Two commercial properties in Claremont Town Centre have been sold by LJ Hooker Commercial Perth for a total of $7,722,500 to buyer A & R Developments.

53 Bay View Terrace was sold off market for $4,150,000 (Going Concern), while 319 Stirling Highway was sold on market for $3,572,500 (Going Concern).

319 Stirling Highway sits on approx. 515 sqm of land and comprises of a two-level retail / commercial building offering tenancy income streams from Subway, Terri Terri Japanese and Fancy Nails to name a few. Features include fantastic business and signage exposure and 9 car parking bays situated at the front of the property.

Jack Bradshaw told COMMO, “319 Stirling Highway is a prominent two-storey retail / commercial building in Claremont which has always been well leased by long-term tenants such as Subway and Fancy Nails.” 

“Given the unique offering, over 70 enquiries were received which resulted in multiple offers during the on-market campaign.” 

“The improved land rate of $7,233/sqm and approximately 5% pa net return on fully leased income represents logical value for a Claremont Town Centre site.”

 Image: 319 Stirling Highway. Source: LJ Hooker Commercial Perth

The beautifully restored heritage building at 53 Bay View Terrace is currently occupied by high profile residential estate agent Vivien Yap from Ray White Dalkeith / Claremont and the newly opened Japanese Restaurant Izakaya Sumi. The total land area comprises approx. 820 sqm.

Speaking to COMMO, Brian Neo said “53 Bay View Terrace is located at one of the main entry points to the Claremont Town Centre which is currently undergoing a revised structure plan.”

“Whilst the property has experienced some vacancy for a number of years until recently, Izakaya Sumi has just opened its doors and we will be marketing the remaining 130 sqm vacancy which faces Bay View Terrace. The other lessee insitu is high profile estate agent Vivien Yap.”

“The buyer recognised the significance of the location being one of the main entry points to the Town Centre from affluent suburbs Claremont and Dalkeith and plans to rejuvenate the site over the medium term.”

Image: 53 Bay View Terrace. Source: LJ Hooker Commercial Perth

To request a sales analysis for either property please contact the selling agents Brian Neo and Jack Bradshaw from LJ Hooker Commercial Perth via the below contact details.

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