Joint exclusive sales agents LJ Hooker Commercial Perth and Richard Noble & Co are presenting astute investors with a once-in-a-generation opportunity to secure a property portfolio in the tightly held retail precinct of Cottesloe.

The portfolio consists of 1-7 Napoleon Street and 19-21 Napoleon Street. It is the first time these properties have been offered on-market in approximately 67 and 80 years respectively. They are being offered as a combination or individually.

The portfolio, with excellent lease covenants and negligible vacancy risk is For Sale by Offers Invited closing at 2pm (AWST) on Thursday 25th March 2021 – unless sold prior.

19-21 Napoleon Street:
Bathing in north facing light 19-21 Napoleon is situated in the heart of Napoleon Street. The single-storey freehold building features two retail shops with a total lettable area of 112m2 (GLAR). The 511m2 site also features a rear car park accessed via Clapham Lane that could provide opportunity for additional development.

Occupying 19-21 Napoleon Street is the iconic local gifts and homewares retailer Shiraz, which has been part of the street landscape for the past 50 years. Next door is caf Up Town which has recently exercised their lease option to February 2026.

The Opportunity:
The Napoleon Street portfolio has all the fundamentals investors look for, but rarely manage to combine:
An outstanding retail investment located in a premier beachside suburb
Highly visible location
Less than 200 metres from Cottesloe train station
Tenants that have long-standing and well established businesses
All rents at market levels
High underlying land value in proportion to the capitalised asset value

Location:
Napoleon Street has consistently been one of Australia’s strongest high street retail precincts with historically low vacancies. Cottesloe is a suburb revered for its relaxed beach-side lifestyle. Architecturally and geographically stunning Cottesloe has serious ‘wow’ factor. With the beach at your door step and the city centres of Perth and Fremantle a short drive away makes it such a desirable location.

For Sale:
Offers Invited closing 2pm (AWST) Thursday 25th March 2021 – unless sold prior.

Information Memorandum:
Available upon request from Exclusive Selling Agents.

For further information on this iconic portfolio, or to arrange an inspection, contact the Exclusive Selling Agents.

* approximate