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Colliers International to sell leased Perth office building

State government tenant to attract investors

Colliers International has been appointed to sell a leased office building in a Perth precinct that has been earmarked by developers for revitalisation.

The two-storey building at 190 Stirling Street consists of two titles and has 2,795sqm of modern office space and 80 car bays.

Selling agents Tory Packer and Wayne Lawrence said the sale would attract local and eastern state-based buyers wanting to secure a leased asset in Perth’s commercial property market.

“The anchor tenancy to a state government agency will be high on the investor check list and with its occupancy at 89 per cent and the gentrification of Stirling Street well underway, we are expecting a strong level of interest,” Ms Packer said.

The state government occupies just over 64 per cent of the building while government and financial services advisory companies lease 690sqm.

The building has an estimated fully-leased net passing income of $1,063,629.

Mr Lawrence said a spate of new residential and commercial developments, and more in the planning phase, made Stirling Street a restoration and development focus.

“At less than one kilometres from the centre of the CBD, this building is well-placed to appeal to tenants seeking high-quality office space in an up-and-coming part of Perth that is already benefiting from an activated streetscape,” he said.

Mr Lawrence said the building’s significant land holding, which had a mixed-use zoning, a density code of R80 and a height limit of five storeys, would also add to its long-term investment appeal.

“The building sits on a 3,958sqm corner site with street frontage to Stirling, Edward and Parry streets offering flexibility for a future development.”

Offers to purchase 190 Stirling Street close on November 14.

Related Experts

Tory Packer

Director

Investment Services

Perth

Tory has been in the commercial property business with Colliers International (WA) for over 11 years. 
Throughout this time, she has assisted in the sale and acquisition of over $200million worth of property for high profile clients, investment syndicates, corporations and government departments.


Tory has established herself as an experienced investment services expert in the Perth market, focusing on combining buyer engagement success and effective sales strategies to achieve optimal outcomes for her clients.
Her success is based on her market leading knowledge, comprehensive understanding of investment disposals and market reach throughout local, national and offshore markets.


In order to cultivate her track record, Tory spends time with buyers and sellers located interstate and offshore to present opportunities and establish relationships across the widest possible market. 
Tory is results driven and has established long-term partnerships with her clients, frequently exceeding her client’s expectations.

A sample of recent transactions completed by Tory include:
•105 Lord Street, Perth $21,000,000
•179 St Georges Terrace, Perth $18,250,000
•1101 Hay Street, West Perth $16,575,000
•Lots 37 & 38 Montario Quarter, Shenton Park $16,300,000
•100 Chisholm Cres, Kewdale $14,500,000
•592-616 Hay Street, Jolimont $13,000,000
•24 Chesterfield Rd, Mirrabooka $8,900,000
•15 Leila Street, Cannington $8,310,000
•7-41 Henderson St, Fremantle $8,250,000
•125-129 Murray Street, Perth $8,100,000
•20 Brown Street, East Perth $7,100,000

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Wayne Lawrence

Head of Investment Services

Investment Services

Perth

My commercial property experience spans almost 25 years and has been based on a solid foundation of 17 years in the valuation industry. My transaction experience varies from short stay accomodation to CBD offices. In the past 3 years I held a General Manager role at a private property company where I oversaw the acquisition and development of substantial commercial, retail and industrial projects and my experience on both the agency and client side of transactions has been immensely advantageous for my current role.

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