647 Wellington Street, Perth, WA 6000

Sterling Property is proud to exclusively present 647 Wellington Street, Perth – a rare 3,371sqm* corner landholding in one of Perth CBD’s fastest-evolving precincts, offered to the market for the first time in 35 years.

Positioned opposite RAC Arena and within easy walking distance of Perth Train Station, Perth Busport and the new ECU City Campus, this landmark site sits at the heart of a precinct undergoing significant public and private investment.

The property is currently improved with a fully leased two-storey commercial building occupied by Acknowledge Education, providing substantial holding income while purchasers progress their future development strategy.

OPPORTUNITY HIGHLIGHTS
- Significant 3,371sqm* CBD corner landholding with extensive dual street frontage
- 88.55m* frontage to Milligan Street and 30.32m* frontage to Wellington Street
- Existing building comprising 2,452.50sqm* NLA and 20 on-site car bays
- Immediate net holding income of $541,400.68 pa, with potential to increase to $596,000.68 pa when car bays are fully leased
- Flexible City Centre zoning supporting a broad range of high-density development outcomes
- Current LPS2 base plot ratio of 5:1, with potential for up to a 50% bonus plot ratio through eligible public benefits
- Further planning potential under the imminent Draft LPS3
- Directly opposite RAC Arena and within walking distance of Perth Train Station and Perth Busport
- Less than 500m* walk to the new ECU City Campus
- Ideally suited to Build to Rent, Build to Sell, Student Accommodation, Hotel, Co-Living, Short-Stay accommodation and Mixed-Use development
- Concept scheme prepared by award-winning architects MJA demonstrates the site’s significant development capacity, comprising approximately 296 one and two bedroom apartments across 31 levels, together with a ground-floor supermarket and activated commercial tenancies

SALES PROCESS
For Sale by Offers Invited.

For a copy of the Information Memorandum or further details, please contact the exclusive selling agents.