An office building at 25 Richardson Street, West Perth has sold for $5,350,000 to a local Perth-based private investment company Tribar Capital.

The transaction was brokered by JLL’s Sean Flynn, Director of Sales and Investments, reflecting an initial yield of approximately 6.30%.

25 Richardson Street is a three-level office building comprising ground and 2 upper office floors totalling approximately 1,466 sqm of net lettable area, situated in the heart of West Perth being only 1km* west of the Perth CBD.

The fully leased office building is securely leased with anchor tenant Williams & Hughes Lawyers occupying 60% of the building by area.
Mr Flynn said “The property has benefitted from extensive refurbishment works over the last couple of years and attracted a significant amount of buyer interest due to its proximity to the Perth CBD, public transport facilities and Perth’s outer suburbs.”

“Having recently transacted on a number of West Perth assets, JLL continues to see renewed confidence return to the West Perth market with a considerable amount of buyer interest coming from a mix of high-net-worth private investors, owner-occupiers and developers.” 

To request a sales analysis please contact the selling agent JLL’s Sean Flynn via the below contact details.