55 Stirling Highway, Nedlands WA 6009

Outstanding Investment Development Opportunity

Offers closing by 2 pm on Monday 12 May 2025

Situated on an expansive 1024 sqm corner block, "Portland Flats" represents a unique opportunity to secure a strategic investment in the sought-after garden suburb of Nedlands.

Built in 1940 and designed by renowned architect Harold Krantz, this Inter-War Functionalist-style building offers immense potential for redevelopment, or renovation. With distinctive architectural features, including a vertical tower, and curved corners, this character property is ideally positioned close to local amenities, transport, and the city centre. Perfect for investors, developers, those looking to significantly add value through upgrades, or secure a family building for generations.

This unique property consists of 5 apartments (from 73 to 186 sqm) plus a huge attic (concrete floor over 270 sqm) and an external lift shaft. The attic could give scope for the addition of more apartments or one grand penthouse looking north over Nedlands to QE2 Hospital (STCA).

Zoned R-AC1, in a prime and highly visible site.

Apartment Highlights:

Apartment 1 (Ground Floor - 73 sqm internal):
• 1 bedroom + 1 study
• Sunroom / Potential Bedroom 2
• Living area with fireplace
• Kitchen / dining

Apartment 2 (Ground Floor - 90 sqm internal):
• Spacious 2 bedrooms
• Large living area
• Sitting room / sunroom
• Kitchen / dining
• Original timber specification

Apartment 3 (Ground Floor - 76 sqm internal):
• 2 bedrooms + 1 study
• Living area with fireplace
• Kitchen / dining area

Apartment 4 (First Floor - 186 sqm internal):
• Expansive 3 bedrooms + 1 study
• Multiple living areas
• Large kitchen, separate dining / activity
• Bathroom with tub
• Laundry
• 2 toilets
• Character features throughout
• A touch of "Hollywood"

Apartment 5 (First Floor - 76 sqm internal):
• 2 bedrooms + 1 study
• Living area with fireplace
• Spacious kitchen
• Facing Portland Street

Attic Space (Second Floor - 270 sqm total area):
• Large open-plan space, on concrete floor
• Ideal for additional residential accommodation or storage (subject to council approval)
• Unique opportunity rarely seen in similar properties

The apartments and attic are on one title.

This property offers rental income and capital appreciation potential through strategic redevelopment or renovation.

The property is being sold on an "as is, where is" basis.

Virtual links and information pack are available on request (please provide phone number and email).

Contact Chris Shellabear 0418 910 065 or Tracy Lee 0411 166 001.

Rates (approximate):
Council Rates: $12,792.95 pa
Water Rates: $5,253.25 pa