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Overview
Secure Wine Bar Investment | Strong Yield & Long-Term Lease
This commercial property, Unit 2 at 1 Fairywren Street, Banksia Grove, is a secure investment opportunity located within the modern Grandis Centre precinct. The ground floor tenancy is currently leased to The Local Nook Pty Ltd under a new 7-year lease agreement, with an additional 5-year option, ensuring a reliable income stream and fixed annual rental growth for investors.
The premises offer approximately 70 square meters of net lettable area, thoughtfully fitted out as a boutique wine bar. The interior features a stylish service counter, customer seating areas, extensive glazing that allows natural light, timber-look flooring, display shelving, and quality hospitality finishes throughout, creating an inviting atmosphere for patrons.
The lease commenced on 16 June 2026 and is set to expire on 15 June 2033. Rental income will begin following an initial leasing incentive period. The tenant holds an approved Small Bar Licence, supporting the long-term hospitality use of the premises.
Investment highlights include:
- Net rent of $44,500 per annum plus outgoings and GST
- New 7-year lease expiring in June 2033
- Further 5-year lease option available
- Fixed 3% annual rental increases
- Market rent review at option period
- Approximately 70 square meters of net lettable area
- Approved Small Bar Licence
- Modern mixed-use centre built in 2021
- Prominent corner location with excellent exposure
- Shared customer parking throughout the complex
- Strong surrounding residential catchment
Situated in the heart of Banksia Grove, the property is part of the well-established Grandis Centre, surrounded by complementary businesses such as Grow Medical Group, Busy Bees Childcare, Grandis Dental, and The Grove Church. The centre services a rapidly expanding residential community within one of Perth's established northern growth corridors.
With its modern hospitality fit-out, approved liquor licence, and long-term lease profile, Unit 2, 1 Fairywren Street presents an attractive investment opportunity underpinned by a committed tenant and ongoing rental growth.
All figures are approximate.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Banksia Grove WA 6031
Measurements
| Type | Dimensions |
|---|---|
| Floor Area | 70 m² |
Market Insights for Banksia Grove WA 6031
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