PERTH - Western Australia is experiencing its most significant population surge in recent history, driven by strong overseas migration and a steady influx of international students. Leading the nation with a 3.3% annual population increase as of September 2023, the state is a beacon of growth and opportunity.
Amidst this dynamic environment, a heritage listed property located in Fremantle's high pedestrian precinct is now available on the market. This prime corner location at 85 Market Street is known for its vibrant blend of cafes, restaurants, retail outlets, pubs, and the iconic Fremantle Markets.
Comprising a striking 1,385sqm* heritage-listed retail and commercial building on a 713sqm* site, the property is partially leased with a net passing income of $381,864pa* and hosts a quality mix of local, national, and global tenants, including OPSM, La Sosta Restaurant, Portorosa Restaurant, Expression Australia, and San Churro, with prime retail street frontage and outdoor alfresco dining.
The prominent front corner ground floor (166sqm*) and basement (111sqm*) tenancies are currently available for lease with interest and negotiations underway.
As a versatile and refurbished heritage asset, it occupies a prominent corner position with frontages to Bannister Street and Market Street, plus exposure to South Terrace, making it an exceptional opportunity for investors to own a piece of Fremantle history in one of the most activated and sought-after locations.
The property is for sale through Ben Younger and Nick Charlton of Cushman & Wakefield.
Ben Younger believes the building will command strong interest due to the heritage character, profile corner position, diversity of tenant mix noting it has enjoyed a strong occupancy history due to its central and prominent corner location.
“Positioned in Fremantle’s cosmopolitan ‘Cappuccino Strip,’ this site benefits from expansive prime retail street frontage and high pedestrian and vehicle traffic."
Nick Charlton added: “Fremantle is one of WA’s most popular tourist destinations outside of Perth CBD, with attractions such as Fremantle Markets, Fremantle Prison, Maritime Museum, and renowned restaurants, cafes, and entertainment venues all in close proximity to 85 Market Street”.
85 Market Street, Fremantle is offered for sale via an Expressions of Interest campaign closing Thursday, 5th September 2024 at 2pm (AWST).
*Approximate
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
