99 Bussell Highway, Margaret River WA 6285

Offers Invited

21 parking

COMMERCIAL & RESIDENTIAL INVESTMENT MARGARET RIVER

PRIME PROPERTY INVESTMENT ON ONE TITLE
HIGH INCOME STREAM
DEVELOPMENT OPTIONS
STRATA TITLE POTENTIAL

Established in 2003 The Traill is offered for sale for the first time since it was designed and built by the current owner. This is a premium opportunity to invest in a high income producing, mixed use investment property located in the Margaret River Town Centre in the southwest of Western Australia - one of the State's fastest growing and most sought-after regions famous for its wine, surf and leisure activities.

Investment in this region continues to grow and has resulted in a thriving town centre with significant redevelopment in recent years. Land is in high demand from buyers relocating to the area.

99 Bussell Highway is a premium grade investment property comprising 3 commercial tenancies on the ground floor facing Bussell Highway and 2 high quality, well-appointed apartments on the upper level. Planning changes by the Shire of Margaret River-Augusta may allow for increased development on the site subject to planning approval.
FEATURES
= Prime central Margaret River location at the entrance to the town centre
= Strong income from leased commercial tenancies
= Potential tenant for the Café/Restaurant on stand-by
= Potential income from the restaurant/café circa $70-80,000 pa
= Potential for additional development & for strata subdivision
= ROW access at rear to large 21 bay car park
= Local Authority supportive of town centre business development
AREA, ZONING & PLANNING
The property consists of Land area 1012 sqm; frontage 20.12 m:
• 3 ground floor commercial tenancies - NLA 262.70 sqm
• 2 first floor apartments - Area 268 sqm
Zoning: TOWN CENTRE
Plot Ratio: currently built as 1:1 new zoning permits 1:2
LEASES
GROUND FLOOR COMMERCIAL TENANCIES:
Tenancy 1: Restaurant Café (formerly Dome) available to suit for new operator with kitchen, cool room and other fixtures and fittings. Area: 139.54 m² plus terrace/alfresco area of 38.15 m² . Estimated rental range $70,000 to $80,000 + GST pa.
Tenancy 2: Hairdresser. A long established and successful business in this area for over 20 years. Area: 74.32 m² . Rental: Currently $30,000 +GST net per annum plus outgoings. Lease term: 5 years from 1/7/2022 to 30/6/2027
Tenancy 3: Lifestyle Naturally Australian. Long established, successful, family business retailing quality local and international clothing & apparel. Area: 70.75 m² . Rental: Currently $33,000 + GST) net per annum plus outgoings.
Lease term: 5 years from 1/9/2023 to 31/8/2028. Option term: 5 years
APARTMENTS LEVEL ONE
The upper level has 2 high quality fully furnished and equipped penthouse style apartments named “Marine” and “Deco” each with 2 large bedrooms with ensuites, a spacious lounge dining area, well equipped kitchen with Miele appliances, laundry and secure covered carports.
The apartments are let on a daily or weekly basis as 1 or 2 bedrooms from $300 to $400 per night. The Traill has attracted a reputation as high quality upmarket accommodation appealing to visitors seeking privacy and security in beautifully decorated and spacious residences. Full details of income and operating costs will be provided on request.
Outgoings:
The owner pays council & water rates, water consumption, insurance, land tax, general maintenance and repairs and external cleaning. Approximately 63% of outgoings is recovered from commercial tenants. Operational costs for the apartments include cleaning, linen supply, repairs, maintenance, electricity and gas costs, internet services and consumables.
METHOD OF SALE
For sale by Offers

GST: The property is sold on a going concern business based on its current use. GST may be applicable should the buyer alter the current purpose. In any event the buyer will be liable to pay any GST assessed in addition to the sale price. Buyers must seek advice on this issue.

FOR MORE INFORMATION PLEASE CONTACT DAVID AIREY 0418 906 002

Disclaimer:
The details shown are for information only and may contain errors or omissions. Please check all details and measurements and do not rely solely on the information contained herein.

Property Details

• Type: Retail, Other, Land/Development
• Parking Comments: 18 Open parking bays, 3 under cover
• Tenancy: Tenanted