SOLD
Sold on 15 Apr 2024 for $1,400,000

3/159 Adelaide Terrace
East Perth WA 6004

Bedrooms: -
Bathrooms: -
Car spaces: 2
Floor area: 349m2
Land area: 378m2
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Property Details for 3/159 Adelaide Tce, East Perth

Building Type
Commercial
Year Built
2010
Floor Size
349m2
Land Size
378m2
Local Government
Perth
Lot/Plan
3/S050808

Last Listing description (July 2024)

Offers invited to show net return of circa 8.5% - 9% !!!

Opportunity to secure a fully leased investment, with long standing tenant, high quality building & tenancy fitout with Quality returns

349sqm office

2 secure car bays
Secure, Ground floor position
Long standing tenant
Tenant has recently exercised their 2 year option
High quality office presentation
Fully partitioned
Entry / reception
Boardroom
11 offices (or mix of meeting rooms)
Two open plan areas
Staff kitchen & break out
Data & store area
Disabled access compliant
Shower onsite
Wilsons car park located next door (Bennett St), plus ample street parking readily available
Short walk to Langley Park & Swan River, along with other locations such as Law Courts
Surrounded by cafes & amenities
Only 11 lots in building

Current total rental $127,983 p.a. plus outgoings & GST (includes Parking license income)

Long Standing Tenant and expected returns well over 7% net!

For further information please contact the Selling Agent.

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Property History for 3/159 Adelaide Tce, East Perth, WA 6004

A timeline of how this property has performed in the market
Last Sold
$1,400,000
15 Apr 2024
Listed for Rent
$3.08k/w
30 Jan 2014
  • 06 Jun 2024
    Listed for Sale Offers Invited
  • 15 Apr 2024
    Sold for $1,400,000
  • 02 Mar 2023
    Listed for Sale For Sale: $1,595,000
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About East Perth 6004

The size of East Perth is approximately 3.2 square kilometres. It has 21 parks covering nearly 33.5% of total area. The population of East Perth in 2011 was 8,184 people. By 2016 the population was 10,598 showing a population growth of 29.5% in the area during that time. The predominant age group in East Perth is 20-29 years. Households in East Perth are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in East Perth work in a professional occupation. In 2011, 37.8% of the homes in East Perth were owner-occupied compared with 37.6% in 2016.

East Perth has 8,375 properties. Over the last 5 years, Houses in East Perth have seen a 12.60% increase in median value, while Units have seen a 33.19% increase. As at 30 September 2024:

  • The median value for Houses in East Perth is $1,096,571 while the median value for Units is $585,242.
  • Houses have a median rent of $875 while Units have a median rent of $680.
There are currently 119 properties listed for sale, and 46 properties listed for rent in East perth on OnTheHouse. According to CoreLogic's data, 665 properties were sold in the past 12 months in East perth.

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