further option extending to 31 July 2034.
• Contractual rental growth: Annual rent reviews based on CPI plus 1%, with market reviews at renewal.
• Additional parking revenue: Dedicated car bay income of $43,200 per annum, plus GST.
• Strategic location: Situated in West Perth, with convenient connectivity to the Perth CBD and surrounding commercial precincts.
• Healthcare sector exposure: An opportunity to invest in an established medical use within a sought-after commercial location.

Property Details
• Asset class: Medical
• Lot 1 lettable area: 775 sqm
• Lot 2 lettable area: 406 sqm
• Combined lettable area: 1,181 sqm
• Current tenant: Saturn Pathology
• Lease expiry: 31 July 2031
• Final option expiry: 31 July 2034
• Annual rent: $354,300 + GST
• Car bay income: $43,200 + GST
• Net income: $397,500 + GST
• Outgoings: $102,496.43 including GST

For further information or to arrange an inspection, please contact Selling Perth Property.

Disclaimer: The information contained herein is provided for general information purposes only and has been prepared using information supplied by the seller. While every effort has been made to ensure accuracy, no warranty or representation is made as to the completeness or accuracy of the information. All figures, areas, income details, lease terms and other particulars are subject to verification. Interested parties should undertake their own independent enquiries and satisfy themselves as to the accuracy of all information before proceeding.