3 The Crescent Midland WA 6056
Property Details for 3 The Crescent, Midland
Last Listing description (May 2024)
Colliers and Ray White Commercial are pleased to offer for sale 3 The Crescent Midland - an exceptional opportunity to acquire an established freehold hotel investment property with a strong long-term lease covenant and supporting office accommodation.
Investment Highlights Include;
4.5 star newly constructed quality Quest Apartment Hotel (opened 2018) with limited CAPEX requirements in the short to medium term
Facilities include conference and meeting space, gymnasium and on-site parking
Underwritten by strong and secure long-term lease until 2034 with Corporate guarantees
Robust income yield with 3% annual increases set to provide strong equity returns
Well leased commercial offices to Mission Australia and the Minster for Works (WA State Government)
3,602sqm* freehold site offering additional future development potential
Operated under the Quest brand, the leading serviced apartment hotel operator in the Asia Pacific region.
Supported by an exceptional network of roads and rail, Midland is within 10km of Perth Airport and less than 20km from Perth city.
The greater Midland area is also seeing a huge amount of Private, Local and State Government investment in major projects which will attract visitors and workers to the area who will benefit from the accommodation available at the Quest Hotel.
3 The Crescent Midland is offered For Sale by Private Treaty
For further information or to arrange an inspection, please contact the Agents:
Brett Wilkins
Ray White Commercial (WA)
M: 0478 611 168
E: brett.wilkins@raywhite.com
Phil Zoiti
Ray White Commercial (WA)
M: 0419 993 656
E: phil.zoiti@raywhite.com
Richard Cash
Colliers Perth
P: (08) 6158 8609
E: richard.cash@colliers.com
James Baker
Colliers Perth
M: 0418 912 007
E: james.baker@colliers.com
Property History for 3 The Crescent, Midland, WA 6056
- 08 Dec 2023Sold for $31,750,000
- 15 Sep 2022Listed for Sale Please contact agent
- 06 Mar 2020Listed for Sale Expressions of Interest
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About Midland 6056
The size of Midland is approximately 4.4 square kilometres. It has 8 parks covering nearly 6.8% of total area. The population of Midland in 2011 was 5,109 people. By 2016 the population was 5,974 showing a population growth of 16.9% in the area during that time. The predominant age group in Midland is 20-29 years. Households in Midland are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Midland work in a trades occupation. In 2011, 39.8% of the homes in Midland were owner-occupied compared with 37.7% in 2016.
Midland has 4,743 properties. Over the last 5 years, Houses in Midland have seen a 71.41% increase in median value, while Units have seen a 95.26% increase. As at 31 August 2024:
- The median value for Houses in Midland is $571,993 while the median value for Units is $425,182.
- Houses have a median rent of $520 while Units have a median rent of $500.
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