Excellent chance to invest in high-profile Albany site
A highly functional, fully refurbished industrial building with split-risk income streams is for sale, offering prospective purchasers an exceptional opportunity to secure a high-profile building in the investment hotspot of Albany.
Colliers director Matt Prentice, who is exclusively marketing the property for sale alongside associate director Ryan De Zwart and director Shoneet Chand, says it’s the premier Albany industrial asset that investors have been waiting for.
“This property is a compelling investment option due to its solid, split-risk income stream, the quality of the recently refurbished building and its profile in a highly sought-after precinct that has an extremely low vacancy rate.
“On offer is a standalone 2088 sq m building that is split into two adjoining tenancies on a high-profile 3740 sq m freehold site at 7-9 Cowley Rd in Albany.
“The asset will appeal to those looking for a diversified income stream with the fully-tenanted property returning some $311,985 per annum plus GST from two separate leases, both with built-in rent reviews,” Prentice says.
“The building has been recently refurbished and is highly functional with a sought-after high warehouse ratio of 84 per cent and a stud height of up to 8.3m.
“With 69m of street frontage, dual access, ample carparking, a secure yard and a designated container drop area, this property provides some serious presence and ticks all the boxes for a top-quality investment,” he says.
The property is zoned Business Light Industry, which allows for a wide range of uses including manufacturing, warehousing, and distribution.
The deadline private treaty closes off at 4pm on Tuesday 15 June. The property may sell prior.