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RWC is please present for sale, Cale House, 52 The Crescent, Midland, a three level A Grade commercial office building, with ground level retail comprising a total Net lettable Area of 4,030sqm.
The property is prominently positioned at the intersection of Cale Street and The Cresent, directly opposite Midland Gate Shopping Centre in the heart of Midland.
This multi tenanted asset provides a diverse income stream anchored by blue chip occupants including State Government, Crust Pizza and Baskin Robbins.
The property has a net passing income of $1,249,807p.a and a short term WALE of 2.02 years (based on area) providing a unique opportunity for owner occupiers or an astute investor to reposition the asset for future capital gains.
Property Highlights:
• A Grade Office/ retail development
• Building Area 4,030sqm (NLA)
• 67 secure basement bays Including 2 Accessible bays
• Net Passing income $1,249,807 pa (based on 98% occupancy)
• WALE of 2.02 years (based on Area)
• Office tenant (2,990sqm) to vacate February 2025
• Opportunity for owner occupies to secure their corporate headquarters, or investors to re-let or reposition at market reversions /or a combination of both
• Large office floor plates with central service core allowing for flexibility in subdivision
• High quality office fitout
• Gateway Satellite City servicing Perth's the eastern corridor
• Highly sort after by Not for Profits, Government Agencies, Health and Age Care providers
• New Train station relocation to Cale Street
The property is for sale by Offers Invited.
For further information or to arrange an inspection please contact the Agents:
Luke Pavlos
RWC (WA)
Mobile: 0408 823 823
Email: luke.pavlos@raywhite.com
Brett Wilkins
RWC (WA)
Mobile: 0478 611 168
Email: brett.wilkins@raywhite.com
Remember to mention you found this property on CommercialReady
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