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Historic Property - Low Cost Commercial Investment - Approx. 8% Net Yield

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Description

Located in Gilbert Street, Latrobe, a busy township on the North West Coast of Tasmania, this historic property was constructed in 1890 and remains on the Tasmania Heritage Register.

The building is tenanted by a popular, long-established florist, returning approx. 8% net yield on listing price. Tenant pays all standard outgoings in addition to rent and has a sub-lease arrangement in place for a secondary occupier. The current Lease has several years remaining with additional Lease option to follow.

The building spans across two floors for a total of approx. 232 sqm, zoned general commercial, and is well positioned in the main street. The building is in generally good condition, with an engineers report recently completed on the facade of the building confirming it's integrity, which can be provided to prospective purchasers upon enquiry. While the usage is currently fully leased as commercial, the zoning allows a future option of commercial on ground floor with a 3 bedroom residence upstairs, owing to it's current configuration.

The block is approx. 519 sqm in size and is well maintained.

A great opportunity to break into the commercial investor market or add to an existing portfolio, with a price of $250,000 and an excellent 8% net yield.

Please contact the listing agent, Colin Rowlands, for all enquiries or to schedule an inspection.

Contact

Colin Rowlands

Colin Rowlands

0418 333 394

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