Prominent Office Investment Opportunity Arrives to Market in Midland, Western Australia
2 October 2024Cale House currently occupied by The WA State Government Department of Communities for sale in Midland town centre.
Global diversified professional services and investment management company, Colliers, is pleased to announce the launch of a sale campaign for Cale House, located at 52 The Crescent, Midland.
This three-level office and retail building, with a total lettable area of 4,050m², offers a unique investment opportunity in a rapidly developing area, Midland, Western Australia.
Colliers State Chief Executive Western Australia, Richard Cash and Director of Investment Services, James Baker are appointed to sell the building which has housed The Department of Communities for almost 12 years.
Cale House is ideally situated in central Midland, a short walk from the Midland Train Station, which is currently undergoing major upgrades as part of the State Government’s METRONET project.
Mr Cash said “The property occupies a prominent corner site in central Midland, benefiting from its proximity to Midland Gate Shopping Centre and St John of God Midland Hospital. Additionally, the major upgrades to the Midland Train Station as part of the State Government’s METRONET project will significantly enhance walking connectivity to Cale House, Midland Gate Shopping Centre and Midland Health Campus. These improvements will greatly benefit the surrounding community and boost local business, making Cale House an attractive investment opportunity.”
Occupying a prominent corner site, Cale House is a three-level office building with ground floor retail and basement car parking located near key amenities such as Midland Gate Shopping Centre, St John of God Hospital, and Curtin University Midland Campus. The property is multi-tenanted, providing a diverse income stream from blue-chip occupants, including the State Government on a short-term lease, Crust Pizza, and Baskin Robbins.
Mr Baker highlights, “This is a great opportunity for the astute buyer to purchase a modern office and retail building with a fantastic ground floor retail mix and a State Government tenant over two floors on a short-term lease.”
The building features eight ground floor retail tenancies, with only one vacancy. The two floors of office space are well presented and fully fitted out office space.
Mr Baker commented, “While the State Government will vacate in August 2025, this presents an opportunity for a future owner-occupier, or the chance to plan for repositioning the office floors, providing the buyer with the flexibility to undertake a medium-term leasing campaign.”
The City of Swan is Perth’s largest local government by land size, covering almost 20 per cent of the Perth metropolitan area. The City has one of the fastest growing populations in WA, with the population expected to soar from around 168,000 in 2023 to almost 300,000 by 2050 meaning opportinities like Cale House will be there to service this boom in population growth (City of Swan).
Cale House is Offered for Sale via Expressions of Interest closing Wednesday 23 October at 2:00 pm (AWST).