04/02/2022 - 15:17

Kelmscott retail site sells for $9m

04/02/2022 - 15:17

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A local investor purchased the 1.14-hectare site from Eames & Associates.

Kelmscott retail site sells for $9m
The multi-tenanted building sold for $9.125 million.

A local investor has bought a large format retail building in Kelmscott from Nedlands architects Eames & Associates for $9.125 million.

The property, at 2,938 Albany Highway, comprises 1.14 hectares of land with 5,026 square metres of building space.

National and local tenants occupy the building, including Bridgestone Australia, Getaway Outdoors, Better Pets and Gardens, and MSWA.

The former owners of the site were Seaprime, a trading entity of Nedlands architects Eames and Associates, founded by Edwin Eames.

Luke Randazzo of Burgess Rawson, who helped broker the deal, said the property had maximum exposure to Albany Highway traffic and more than 150 onsite car bays.

“The diverse tenancy mix affords the buyer a vast range of industry exposure reducing the risk opposed to having one big tenant,” he said.

“The tenants have been able to continue to perform throughout the pandemic.”

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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