Porter Commercial Sell $2.35 million Seaside Investment
Situated metres from the beach, the iconic Golden Bay Shopping Village was recently sold by Porter Commercial to local investors. The property was sold with a passing net income of approximately $180,000 p.a. which shows a healthy return on investment yield of 7.6%p.a. for the new owners, with plenty of future upside.
Originally a sleepy seaside locality, the Southern metropolitan corridor has seen rapid population growth over recent years. Improved infrastructure and development of local schools and community facilities are good indicators of the population increase the area is presently experiencing.
The Centre comprises a generous corner block of 3,454sqm which is situated just metres from a stunning, relatively untouched stretch of WA coastline. Improvements comprise a 1980’s style single level commercial building which enjoys a spread of risk over six tenancies including a bottle shop, real estate, hair dresser, fish and chips, chiropractor and café totalling 983.1sqm of NLA. Being service orientated rather than supermarket focused, the centre is complimentary to current community needs.