29/07/2014 - 12:44

Midland Dome sells for $2.7m

29/07/2014 - 12:44

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Midland Dome sells for $2.7m
A private buyer has scooped up the Midland Dome property, which has 15 years to run on its lease.

Midland's Dome Coffees franchise opposite the Midland Gate Shopping Centre has been sold to a private investor for $2.7 million, in a deal brokered by commercial real estate group CBRE.

The 1,103 square metre property is located at 21 Cale Street and comprises a 619sqm heritage building occupied by Dome and an office and training centre.

CBRE's Michael Milne said the sale was an outstanding long-term investment for the buyer, with Dome's lease not expiring until 2029.

"This property received widespread interest from a range of buyers looking for a low-risk, low-maintenance investment in one of Perth's fastest growing areas," he said.

"Located on the doorstep of one of Perth's busiest shopping centres, and with more than 24 metres frontage onto Cale Street, this was truly a unique opportunity to secure an outstanding investment."

Dome also holds three additional 10-year options on the site.

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