The Former Taylor Marine House Fremantle Sold by Burgess Rawson

The former Taylor Marine House at 56 Marine Terrace Fremantle sold has by Burgess Rawson’s Luke Randazzo & Rob Selid for $5,520,000.

The property has been owned by the same family for nearly 25 years. The two level commercial office is fully leased to two tenants with an annual income of $260,350 representing a 4.71% yield and improved rate per square metre of $2,682 on the land.

The 2,058sqm property is one of the few significant underdeveloped sites in the Marine Terrace entertainment precinct residing on the corner of Marine and Norfolk St just several doors down from the Esplanade Hotel. Burgess Rawson Manager Luke Randazzo said “The property was one of the final big underdeveloped sites on the strip with no heritage implications so it offers the new buyers an array of options for the future with a strong holding income”.

The sellers were based abroad and decided it was the right time to sell the asset whilst a local buyer acquired the property.