112-114 George Street is an outstanding, investment grade, commercial property located in the Launceston CBD - very few opportunities currently on offer in the Tasmanian property market compare in quality. The property was completely redeveloped to a very high standard in 2016 and provides a strong rental income with lucrative tax depreciation benefits. A true 'jewel in the crown' addition to any property portfolio.
NAI Harcourts are pleased to offer this property to the market by expressions of interest with offers invited over $4m and a closing date of 4th April 2019.
- Key property holding in the Launceston CBD
- Offers invited over $4m (circa 7% return)
- 100% leased until 2025 to national tenants Harcourts & Shadforths (IOOF)
- WALE of 6.7 years* (as at Feb 2019) both tenants have 2 x 5 year options
- Approximate net income of $285,508 per annum
- 1264m2 land and 1467m2 building over two levels
- Originally constructed in 1900 and completely redeveloped in 2016 to an A-Grade standard
- Elevator access to the first floor and fully DDA compliant
- Substantial depreciation benefits available to the purchaser
- 20 car spaces at the rear of the property
For more information please contact either Andy Howell or Nick Oliver of NAI Harcourts North. 'Commercial Real Estate Services, Worldwide.'
For more details, please email agent