A Singaporean investor has made their first foray into the Perth commercial property market, paying $33 million for an office opposite Kings Park and Dumas House.
The building, 1 Havelock Street, West Perth, was offloaded by WA-based Ascot Capital Limited, an investment house directed by David Van Der Walt, Greg King and Peter Agostino.
The four-level A-grade office is 90 per cent occupied to tenants including Frasers Property Australia and Golder Associates – the latter which leases naming rights.
With 5199 square metres of area, including a top floor apartment, the building includes 201 parking bays in a two level basement car park. It sits on a 3367 sqm plot with a tennis court, less than a kilometre from St Georges Terrace.
The deal comes almost a year since it was listed for sale. At that time – November 2017 – the office was fully leased and returning $2.8 million per year in rent.