Land for sale

134 West Coast Drive,

Sorrento, WA

0 0 0
$3,400,000.00

Sorrento Beachfront | Leased Investment + Development upside

Approved for 5 level development
Currently fully leased
$143,242.72 net income pa income ex GST

134 West Coast Drive (LOT 149) $3.4 MILLION sold as going concern

An unbeatable opportunity to purchase possibly the closest site to the ocean in Perth's metro area. Absolute ocean front land, offering spectacular ground floor ocean views. The site currently contains the extremely popular cafe, White Salt.

Lot 149 - 792sqm
320sqm restaurant
Alfresco area
Storage/office space
WAPC approved for 5 level mixed-use development
$143,242.72 net pa income (ex GST) plus outgoings
Ground level ocean views
Strong, secure income stream with growth opportunity
SALE PRICE REFLECTS 4.2% NET RETURN
FULLY LEASED...
Lot 149 - Lease expires in 5 years with redevelopment clause in the lease.
Tenant keen to sign longer lease with significant increase in rent
Last updated: 09:24AM on Aug 30th 2018
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