FOR SALE
Offers from $3.45 million

18 Howson Way
Bibra Lake WA 6163

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 1854m2
Land area: 4042m2
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Prime industrial redevelopment opportunity with holding income

This opportunity is an ideal investment as a future redevelopment opportunity in a prime location in Bibra Lake.
It involves the sale of 4,042sqm* of land with six existing tenancy areas (1,853sqm*), five of which are currently occupied.
Zoning: City of Cockburn TPS 3 - Industrial
This property will attract a developer wishing to acquire a central Bibra Lake property with attractive redevelopment potential and strong holding income, an investor with a similar agenda, particularly one with the foresight and capacity to optimise the income generated by the tenancy environment of the property or an owner occupier.
The tenanted areas currently generate approx. $117,744 in Net Rent, although this represents significant under-renting value, based upon current market leasing values. Tenants also pay GST and Variable Outgoings. The property should be generating rent of approx. $206,955 plus GST plus Variable Outgoings, based conservatively upon a Net Rent of $130/sqm for the five tenanted area and $50/sqm for the untenanted area of 425sqm*.
The unoccupied unit is currently best suited for use as a storage area, although it has the capacity to be upgraded to a higher utilisation, and, as a result, will generate significantly greater rent.
The existing tenants are attached to periodic (month to month) leasing arrangements, although a number of them are longstanding tenants and all of whom are financial and reliable tenants.
The tenancy areas comprise the following:
Unit 1
Workshop: 201sqm*
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Property Details for 18 Howson Way, Bibra Lake

Building Type
Commercial
Floor Size
1854m2
Land Size
4042m2

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About Bibra Lake 6163

The size of Bibra Lake is approximately 12.8 square kilometres. It has 19 parks covering nearly 32.9% of total area. The population of Bibra Lake in 2011 was 5,954 people. By 2016 the population was 5,890 showing a population decline of 1.1% in the area during that time. The predominant age group in Bibra Lake is 50-59 years. Households in Bibra Lake are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Bibra Lake work in a professional occupation. In 2011, 82.9% of the homes in Bibra Lake were owner-occupied compared with 81.4% in 2016.

Bibra Lake has 4,032 properties.

    There are currently 12 properties listed for sale, and 4 properties listed for rent in Bibra lake on OnTheHouse. According to CoreLogic's data, 146 properties were sold in the past 12 months in Bibra lake.

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