This article is from the Australian Property Journal archive
A SUBIACO commercial investment leased to The Village Bar and Wilson Parking has sold for $2.85 million.
The inner-Perth 531 Hay Street property comprises the 421 sqm bar leased on a 35-year term from September 2010, and a common area car park leased to Wilson.
It returns a total net income of around $266,600 per annum, with the sale price reflecting a circa-9.35% yield.
The Village Bar comprises a 285 sqm main bar area, and a commercial kitchen, manager’s office and store room, and covered yard area and beer cellar.
The property forms part of a strata-titled site that has a total of 20 lots, including ground floor retail and commercial space and first-floor offices.
Vincent Siciliano and Matthew Lyford of LJ Hooker Commercial negotiated the sale via offers to purchase.
Australian Property Journal
