LJ Hooker Commercial Perth director Brian Neo announced 10 Richardson St West Perth sold off market to one of their highly valued clients Australian Development Capital ADC.

10 Richardson has had extensive building upgrades including lobby, bathrooms and high spec end of trip facilities providing an A grade finish to incoming Lessee’s.

Since under contract the building has been substantially leased up with a few more prospective lessee’s showing strong interest.

We would like to congratulate the sellers and ADC for this substantial West Perth transaction.

Brian Neo, Director of LJHC Perth told COMMO, “The sale of 10 Richardson Street demonstrates the appetite for high quality assets in the CBD fringe office markets.”

The property sold for $13.1m which we believe is the highest sale in West Perth for the year.

Whilst two thirds vacant the buyers recognised the opportunity to acquire a fully refurbished building in an excellent location with high parking ratio.”

During the due diligence phase we have managed to secure a substantial new lessee with terms agreed derisking the investment substantially.”

“LJHC Perth will continue to market the remaining vacancy and manage the asset for the buyers”

To request further information about leasing opportunities in number 10 Richardson street and or a sales analysis please contact the leasing and selling agent LJ Hooker Commercial Perth Director Brian Neo via the below contact details.