Halliwell Property Agents are pleased to bring this commercial opportunity to the market. Located in York Street - Devonport's City industrial area, the property has two tenants, one being Southern Cross Protection, the other being Trenching Systems Australia.
Southern Cross Protection have several years remaining on their initial lease, with Options to follow. Their leased area includes offices, kitchen, bathrooms and some warehouse space. The tenant to the rear is prepared to sign a new three year lease for the rear of the property, at market rate, or is also prepared to vacate the warehouse for the purchaser if required.
With both in place, this provides a yield of 8.8% at listing price, with all outgoings paid by the tenants. Alternatively, the Southern Cross Protection lease provides a great return on the offices while the purchaser can utilise the warehouse for their own storage or workshop. The warehouse has three phase power connected and is used with the covered bay along the driveway.
With a total combined building size of over 350sqm on a site of 824sqm, this is an excellent investment opportunity close to town. The location is adjacent to the Bass Highway and in close proximity to busy Formby Road, allowing for easy access either from the Highway or into the CBD.
Listing price is $450,000.
Please contact Colin Rowlands at Halliwell Property Agents for all enquiries or to arrange an inspection.
For more details, please email agent