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MLV, in conjunction with McGees Property Perth as exclusive agents, are pleased to present to the market 246 Adelaide Terrace, East Perth.
The property comprises a multi-level commercial building configured as three (3) separate strata-titled lots, offered for sale in one line.
This represents a rare and highly flexible investment opportunity, providing scope for repositioning of the existing improvements in the short-term, while also securing long-term redevelopment potential associated with ownership of an 1,812 sqm site fronting the prestigious Adelaide Terrace.
The land is zoned Office/Residential under the City of Perth Town Planning Scheme No. 2 (TPS2), with a plot ratio of 4.0:1.
While prospective purchasers should rely on their own enquiries with the City of Perth regarding permitted and discretionary uses, a range of uses have previously been approved/explored, including
Class 9B (training/assembly), ground-floor retail, and a 13-level hotel development.
Further enhancing the asset's flexibility is the ability for an owner-occupier to utilise portions of the building while concurrently exploring leasing, redevelopment or repurposing opportunities within other areas.
In addition, where the separate strata title configuration is retained, there is the potential to progressively sell individual floors, thereby enabling staged capital realisation and risk mitigation.
Property Highlights
Ground Floor Retail and Activation Potential
Strata Lot 1 (1,046 sqm) incorporates the basement, ground floor, and mezzanine levels, presenting an opportunity to activate the ground floor for retail, showroom, or hospitality uses (STCA), with prominent exposure to Adelaide Terrace.
Basement: previously utilised for storage, including a 155 sqm walk-in safe
Ground Floor: 636 sqm
Mezzanine: 255 sqm
Upper Levels
Strata Lot 2 - First Floor (650 sqm): Currently configured as office accommodation, including reception, boardroom, meeting rooms, private offices, open-plan work areas, and dedicated amenities.
Strata Lot 3 - Second Floor (668 sqm): Comprising reception, boardroom, meeting rooms, private offices, open-plan work areas, and dedicated amenities.
Each level is self-contained and well suited to single or multiple tenancy arrangements, owner-occupation, or future reconfiguration.
The property is supported by 31 car bays.
While sentiment within the office sector is beginning to show early signs of improvement, this offering extends well beyond a conventional office investment.
The asset represents a genuine, once-in-a-cycle opportunity for an astute purchaser who recognises its broad potential in the short-term but is also looking to secure a substantial and strategically located site within Perth's CBD for the longer term.
For further information or to arrange an inspection, please contact the exclusive agent David Lamb on 0411 597 952, or Tony Gorman, Licensed Valuer and Director of Agency, on 0403 589 994.
Remember to mention you found this property on CommercialReady
MLV, in conjunction with McGees Property Perth as exclusive agents, are pleased to present to the market 246 Adelaide Terrace, East Perth.
The property comprises a multi-level commercial building configured as three (3) separate strata-titled lots, offered for sale in one line.
This represents a rare and highly flexible investment opportunity, providing scope for repositioning of the existing improvements in the short-term, while also securing long-term redevelopment potential associated with ownership of an 1,812 sqm site fronting the prestigious Adelaide Terrace.
The land is zoned Office/Residential under the City of Perth Town Planning Scheme No. 2 (TPS2), with a plot ratio of 4.0:1.
While prospective purchasers should rely on their own enquiries with the City of Perth regarding permitted and discretionary uses, a range of uses have previously been approved/explored, including
Class 9B (training/assembly), ground-floor retail, and a 13-level hotel development.
Further enhancing the asset's flexibility is the ability for an owner-occupier to utilise portions of the building while concurrently exploring leasing, redevelopment or repurposing opportunities within other areas.
In addition, where the separate strata title configuration is retained, there is the potential to progressively sell individual floors, thereby enabling staged capital realisation and risk mitigation.
Property Highlights
Ground Floor Retail and Activation Potential
Strata Lot 1 (1,046 sqm) incorporates the basement, ground floor, and mezzanine levels, presenting an opportunity to activate the ground floor for retail, showroom, or hospitality uses (STCA), with prominent exposure to Adelaide Terrace.
Basement: previously utilised for storage, including a 155 sqm walk-in safe
Ground Floor: 636 sqm
Mezzanine: 255 sqm
Upper Levels
Strata Lot 2 - First Floor (650 sqm): Currently configured as office accommodation, including reception, boardroom, meeting rooms, private offices, open-plan work areas, and dedicated amenities.
Strata Lot 3 - Second Floor (668 sqm): Comprising reception, boardroom, meeting rooms, private offices, open-plan work areas, and dedicated amenities.
Each level is self-contained and well suited to single or multiple tenancy arrangements, owner-occupation, or future reconfiguration.
The property is supported by 31 car bays.
While sentiment within the office sector is beginning to show early signs of improvement, this offering extends well beyond a conventional office investment.
The asset represents a genuine, once-in-a-cycle opportunity for an astute purchaser who recognises its broad potential in the short-term but is also looking to secure a substantial and strategically located site within Perth's CBD for the longer term.
For further information or to arrange an inspection, please contact the exclusive agent David Lamb on 0411 597 952, or Tony Gorman, Licensed Valuer and Director of Agency, on 0403 589 994.
Remember to mention you found this property on CommercialReady
246 Adelaide Terrace, East Perth, WA, 6004
Secure/no obligation
Step 1
Loan Variables
Adjust the inputs to explore your indicative finance options.
Estimated Purchase Price:
What you intend to pay for the property
Your Contribution:
The amount you’re investing
Min: 0% - Max: 90% of purchase price.
LVR:
Loan to Value Ratio
Min: 10% - Max: 100% of purchase price.
Loan Analysis
Yield Calculator
Yield Calculator
Step 1
Loan Variables
Adjust the inputs to explore your indicative finance options.
Estimated Purchase Price:
What you intend to pay for the property
Your Contribution:
The amount you’re investing
Min: 0% - Max: 90% of purchase price.
LVR:
Loan to Value Ratio
Min: 10% - Max: 100% of purchase price.
Loan Analysis
Full report
Please see your Loan Analysis below. The report has been emailed to you, as well as DIG Capital Advisory and the Listing Agent to follow up if needed.
Loan Analysis
