The leasehold for an investment grade commercial building in Bunbury, one of Australia’s fastest growing regional centres, will be sold by Colliers International.
Under instructions from advisory and investment firm KordaMentha, the building, which has a newly negotiated three-year lease to the Federal Government’s Department of Human Services, will be sold via an expression of interest campaign.
The three-level office building at 7 Wellington Street occupies an 8713sqm site owned by the City of Bunbury and is just 500m from the Bunbury Centrepoint Shopping Centre, one of the port city’s main shopping precincts.
The campaign to sell the office building will be overseen by Colliers International’s Director Investment Services Nicholas Agapitos who said the secure lease to the Federal Government would generate strong interest from investors.
“This modern property generates an approximate gross income of $944,000 per annum and occupies a high profile corner site in Bunbury’s CBD,” Mr Agapitos said.
“With two floors of office space, the building has a net lettable area of 3214sqm and in the current economic climate this securely leased investment will be highly sought-after.”
The Department of Human Services is the portal for the Federal Government’s human services portfolio which includes Centrelink, Medicare and the Child Support Agency and has occupied the building since it was built in 2003.
The building also has 890sqm floor plates and 54 under-croft parking bays and 58 open bays.
Located 190km south of Perth, Bunbury is the commercial centre for WA’s South West region.