$689,000

Earn income from the current tenant while deciding what to build, or land bank for the future.
27 Station Road started its life as a family residence on nearly ½ acre adjoining the High School farm, but a complete refurbishment has seen it transformed into modern office premises on a site suitable for further development.

The site is 1,930sqm and has a wide 27.4m frontage. The Service Commercial zoning provides for a range of uses including medical centre, office and showroom and caretakers residence. A full list of permitted and discretionary uses is available on request.

Station Road is an active Service Commercial locality and features a number of Margaret River’s most well-known businesses, including Home Hardware, Blue Ginger, Retravision and the Margaret River Surgery.

The improvements comprise a rendered brick and tile roof dwelling that has been fully refurbished and converted to offices (approximately 154sqm gross floor area including storage). The accommodation internally consists of 3 separate and private offices, a reception/office area, an office/meeting room, kitchen, universal access bathroom and WC. The garage has been converted into a secure storage area and is accessible from the office.
The internal finish comprises painted plasterboard walls and ceilings, carpeted floors to all office areas, vinyl floors to the kitchen and rear entry area and tiles to the bathroom and WC. The building has been cabled for telephone and computer services, has a security system and ducted air-conditioning is fitted throughout.

Overall the premises provide well-appointed and spacious offices with a large and open reception, good kitchen and bathroom amenities and plenty of storage.

Externally there is a covered and paved patio area at the rear of the offices (approximately 25sqm) ideal for staff lunches and relaxing after work and a Roll-A-Door provides access to the garage/storage area. Bitumen sealed parking for five vehicles and access driveway are provided at the front of the building.

The balance of the site consists of a grassed and fenced yard and is accessible via gates on either side of the office building.

The site is not currently fully developed and additional development is possible – subject to relevant approvals.

The Town Planning Scheme provides for a plot ratio of 0.5 and a site coverage of 75%. Based on the land area of 1,930sqm the site can accommodate 965sqm of gross building area. The current building has a gross floor area of approximately 154sqm which represents 16% of the total allowed. However, the current building occupies about 700sqm (or approximately 36%) of the total area including the carpark and landscaping etc. therefore the site is effectively 64% underdeveloped and this provides for future development potential and/or expansion of your business.

The property is leased at $500 per week plus outgoings.

Ideally suited to an investor seeking a rental return and land for future development.

Property Features:
• Prime location in an active and vibrant Service Commercial precinct
• 1,930sqm lot with wide 27.4m frontage
• Brick offices with gross floor area of approximately 154sqm
• 3 offices, reception/office area, meeting area and kitchen
• Universal access bathroom, spacious store room
• Air-con, cabled for data, telephone and security system
• 5 parking bays – bitumen sealed
• Additional land for further development
• 2 year tenancy in place with 2 year renewal option.
Shire of Augusta Margaret River Rates: $2,678.39 pa
Water Corporation Service Charge: Approximately $225 pa
Contact us for further information, to arrange an inspection or to discuss development options.