Mixed-use building on Perth's Queen Street sold for $4.89 million

A mixed-use building on Perth’s high profile Queen Street has been sold for $4.89 million. 

The period building at 26 Queen Street was contested with more than 60 Information Memorandums provided, said Knight Frank Partner, Capital Markets, Todd Schaffer.

Schaffer said the building was positioned to capitalise on the resurgence of the top end CBD retail market, particularly around the King/Queen Street and Raine Square precinct. 

He said its location, 100% occupancy and offering had made it attractive to a broad range of investors. 

Knight Frank senior sales executive Rick McIntosh-Whyte said with two new hotels soon to open nearby and the continued evolution of Raine Square and Kings Square, the Queen/King Street precinct would continue to attract high levels of interest. 

The building is arranged over four levels providing flexible accommodation with a total net lettable area of 740 square metres.