OFF MARKET

1/1048 Rockingham Road
Wattleup WA 6166

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 227m2
Land area: 227m2
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Property Details for 1/1048 Rockingham Rd, Wattleup

Building Type
Commercial
Year Built
1971
Floor Size
227m2
Land Size
227m2

Last Listing description (April 2017)

**Note - Property only for sale not the Business.

PROPERTY DETAILS:
Property: The Ten Mile Tavern is located to the front of this small 5 strata lot development in the locality of Wattleup 43 metres South of Rockingham Road & Wattleup Road. The premises is approximately 39 years old and consists of lounge bar, bottle shop, kitchen, male & female facilities and storage.

Lot size: 227sqm

Tenancy Details: Dorsan Investments Pty Ltd
Please note this tenant has been the business operator since August 1999.

Lease: There is a new lease in place commencing on the 1st of May 2016. The term is 14 years with two 5 year optional periods. A copy of the formal lease is available for perusal by appointment with Chris Farris a the Office of Ron Farris Real Estate Pty Ltd.

Rental: Current Rental - $93,000.00 per annum plus variable outgoings plus GST

Rent Reviews: 3% of the net rental annually.

Price: $1,250,000 (Zero GST)

GENERAL:
This property represents a solid investment opportunity with a long term lease. No local competition to the tavern, long term operator, license to operate a tavern stays with the property. The value of this license is difficult to quantify given the tavern is surrounded by the huge commercial precinct Latitude 32 which is 1400 hectare major industrial development zone being developed by Land Corp. This development is to be known as the Western Trade Coast and it is highly likely that Latitude 32 will become the major employment area for the South West corridor over the next 10 or 20 years. This will be highly beneficial to this property.
Ron Farris Real Estate Pty Ltd recommend that any serious purchaser investigate this development as looking forward it can only help your investment.

For Further Details Contact
Chris Farris
0413 945 667

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Property History for 1/1048 Rockingham Rd, Wattleup, WA 6166

A timeline of how this property has performed in the market
Last Sold
$1,190,000
31 Mar 2017
  • 31 Mar 2017
    Sold for $1,190,000
  • 03 May 2016
    Listed for Sale SOLD
  • 23 Feb 2001
    Sold for $545,000
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About Wattleup 6166

The size of Wattleup is approximately 11.2 square kilometres. It has 10 parks covering nearly 22.9% of total area. The population of Wattleup in 2011 was 571 people. By 2016 the population was 466 showing a population decline of 18.4% in the area during that time. The predominant age group in Wattleup is 40-49 years. Households in Wattleup are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Wattleup work in a trades occupation. In 2011, 69.8% of the homes in Wattleup were owner-occupied compared with 70% in 2016.

Wattleup has 688 properties. Over the last 5 years, Houses in Wattleup have seen a 189.11% increase in median value, while Units have seen a 202.60% increase. As at 31 October 2024:

  • The median value for Houses in Wattleup is $974,703 while the median value for Units is $721,814.
  • Houses have a median rent of $350.
There are currently 3 properties listed for sale, and 2 properties listed for rent in Wattleup on OnTheHouse. According to CoreLogic's data, 8 properties were sold in the past 12 months in Wattleup.

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