A high-quality, versatile commercial building is being offered for sale in the highly sought-after Royal Street precinct in East Perth. The asset represents a rare opportunity to acquire a well-located office space with a secured annual passing net income.
The asset, located at 130 Royal Street, East Perth, is a modern four-level commercial office building situated in the prime corner of Royal and Brook Streets on the eastern edge of Perth’s CBD. Comprising 1,891 sqm of light-filled office space with flexible floorplates, multiple balconies and 27 undercover car bays, the property is zoned for a wide range of commercial uses and is ideally suited for investors, and potential owner-occupiers.
The Royal Street precinct continues to attract strong interest due to its connectivity, lifestyle amenity, and emerging growth. The property is well-connected via the free CAT Bus service and offers seamless access to the Perth CBD, Graham Farmer Freeway, and Claisebrook Station, benefiting from strong exposure to both pedestrian and vehicle traffic. Lifestyle and commercial amenities are within walking distance, including Claisebrook Cove, riverside parklands, and the popular Royal Street café strips.
Barney Dear, Director, Capital Transactions at Savills Australia and New Zealand comments, “With the recent addition of the 33,500 sqm Nine The Esplanade into the market, Perth’s CBD office vacancy rate is currently sitting at 17% however, we are forecasting this to improve, with no new significant office development expected within the next five years.
“Demand for fitted, well-located office suites remain strong, and the Royal Street precinct continues to attract government, professional, and community tenants. This resilience and tenant appeal highlight the long-term value of 130 Royal Street as both an investment and future owner-occupier opportunity.” Mr. Dear said.
130 Royal Street, owned by commercial property fund manager, APIL, is partially leased to a diverse range of professional and corporate tenants, including Valenti Lawyers, Jamukurnu-Yapalikurnu Aboriginal Corporation (JYAC), BCI Central and Frontier Software. The building has a fully leased net income of in excess $800,000*.
Jackson Ferri, Executive, Commercial Sales at Savills Australia and New Zealand said, “While current occupancy is modest, the asset is underpinned by a diverse tenant mix and generates steady holding income. More importantly, it presents a unique opportunity for an investor to reposition the property, capitalise on leasing upside, or transition it into an owner-occupier headquarters. The flexible layout, building condition, and strategic location make it a standout value-add play.”
130 Royal Street is being offered for sale via Private Treaty with offers expected in excess of $9.5 million.
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