Square metres: Subiaco’s Cat Cafe up for sale, cats not included

Kim MacdonaldThe West Australian
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Camera IconSubiaco's Cat Cafe. Credit: Supplied

Subiaco’s Cat Cafe Purrth is now for sale — minus the cats.

An interesting part of this sale is that it highlights where value can be found in a modern businesses.

In this case, the stars of the show — the 12 rescue cats who have been delighting paying customers for six years — have no value in the $245,000 sale.

The cats are not included in the sale as the owners believe it would be traumatic for them to be passed on, and will instead be rehomed with staff.

However, the sellers will provide training for new cats to take up residence at the cafe, giving it a new set of stars and a new identity.

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Ownership of the physical premises at 147 Rokeby Road is also not included, though the right to the leasehold on these premises is included.

The real value in the transaction is the instore equipment, its online store with remaining merchandise, and the designs for any merchandise sold through its online store and its website, www.Purrth.com.

It also buys the cafe’s considerable goodwill, which includes hundreds of regular customers.

And how do we measure goodwill these days? The answer is, largely, through the cafe’s impressive social media reach.

An advert for the cafe highlights that the purchase price includes the email details and social media accounts of more than 72,000 active customers, the Klaviyo details with automated customer flows to more than 15,000 active email subscribers, a Facebook account with more than 40,000 subscribers and an Instagram account with more than 17,000 subscribers.

The advert highlights that included in the sale is six years of data relating to sales, marketing and customers.

“This has been the most rewarding, challenging, fascinating, and soul-affirming experience of our lives,” the advert states.

But importantly, the new owner must love cats.

The advert appeals to those looking for a new purpose: “If you are fed up with meaningless work and want to do something that will have a genuine impact in the lives of countless people and animals, then you have come to the right place.

“Like the Cat Cafes of Tokyo, New York, London (and every other capital city in Australia) The Cat Cafe Purrth is home to 12 rescue cats and people purchase tickets online to spend an hour relaxing with them.”

It is selling through Jonathon Parker of Platinum Business Sales

Service stations still a vibe

Service stations are still popular with investors despite the rise of electric vehicles, with at least one agent claiming some in WA have been undervalued.

Many people have questioned the future of petrol stations, but Ray White Commercial WA agent Brett Wilkins believes they are solid investments — with some even selling too cheaply in WA.

He recently sold a Forrestfield service station on Milner Rd to an investor for $8.438 million.

The brand new truck stop was sold with a passing yield of 5.78 per cent with a 12 year lease to Vibe Petroleum.

With a massive 19 bowsers, plus a retail shop, the site also includes 3000sqm of developable land ready for fast-food restaurants and other uses.

Mr Wilkins sold the station on behalf of Vibe Petroleum.

“Service stations are still going to be the backbone of transportation for many decades, particularly in WA with our long distances,” he said.

“Many are also built on prominent commercial locations offering future development opportunities.

“Yields for service stations in WA are 100–200 points higher than comparable properties in the Eastern States, and this is resulting in increased purchaser inquiries from the Eastern States.”

Mr Wilkins said the recently completed service station was located in an excellent industrial area close to the soon-to-be-completed High Wycombe railway station.

“It was bought by a private investor wanting to take advantage of the security of a Vibe lease and the strong returns offered by service stations,” he said.

“Vibe Petroleum are the largest independent fuel retailer in Western Australia with 50 stations across the State.”

Camera IconVibe Forrestfield. Credit: supplied

New Broome development

If Broome is to get much-needed new infrastructure, it needs workers. And to get workers, it need houses.

Which is why the release of 33 new residential lots in Stage 11 of Broome’s Waranyjarri Estate is such an important step.

Most blocks range from 630sqm to 784sqm, with a selection of smaller lots from 480sqm, and one corner lot of 1053sqm.

Prices start from $183,000 and titles are expected to be issued by mid-2023. Eligible buyers will also benefit from up to $12,000 in incentives, including grants and savings on whitegoods and landscaping.

Stage 11 is also set to be home to a new 2253sqm childcare centre, on the corner of Yako Mall and Shingoro Street, which is expected to host up to 90 children.

The State Government is seeking expressions of interest from proponents to develop the site adjacent to a primary school. The release was made this week by Housing Minister John Carey and Community Services Minister Simone McGurk.

The release of Stage 11 comes as final works commence on a major distributor road called Tanami Drive, the main road through the centre of Waranyjarri Estate.

Waranyjarri Estate is WA’s only EnviroDevelopment and Waterwise accredited regional development — with a focus on clever, climate-responsive design to support sustainable community living.

It is expected to provide homes for 1400 new residents.

Waranyjarri is the first neighbourhood to be developed and delivered as part of the wider Broome North development, which is planned to include 4800 new homes for up to 13,000 new residents.

“This Government is using every lever it can to boost the supply of affordable housing across the State, and the release of these 33 new lots in Broome North will help meet the demand for new housing — particularly among young families and first-homebuyers,” Mr Carey said.

Ms McGurk said the childcare centre would help build social infrastructure and help parents return to work.

Housing shortage solution

There is nothing more frustrating than vacant homes in a region in the grips of a housing shortage.

But help is on the way, with 30 vacant townhouses in Karratha to be refurbished to lettable condition.

Rio Tinto has transferred the vacant townhouses in Bulgarra to the City of Karratha, providing $300,000 for the renovation.

The McGowan Government will provide a $500,000 grant to the City of Karratha, which will pick up the bulk of the bill, with a $3.7 million expenditure.

The funding will assist with upgrading electrics and air-conditioning, internal painting, carpentry, fencing, external sewer works and improved access.

Six of the 30 units are scheduled for completion at the end of July, and the remainder are due by the year’s end.

Dunsborough facelift

Speaking of upgrades, the 82 apartments that comprise Club Wyndham Dunsborough are set for a $5 million refurbishment.

Wyndham Destinations Asia-Pacific has begun an extensive project to refurbish all apartments fronting Geographe Bay.

Senior vice-president of acquisitions, procurement, property development and technical services, David Wray, said it was due for completion in December.

“After a couple of years worth of disruptions to our property development calendar, this has become one of our most extensive refurbishments. We are excited to finally begin this project, which will make Club Wyndham Dunsborough one of the crown jewels of our managed portfolio,” he said.

It is part of a vacation club, whereby club members pay for their accommodation through vacation credits.

The resort is popular with Club Wyndham South Pacific members, with an average of more than 80 per cent occupancy until January and more than 60 per cent all through until next April.

Camera IconClub Wyndham Dunsborough. Credit: supplied

Step too far

The State Government’s long-awaited paper on reforms to the Retirement Villages Act WA proposes a maximum time limit of 12 months to be placed on paying exit entitlements.

Property Council WA executive director Sandra Brewer said she was concerned about the retrospective proposal.

At present, late or departing residents or their trusts, are given the value of their home after the home is sold. Sometimes this takes more than 12 months, once renovations are included.

The State Government wants to put a 12-month time limit on returning these funds, but the Property Council claims this is a step too far into a private business.

“Overwhelmingly the 25,000 Western Australian retirees who call a retirement village home love their experience,” she said.

“On average, government receives very few complaints per year. In the context of around 25,000 retirement village residents, complaints requiring action or investigation represent less than one per cent of Western Australian retirement village residents.”

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