This existing commercial building is located at the busy end of Hay Street, East Perth and has access through to Adelaide Terrace, (Postal Address 148a Adelaide Terrace).
The location provides great exposure to the local bars, cafes, shops, parks and transport with plenty of street parking.
The four levels of commercial office accommodation are currently vacant. There is now an opportunity to purchase this particular 1,770 sqm site (building lettable area 3400sqm) with the potential of partly demolishing the building, (existing office area) and retaining 5 levels of under croft parking.
The objective may be to build a 13 level residential building on top of the existing 112 bay car park. The residential building can be used for duel purposes. Architectural design concept drawing are available for particular buyers to pursue in their endeavors to maximise the potential of the site.
DEVELOPMENT POTENTIAL SUMMARY
SITE AREA: Approx. 1,770 sqm
PRECINCT: P13 Adelaide / P14 Goderich
SCHEME USE: Office / Residential
PLOT RATIO: 4:1 (7,080 sqm)
MAX BONUS RATIO: 20% with potential for extra
PLOT RATIO + 20%: 8,496 sqm can be claimed
COMMENTS: Well below replacement costs
Please contact Darrell Crouch for further information.