FOR SALE
$2,800,000 + GST

61 West Street & 4 Prince Street
Busselton WA 6280

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1948m2
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MAJOR CENTRAL BUSSELTON DEVELOPMENT SITE

First National Real Estate Busselton are pleased to offer to the market 61 West Street and 4 Prince Street Busselton. Rarely do TWO adjoining development sites become available, with this offering also featuring holding income.
The subject site is located within the Busselton City Centre, and directly opposite the recently refurbished Busselton Central retail shopping centre which has become the centrepiece for retail and hospitality offering within the City centre.
The subject properties are positioned at the corner of West Street and Prince Street and feature a combined massive street frontage of 80.1 metres. Overall the offering comprises a total of 1948m2, across the two contiguous lots measured as follows:
• Lot 1 (No 61.) West Street - 1146m2
• Lot 17 (No 4.) Prince Street - 802m2
The subject properties are zoned ‘Regional Centre – ‘R-AC3’ under the City of Busselton Local Planning Scheme No. 21. The subject site is also further identified within the ‘Busselton Precinct – DCA1’ and ‘Drive Through Facility Control – Special Control Area’.
In line with the zoning and subject to formal approvals being obtained, the property would be suitable for medium to high-density, mixed use urban centre high-rise development, across several levels. The local planning scheme encourages mixed-use development such as ground floor restaurant/café, tavern, medical, retail, office, and a residential component on upper floors. It would also be worthwhile investigating development for short stay or tourism use to cater to this booming market.
Given the location of the site within the heart of the City centre, it is considered that a mixed-use development with a short stay offering would benefit from the strong tourism and population growth statistics. This represents a unique development opportunity to create a showcase development within the heart of the City of Busselton.
61 West Street is currently leased until 15 January 2027 with a current net rent of $68,458 plus gst and recovery of commercial outgoings. It is considered this substantial holding income is an asset whilst planning approvals are sought for redevelopment of the site.
For further information regarding this property and the scope for development potential within the City of Busselton please contact the selling agent Matt Snaddon 0488280020.
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Property Details for 61 West Street & 4 Prince Street, Busselton

Building Type
Commercial
Land Size
1948m2

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About Busselton 6280

The size of Busselton is approximately 4.4 square kilometres. It has 7 parks covering nearly 8.6% of total area. The population of Busselton in 2011 was 1,716 people. By 2016 the population was 1,901 showing a population growth of 10.8% in the area during that time. The predominant age group in Busselton is 60-69 years. Households in Busselton are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Busselton work in a labourer occupation. In 2011, 50% of the homes in Busselton were owner-occupied compared with 53.7% in 2016.

Busselton has 1,845 properties. Over the last 5 years, Houses in Busselton have seen a 101.89% increase in median value, while Units have seen a 144.65% increase. As at 30 November 2024:

  • The median value for Houses in Busselton is $801,365 while the median value for Units is $617,387.
  • Houses have a median rent of $650 while Units have a median rent of $585.
There are currently 17 properties listed for sale, and 7 properties listed for rent in Busselton on OnTheHouse. According to CoreLogic's data, 74 properties were sold in the past 12 months in Busselton.

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