A premium commercial suite in Subiaco has sold off market for $7,000 per square metre, the highest rate achieved for a strata office in the suburb in several years.
The 92sqm first-floor office at 5/23 Railway Road, including two secure car bays, was transacted by Sterling Property Managing Director Brian Neo via a targeted off-market campaign.
The result sets a new benchmark for strata office pricing in the precinct and highlights continued demand for quality commercial space in fringe-CBD locations like Subiaco.
Built in 2015, 23 Railway Road is a boutique mixed-use development just 100 metres from Subiaco Train Station and within walking distance of One Subiaco, the Subiaco Hotel and a range of hospitality and lifestyle amenity.
Mr Neo said buyer appetite for well-located, high-quality strata offices remains resilient particularly in Subiaco.
“Subiaco continues to outperform expectations. While some predicted a slowdown following its post-COVID resurgence, what we’re seeing on the ground is renewed confidence and consistent buyer depth,” Mr Neo said.
“The combination of walkable amenity, transport access and high-quality stock continues to attract investors and owner-occupiers seeking long-term value.”
Subiaco was among the first Perth precincts to benefit from the post-COVID shift toward decentralised, lifestyle-focused commercial locations. Despite forecasts of market softening, strata office values have remained strong, supported by low vacancy, improved infrastructure and limited supply of comparable assets.
The property was sold to a private buyer following direct engagement through Mr Neo’s off-market network.
For pricing benchmarks or to discuss current buyer demand, contact Brian Neo on 0411 868 486.
