Inner-city government backed office sold
An inner-city office built 11 years ago for the Department of Corrective Services, which still occupies, has sold for $10 million.
The result for the five level building, 149 Wittenoom Street, East Perth, reflects a 9.25 per cent net passing yield.
With 2422 square metres, a ground floor space is leased to Affinity Pharmacy.
Upper floors have city skyline views.
On 999 sqm, the asset, also known as 30 Moore St, contains 14 car parks too.
Knight Frank’s Tony Delich and Zach Schreier were the agents.
The vendor, registered as Moore 30 Pty Ltd, paid $3.52m in 2010 (continues below).
The property 900 metres from the city’s edge.
Government backed office
The East Perth office was listed for public sale mid-last year and in 2018 – the latter when the annual income was higher ($1.28m).
The state government is on a lease expiring in 2030 with options.
“The property benefits from the Wellington Square Park a mere 60m to the eat and tree-lined streets throughout the precinct as well as its proximity to the Claisebrook Cove café strip around 800m away,” the agents said upon listing.
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