EIGHTH AVENUE_

43-53 EIGHTH AVENUE, MAYLANDS

In May 2019, ADC_ acquired a retail investment located in the heart of the Maylands retail precinct, approximately six kilometres north of the Perth CBD.  Originally operated as the Lyric Theatre in the 1920’s, the property comprises 1,140m2 of improvements in a mix of single and double storey buildings that are leased to a range of tenants including BWS Liquor, Milk’d café and Henry on Eighth bar/restaurant.  

Located only 200 metres from the Maylands Train Station, the 1,705m2 site presents as a medium term hold with considerable opportunity for income growth through repositioning of the building and tenancy mix, or a full redevelopment to mixed retail, food and beverage and residential with six storeys currently allowable on the site.

ADC_ received planning approval in February 2021 for a 7-storey mixed-use development on the site comprising a mix of 5 ground floor tenancies, 52 contemporary apartments on the upper floors, private residents amenity and a spacious green piazza along iconic Lyric Lane.

See the Lyric Theatre Residences project information page via the link below for an update on the latest proposed redevelopment plans for the site.