838 North Lake Road, Cockburn Central WA 6164

LEASED INVESTMENT WITH DEVELOPMENT OPPORTUNITY

DFR Commercial is pleased to present to the market this unique opportunity, offering a range of options for investors, developers and owner-occupiers alike. The property provides an attractive short-term commercial investment with holding income, while offering significant longer-term redevelopment potential. It also presents an excellent opportunity for an owner-occupier looking to secure a strategically located site for their future requirements.

The property comprises a substantial 4,625m² landholding, improved by a high-truss warehouse currently utilised as a showroom by Pots WA, a well-established local business. With excellent exposure to a major arterial road, Main Roads WA data confirms that more than 27,000 vehicles pass the site each week, providing outstanding exposure and profile for the property.

TENANCY DETAILS
• Nett Annual Rental: $138,020 p.a.
• Lease Commencement: 1 July 2020
• Lease Expiry: 30 June 2030
• Further Terms: Nil
• Rent Reviews: 3% annually

PROPERTY FEATURES
• Total Land Area: 4,625m²
• Building Area: 480m²* high-truss warehouse
• Additional unapproved mezzanine area
• Extensive quality laydown and hardstand area
• Fully fenced and secure site
• Excellent main road exposure

ZONING & DEVELOPMENT POTENTIAL
Under the current Town Planning Scheme No. 3, the property is zoned Development, the front portion of the lot comprises Mixed Business zoning, while the rear portion is zoned High Density Residential R160, providing potential for a range of future development.

This is a rare opportunity to secure a substantial landholding with existing holding income, excellent main road exposure and significant future redevelopment potential

Please refer to the link below:
https://www.cockburn.wa.gov.au/Building-Planning-and-Roads/Town-Planning-and-Development/Structure-Plans/Current-Development-Projects/Cockburn-Central-North-(Muriel-Court)

In relation to the development contribution, we have confirmed with the City of Cockburn that the site would be liable to contribute based on the following:
• Potential 11 lots of x $21,979.28 per lot
• Commercial contribution would be $4,045.84 per additional lot if you were to redevelop the site

Please refer to the link below:
https://www.cockburn.wa.gov.au/Building-Planning-and-Roads/Developer-Contributions

Approximate annual outgoings: Council rates $7,204.37, water rates $464.53, insurance $3,485.15 and land tax $1,599.00, Total $12,753.05


*Approximate

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