10428 Bussell HighwayWitchcliffe WA 6286
Property Details for 10428 Bussell Hwy, Witchcliffe
Last Listing description (April 2022)
We now have available for purchase this high-profile income-producing freehold property situated on the corner of Bussell Highway and Redgate Road in the rapidly expanding southwest town of Witchcliffe which is located just 10km south of Margaret River.
The site is 2006sqm whilst the floor area of the internal buildings is approximately 235m2. With a potential lease of up to 16.5 years and a generous rental income with 4% annual increases locked in a purchase at the current asking price represents a 6.15% ROI with that set to improve to 6.4% from the 31st of July.
The property is in excellent condition with the current tenant having recently carried out the refurbishment of the retail space, installing new fuel pumps as well as upgrading the canopy. There are also triple skinned Perma Tanks installed that should never need replacing. The tenant also obtained a contamination clearance report prior to occupying the property.
Witchcliffe is a rapidly growing area with a number of nearby subdivisions such as Leeuwin Parklands, Leeuwin Escape, Leeuwin Village on Redgate Road, Reserve on Redgate and the Witchcliffe Eco Village all located within 1.5km of the Witchcliffe townsite and currently at varying stages of construction and development which will see Witchcliffe continue to grow for many years to come.
Get in touch today to receive further information.
Potential lease of up to 16.5 years
4% annual rent increases
Refurbished retail shop
Recently upgraded canopy
New pumps installed recently
Triple skinned Perma Tanks installed
2006m2 land area
235m2 (approx.) internal floor area
Property History for 10428 Bussell Hwy, Witchcliffe, WA 6286
- 06 Jan 2022Listed for Sale Offers Around $2,195,000
- 01 Aug 2019Listed for Sale $2,195,000
- 28 Oct 1993Sold for $65,000
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About Witchcliffe 6286
The size of Witchcliffe is approximately 54.7 square kilometres. It has 3 parks covering nearly 0.3% of total area. The population of Witchcliffe in 2011 was 339 people. By 2016 the population was 267 showing a population decline of 21.2% in the area during that time. The predominant age group in Witchcliffe is 60-69 years. Households in Witchcliffe are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Witchcliffe work in a labourer occupation. In 2011, 64.4% of the homes in Witchcliffe were owner-occupied compared with 70.5% in 2016.
Witchcliffe has 868 properties. Over the last 5 years, Houses in Witchcliffe have seen a 131.94% increase in median value, while Units have seen a 31.83% increase. As at 31 October 2024:
- The median value for Houses in Witchcliffe is $881,518 while the median value for Units is $1,007,808.
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