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ICONIC FREEMASONS HALL IN SUBIACO LISTED FOR SALE

As published in The West Australian, Wednesday, 2nd August 2017

The Peard Real Estate Group has listed for sale its corporate head office building which is the iconic Freemans Hall at 181 Roberts Road, Subiaco. It has been listed for sale at $5,750,000 with AXIA Corporate Property.

Peter Peard, CEO of the Peard Real Estate Group said the sale of the corporate office would allow the company to invest in new property management portfolios.

Selling agent Wayne Mitsikas, Director of Investment Sales at AXIA Corporate Property said the Peard Real Estate Group would be leasing 50% of the building after the sale of the property at $150,000 per annum for an initial five year term.

“The Freemasons Hall is arguably one of the best office environments outside the Perth CBD and has been beautifully refurbished with character improvements.

“It covers a land area of 886sqm with a building area of 751sqm and onsite parking for 18 car bays. The building is perfectly located close to the CBD and the heart of Subiaco and has easy access to a wide variety of cafes and restaurants.

“We expect a high level of interest in this unique building from both investors are well as owner occupier buyers because of the very strong demand that currently exists in the Perth commercial property market for buildings with prime tenants such as the Peard Real Estate Group,” he said.

Peter Peard added that the sale of the Freemasons Hall would allow the company to significantly boost its investment in property management portfolios.

“Over the past six months, we have been approached by several real estate agencies offering to sell their property management portfolios.

“The Peard Real Estate Group is planning to take advantage of these opportunities as now is a prime time to expand our business in a counter cyclical market.

“This process has already begun with our company recently acquiring three property management portfolios in the Perth metropolitan area. We continue to assess quality property management portfolios and look forward to continuing to provide exceptional service to our clients.

“The next year will see a major shakeup in the Perth real estate industry and our company is planning to grow from strength to strength by aggressively expanding our property management division during the coming months.

“However, we recognise our people are the most valuable asset in our organisation, and their continued high performance allows us to assess these opportunities to attain scale in a service orientated industry,” he said.