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High Yielding Retail Investment with Immense Exposure

319-321 Wellington Street, LAUNCESTON TAS, 7250

Sold

Property Sold in 319-321 Wellington Street, LAUNCESTON TAS, 7250

Listing ID:
11357508
Status:
Sold
Price:
$850,000
Last Updated:
27/09/2019
Icon building

Property Type

Retail
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Land Area

590 SQM
Icon size

Floor Area

590 SQM
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Parking

0

High Yielding Retail Investment with Immense Exposure

An outstanding opportunity to secure this substantial high profile commercial asset Leased to CH Smith Marine retail store and Dive Centre located in a strategic pocket of Wellington St opposite Hungry Jacks, Caltex Service Station and Highway on/off ramp.

Featuring circa 590m2 of high clearance, clear span retail space with parking at the door, 115m2 separate building fronting Wellington Street and significant 465m2 basement storage area accessed via invaluable right of way from Eardley St.

The configuration of the property offers investors potential for future multiple tenancies with the landlord currently retaining the right to access part basement storage area.

- Partway through long 3 + 3 + 3 + 3 year lease commencing September 2011 with three year renewal from September 2017
- Substantial building frontage providing ideal tenant signage
- High yielding investment - circa 8%
- Tenant pays 100% of all usual outgoings including Land Tax

Net rental from settlement of $65,600pa + GST
(assuming 2.3% CPI increase in Sept)

For further details contact Blake Shepherd

For more details, please email agent

Shepherd & Heap

49 Cameron Street, Launceston, TAS 7250


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