Development For Sale Hampton Road, Fremantle Ad:998803

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AUD$ 899,000

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Development
For Sale
Hampton Road, Fremantle
Australia

For Sale Investment Opportunity…

Ref: Hampton Road, Fremantle, Western Australia, 6160

Two Shops - 134A approx. 67sqm and 134B approx. 62 sqm of a strata plan on one common land parcel, noting that a strata plan is not strata titled, so no need for a strata management or fees.

134A consists of a one bed apartment with front showroom �` Leased to a Wall Coating business. Other shop is
leased to a specialised bakery. 134A lease is current to June 2027 and 134B is current to June 2028

Both shops in total showing a current gross return of $54, 873 p.a. minus council and water rates and building insurance showing a net return close to $48,000 with annual CPI or inflation rent adjustments built in whereby approaching July 2024, net return would be close to $51,000. In other words, all outgoings are paid by tenants.

Zoning of land is mixed use or Commercial/Residential.

When viewing front of property, total width of land, tape measure 500mm L.H side of building to far R.H side of gate of adjoining boundary wall building. Noting, total depth of land is from front road kerb to rear boundary where car park paving meets crossover. These rare pieces of land actually include the front footpath area, meaning, footpath area is owned for say future use of say table and chairs without paying council costs to use.

Property has two street frontages, parking at rear for 4 cars. The rear street consists of well sought after residential properties �` medium price in excess of one million dollars.

The property has potential for a rear mezzanine one bed studio apartment situated over the current 4-bay parking area. Or a future development plan: Knock-down two existing buildings; erect in place, two residential apartments with two shops or showrooms underneath.

Noting: Land value alone would be $820,000 plus based on two separate lots of $410,000 being a wide frontage, added onto that of today’s building costs $2000 per sqm x 129sqm = $258,000 - A total replacement cost of more than $1,078,000

Asking price from $899,000 negotiable - Finance from a local broker from 4%, contact details offered.

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