A significant new deal has been brokered at 105 Rokeby Road, Subiaco. This property, featuring a capitalisation rate of 4.13%*, spans approximately 667 sqm of prime land in Subiaco's town centre.

Chemist Warehouse, a well-established tenant, has been operating from this site for around five years, ensuring a stable and reliable income stream. Prior to Chemist Warehouse, the property was leased by Esprit, who vacated a few years before the current tenant took control.

The sale was managed by Ahmad Ibrahimi of Cygnet West, with assistance from myself. This transaction underscores the robust demand for high-quality real estate in Subiaco, with the land rate equating to $6,300/sqm* and one of only a handful of sales on this high street in the last 5 years.

Subiaco has seen a remarkable resurgence recently. According to Damian Stone of Q Research, the office vacancy rate in Subiaco has halved to under 10%. This significant reduction in vacancy rates highlights the growing appeal of Subiaco as a prime location for both businesses, with many financial and mining services companies seeking tenure.

Adding to this vibrancy is the development at One Subiaco, which has not only brought hundreds of new residents but also attracted many new F&B and retail businesses to the area including Subi Continental and Pavilion Fresh supermarket, further injecting new life into the local community and economy.

For context, the most recent similar sale on Rokeby Road prior to this was the transaction of 132 Rokeby that transacted for $3m + GST by Ray White Commercial late 2023. This was 460sqm* of land on the corner of Barker Road with a 356sqm* vacant office/retail building that had been de-fitted.

Before that the the other most recent comparable sale was 28 Rokeby Road, which I sold off-market in 2023. This property, measuring 390 sqm*, sold for $2,100,000, translating to a land rate of $5,384/sqm*. That sale was concluded on a yield just over 5%. 

This latest transaction at 105 Rokeby Road highlights the continued attractiveness of Subiaco as a prime location for investment. With a strong tenant in place, a competitive capitalisation rate, and a vibrant local market, this property represents a solid addition to any investment portfolio. 

*Approximate