Perth, 29 July 2014 – A private investor has acquired a high profile retail property occupied by the state’s leading coffee franchise, Dome Coffee, for $2.7 million.
Located at 21 Cale Street, opposite the bustling Midland Gate Shopping Centre, the 1,103sqm property features a 619sqm refurbished heritage listed building currently utilised as a café, office and training centre.
CBRE’s Michael Milne, who negotiated the sale, said the property represented an outstanding long term investment opportunity.
“Securely leased to Dome Coffees Australia until 2029, this property received widespread interest from a range of buyers looking to acquire a low risk, low maintenance investment in one of Perth’s fastest growing areas,” Mr Milne said.
“Located on the doorstep of one of Perth’s busiest shopping centres, and with more than 24 metre’s frontage onto Cale Street, this was truly a unique opportunity to secure an outstanding investment.”
The property is currently leased to Dome Coffees on a 21-year term with three additional 10-year options.
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