23 Cale Street, Midland WA_Property for Sale

23 Cale Street, Midland, WA, 6056, AU

23 Cale Street, Midland WA

Asset Description

JLL as exclusive selling agents are pleased to bring to market The Principal Bar & Restaurant, 23 Cale Street, Midland WA.

The offering presents a unique opportunity to acquire a heritage gem in the heart of Midland that seamlessly blends its classic colonial heritage with modern hospitality excellence.

As part of the Old Midland Junction School Heritage Area, the Principal Bar & Restaurant stands out with its unparalleled character and charm. The property boasts approximately 470 sqm of ground floor space, complemented by a 145 sqm basement back-of-house area and 160 sqm of shady outdoor courtyards, providing ample trading capacity for the current 445 maximum patrons and a platform for future business innovation.

Strategically positioned to benefit from the imminent Metronet East redevelopment and Midland's status as a Strategic Metropolitan Centre, this investment promises exposure to increased foot traffic and economic growth.

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Attributes

Land area gross

962 m²

Media

Investment Highlights

KEY INVESTMENT HIGHLIGHTS INCLUDE:

Landmark Hospitality Asset: Acquire a piece of Midland's history with the iconic Principal Bar & Restaurant, a cornerstone of the local dining scene for decades.
Turnkey Operation: Walk into a fully equipped, operational business with an established customer base and reputation for excellence.
Prime Corner Location: Commanding presence on a generous 962 sqm site at the heart of Midland's burgeoning hospitality precinct, ensuring high visibility and foot traffic.
Expansive Trading Platform: Boasting approximately 470 sqm of ground floor space, 145 sqm basement back-of-house area, and 160 sqm of outdoor courtyards, currently accommodating a maximum of 445 patrons.
Very Limited Competition: Secure a premier Midland pub offering, with the only competition within the city centre being The Commercial Bar and Kitchen and The 7th Ave Bar & Restaurant.
Value-Add Opportunities: Potential to work with the existing robust framework to further enhance the business through a curated approach, managerial innovations and new targeted marketing initiatives.
Metronet East Growth Catalyst: Positioned to capitalise on the imminent Metronet East redevelopment, promising increased foot traffic via the new Midland Station.
Strategic Proximity: Ideally located near major destinations including the adjacent Midland Gate Shopping Centre, St John of God Midland health campus, and numerous government offices, short-stay accommodation, educational and community facilities.
Robust Local Economy: Benefit from Midland's status as a Strategic Metropolitan Centre, with ongoing government and private sector investment driving future economic growth.
Heritage Cachet: Part of the State-listed Old Midland Junction School Heritage Area, offering unparalleled character in a sea of modern developments.