103 Oldaker Street is positioned on a corner site and into Kempling Street, a popular shopping precinct in Devonport. Surrounded by many retailers including UBet, IGA Supermarket, Takeaway outlets, a school and Doctors Surgery, with long standing tenancies in place.
Tenants include RJ Print & Signs, (Shop 1 &2), Taco Villa Restaurant (Shop 4) and Indian Curry Restaurant & Grocery (Shop 5). There is one vacant section of the property (Shop 3), with affordable rent on offer and the vacancy rate in the area rapidly declining.
The property borders the main carpark for the shopping precinct, benefiting from a significant volume of daily traffic accessing that area. The two restaurant tenancies are popular of an evening.
With the remaining property leased, the return at list price would be an excellent 7.8% net, based on an expected income of $62,440 p.a., though with one property vacant, an adjustment to the price has been made accordingly. The current income for the existing 3 tenants is $49,440 p.a. Tenants pay all outgoings and utilities associated with the property.
List price is $799,000.
Please contact Colin Rowlands at Halliwell Property Agents for all enquiries.
For more details, please email agent