For Sale

WHERE HEALTH EQUALS WEALTH

Key Property Information

• 25+ yrs of established gym trade
  
• Goodlife Gym lease expiring 2037
  
• Two further 5-year options to 2047
  

Premium Net-Leased Investment Opportunity

Industrial & General presents 804 Beaufort Street, Mount Lawley - a fully refurbished, purpose-built health and fitness asset underpinned by a long-term net lease to a national operator. Offering genuine "buy and hold" appeal, this is an institutional-grade opportunity combining secure income, embedded rental growth, and a commanding position on one of Perth's most tightly held inner-city retail strips.

A 15-year Commitment With Over a Decade Remaining

Goodlife Operations Pty Ltd is committed to this site on a fifteen-year lease from 2022, with more than eleven years still to run and two further five-year options extending the potential lease life to 2047. This is a fully net lease with outgoings recovered from the tenant, annual rent reviews at the greater of CPI or 3%, and a six-month gross rental bank guarantee securing cash flow from day one. A fixed rental increase applies to the net rent immediately following settlement, delivering an incoming purchaser an instant uplift to returns.

A Near-New, Purpose-Built Asset

Comprehensively refurbished internally and externally in 2022, the property presents as a state-of-the-art two-level gymnasium spanning approximately 2,010m². Plant and equipment throughout - including air conditioning, hot water systems, and a disabled access lift - is near new, under warranty, and classified as lessor's fixtures. Attractive depreciation benefits are available to the incoming buyer, further enhancing after-tax returns. The site also features both open and undercover onsite parking, supporting the tenant's strong and consistent patronage.

An Address With Twenty-Five Years of Trading History

Positioned with major frontage to Beaufort Street just four kilometres from the Perth CBD, the property sits at the centre of one of Perth's most vibrant and affluent inner-ring precincts. Mount Lawley's sophisticated demographic and lifestyle-oriented retail environment have supported a gym use on this site for more than twenty-five years - a trading history that speaks directly to the tenant's long-term confidence in the location.

Competitively Positioned in the Market

Suburban commercial assets of this calibre are attracting strong investor demand, with yields tightening in line with the quality of covenant and security of income on offer. The property is being brought to market as a going concern, positioned competitively against comparable net-leased investments nationally - reflecting both the strength of the Goodlife covenant and the exceptional depth of remaining lease term secured to the asset.

Investment Highlights

• 15-year net lease to Goodlife Operations Pty Ltd expiring 2037 with 11+ years remaining
  
• Two further 5-year options to 2047
  
• Annual rent reviews - greater of CPI or 3%
  
• Six-month gross rental bank guarantee
  
• Net passing income over $700,000.00 per annum plus GST, plus Outgoings
  
• Fully refurbished 2022 - plant and equipment near new and under warranty
  
• Depreciation benefits available
  
• 2,010m² over two levels with onsite parking
  
• Four kilometres from Perth CBD with major Beaufort Street frontage
  
• Twenty-five-plus years of established gym trade on site
  

For further information or to request the complete information memorandum, contact the exclusive marketing agents at Industrial & General.