A well-known tavern in Perth’s north, The Alexander Bar and Bistro, has sold following a sales campaign that generated multiple offers.
The 4,659sq m establishment at 322 Alexander Drive in Ballajura features a spacious bistro, a lively sports/TAB bar, a refurbished beer garden, a children’s playground and a convenient drive-through Bottlemart.
It occupies a 1,200sq m site across the road from the Ballajura IGA, around 15 kilometres north of the Perth CBD.
The asset was purchased by the owner running The Alexander Bar and Bistro business in a deal negotiated by Jonathan Wong and Cory Dell’Olio of Knight Frank on behalf of the vendor, The Alexander Freehold Pty Ltd.
The price guide for the property was $5 million-plus.
Mr Wong said the Offers to Purchase campaign had yielded significant buyer interest from a wide range of parties based locally and interstate, including investors and owner operators.
“We had multiple enquiries and offers, but ultimately it was sold to the current occupier,” he said.
“The Alexander Bar and Bistro has been a very popular local business servicing the local growing area for 12 years, since it opened in 2013.
“The buyer intends to continue running the business, while also looking at opportunities to further develop the very large site in the future.
“The property will also provide some income, with rent coming in from an Optus tower on the site.”
Mr Dell’Olio said the property was in a strong growth area, which would underpin patronage at the tavern in coming years, as well as future capital growth for the asset.
“More housing and infrastructure projects are in the pipeline for the area, which will lead to a rise in population figures and make the area more desirable,” he said.
“We are finding that in the current market buyers are looking for properties in well-located growth areas, where there is greater potential for capital value gains.
“The Alexander Bar and Tavern is in a great location, close to amenity including local shopping centres, schools, parks and recreational facilities.
“The Alexander also benefits from a local bus stop less than 50 metres away, while the recently completed Ballajura Station connects Ellenbrook to the Perth CBD and is just a few minutes’ drive away.”
The WA State Government is encouraging the construction of over 1,000 new affordable homes, which will benefit the Ballajura area.
Meanwhile, the City of Swan has begun construction on a $6.5 million intergenerational play space in Ballajura, designed to provide a fun and engaging environment for people of all ages, which is an added attraction for the area.
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