A building in Perth’s CBD that was previously occupied by the Western Australia Police is now being taken to the market with vacant possession.
The five-level office building at 79 Stirling Street, which was built in 1970, has 2,397sq m of net lettable area on a 951sq m site fronting the tree-lined boulevard, with 19 car parks at the rear.
It is close to the Perth Train Station, Perth Bus Port, Malls and Northbridge entertainment precinct.
The property is being taken to the market via an Offers to Purchase campaign run by Tony Delich of Knight Frank in conjunction with Eric Rogers of Metway Real Estate on behalf of the vendor, GFC Properties Pty Ltd.
Price expectations are for offers from $7.5 million.
Mr Delich said 79 Stirling Street would appeal to both owner-occupiers and investors.
“The current office fitout is functional and suited to owner occupiers, with the ability to upgrade facilities and reconfigure the existing office layout,” he said.
“The property also offers upside in the form of future development potential, which will also attract interest from investors and developers.
“Potential buyers may also see the value in repurposing the building for another use, such as accommodation, subject to council approvals.”
Mr Rogers said the Stirling Street location of the property allowed businesses to tap into the resources of the CBD and enjoy the advantages of a central location.
“The Stirling Street precinct offers connectivity with direct access to key transport infrastructure, as well as major arterial roads,” he said.
“James Street Mall is a short walk away and connects the property to the Perth Cultural Centre, State Library, WA Museum, Art Gallery of Western Australia and a myriad of food and beverage offerings.
“Surrounding the property are significant student accommodation facilities including Yugo Perth, Campus Perth and substantial residential unit towers.”
The Stirling Street precinct has witnessed major new developments in recent years, including the expansion of office supply with 130-144 Stirling Street, the completion of three major residential towers – with more in the pipeline – and the proposed 35-storey timber tower at 108 Stirling Street, which will be one of the world’s tallest hybrid timber towers and is expected to be completed by 2028.
The Offers to purchase campaign for 79 Stirling Street in Perth will close at 3pm (AWST) on Wednesday, August 20.
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