A modern commercial property in East Perth, situated in a commanding position on the busy roundabout of Brook and Plain Streets and East Parade and overlooking the landmark ‘The Impossible Triangle’ sculpture, has sold for $10.45 million.
The two-level office building at 2 Brook Street has 2,676sq m of net lettable area and 62 secure basement car bays on a 1,974sq m site with triple street exposure.
It was purchased by Southern Cross Care, which intends to occupy the vacant tenancy, in a deal negotiated by Tony Delich of Knight Frank in conjunction with Eric Rogers of Metway Real Estate on behalf of a private seller.
The asset is currently leased to three tenants including Globe Data Analytics Pty Ltd, accounting and financial planners Tilenni Stiles & Associates, Clairs Keeley Lawyers and the Minister for Works (Department of Education), with one vacant tenancy.
Completed in 2000, 2 Brook Street is prominently positioned within East Perth’s established office precinct, surrounded by major state government occupiers, the Chinese Consulate and nearby lifestyle amenity including Claisebrook Cove, offering a variety of food and entertainment options, and surrounding riverside parklands including Tea Tree Lagoon directly opposite the building.
Mr Delich said the property attracted strong interest from both investors and owner occupiers throughout the sales campaign.
“The property’s prominent location, existing income stream and growth potential resonated strongly with buyers,” he said.
“The building offers excellent exposure at one of East Perth’s busiest intersections, while also providing substantial accommodation and parking in a tightly-held office precinct.
“The eventual purchaser was attracted to the opportunity to secure a well-presented office asset that can support their future business operations while benefiting from the property’s strategic location and strong surrounding amenity.”
Mr Rogers said owner occupier demand for quality office accommodation remained strong.
“Opportunities to acquire a building of this scale and quality within East Perth are relatively rare,” he said.
“The property’s wide street frontage, excellent natural light, secure parking and proximity to key government and commercial occupiers were significant factors in driving buyer interest.
“Its location adjacent to major transport links and nearby amenities, combined with the future occupation potential offered by the vacant tenancy, made it an attractive proposition for the successful purchaser.”
Related Articles
