AFTER a long history as a one of Perth’s premier corporate buildings, and the headquarters of one-time legal firm Parker and Parker (now Free-hills), 21 Howard Street is likely to start life anew as an inner-city apartment complex.
Despite being passed in at auction last week after only achieving a bid of $1.5 million, there is still strong investor interest in the early 1900s property.
The three-level office building, which was restored and renovated in 1988 and includes features such as 20 separate offices, kitchen, wine cellar and undercover parking, is currently on the market for $1.75 million.
The building has 488.6 square metres of net lettable space and a gross building area of approximately 700sq m.
Perman and Associates principal Bob Perman said the firm was in discussions with three different groups, including two groups of private investors who considered the heritage-listed property to be a prime candidate for a residential conversion.
Mr Perman said he had recently sold two properties of similar vintage on King Street for conversion to residential.
“It is one of the most original turn-of-the-century buildings in Perth,” he said.
“It has probably only had about three owners in the last 100 years.
Mr Perman said because of WA’s chequered heritage conservation history, 21 Howard Street was one of the few ‘heritage buildings sitting in a sea of glass’. He said the auction last week had attracted significant buyer interest, including from a number of high-profile residential agents.
“Some buyers had indicated prior to auction they wouldn’t be in position to bid, so we took a decision to pass it in and negotiate with those interested parties,” Mr Perman said.
“The property is genuinely for sale and we expect to exchange contracts in the next two weeks.”
© Business News 2017. You may share content using the tools provided but do not copy and redistribute.