507 Murray Street for sale is an 8 level Perth CBD office building comprising over 2,700 sqm of modern office accommodation plus 12 secure car bays. JLL have been exclusively appointed to offer for sale the freehold interest to be publicly marketed by John Williams and Nigel Freshwater through an Expressions of Interest sale campaign.

John Williams, JLL’s WA Managing Director said “The building is an opportunity for investors and owner occupiers.

507 Murray St was constructed in 2012 and is being offered for sale for the first time. The building is 69% leased to 4 existing tenants and therefore delivers a significant cash return from day one for an investor. Income and value can be increased by leasing the vacant floors in an improving office market.”

“An owner occupier can add this value immediately,” he added. “Occupy both or one of the two vacant floors of 426 sqm each on a leaseback to an investment vehicle or SMSF, increase the occupancy and immediately increase value” he added.

Nigel Freshwater, JLL’s Head of Capital Markets in WA said, “This is a point in the market cycle where assets can be bought at significant discounts to replacement costs.”

“507 Murray Street is only 9 years old and the costs to replace today are far greater than the likely selling price of the building. This opportunity comes to the market at a point in time where the market is poised for growth. The Perth CBD recorded positive absorption in Q2 and JLL research forecasts this trend to continue with vacancy rates reducing to around 15% by 2025.”

“It is therefore not surprising that Perth office assets are currently highly sought after by investors confident that the market is improving rapidly, driven by strong economic fundamentals in the Western Australian economy,”

507 Murray will be offered publicly for sale by Expressions of Interest closing Thursday 2nd September 2021.

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below.