Savills News

Iconic Fremantle property to generate buyer contest

A striking three-story commercial building in the heart of Fremantle’s entertainment strip is coming to market, representing a significant investment opportunity within well-known South Terrace. 

Savills Australia’s Barney Dear and Nick Charlton have been appointed to sell the 923 square metre site at 33 South Terrace Street via an expressions of interest campaign closing Thursday 17 October 2019.

The property is currently tenanted by the popular Monk Craft Brewery & Kitchen, who have a lease until April 2020 with 3x5 year options to renew.

“The property provides approximately 1,824 square metres of floor area, plus balconies, with 35 metres of frontage onto busy South Terrace,” said Mr Dear. “The main dining and bar area is raised off South Terrace and includes a 214 square metre external alfresco area, central bar and grill, and a bar and sit down dining area for approximately 350 patrons.”

Mr Dear said the building also features a full commercial kitchen, offices and amenities on the ground floor, along with additional offices, storage, and carparks on the basement level, with vehicle access from Essex Lane.

“The property is only 75 metres from the Fremantle Markets, and within walking distance from the Fremantle Boat Harbour and the Fremantle Train Station, making it an ideal location for investment,” said Mr Charlton.

“While the building is currently utilised as a brewery and restaurant, under the current planning codes, it has the ability to be repurposed or further developed upon.”

Mr Dear was positive about the future of Fremantle. “Fremantle is benefiting from an unprecedented wave of investment with new developments in office, retail, hotels and residential apartments. These new projects will result in a substantial increase in office workers, tourists and full time residents into the Fremantle CBD. Some of Perth’s most prominent private investors and property companies, such as Minderoo, Silverleaf Investments, Sirona, SKS Group, ADC and Yolk Property Group, are convinced of the future of Fremantle and are jointly investing hundreds of millions of dollars into these developments.”

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