22 Rooke Street, Devonport TAS 7310
PREMIER CBD RETAIL INVESTMENT - LEASED TO COTTON ON - 6.7% NET RETURN
Investment opportunities of this quality are rarely presented in the increasingly-desirable Tasmanian commercial property market.
This substantial property at 22 Rooke Street is fully leased to Cotton On, a household name in retail and part of the Cotton On Group, Australia's largest global retailer.
Boasting one of the most significant footprints in the Devonport CBD, the site is fitted to an extremely high standard, having undergone extensive refurbishment and fit-out works upon the tenant taking occupancy in late 2014. The premises comprises over 700sqm of high end retail space at ground level, with modern large glass panels spanning it's frontage, and the tenant's iconic branding over double-storey height dominating the external landscape.
The building remains in excellent condition, and is neighboured by other notable national retailers such as EB Games, Kathmandu, Factorie, and others.
The current lease continues until 2025, with just under 4 years remaining of it's initial 10 year term. Fixed 3.5% annual rent increases are in place, with a 6.7% net yield on offer at the listing price.
This is an outstanding chance to secure a premium investment with a national retailer as tenant, in an increasingly desirable market place.
The property is listed for sale at $2,800,000.
For all enquiries, please contact the exclusive listing agent, Colin Rowlands of Halliwell Property Agents.
This substantial property at 22 Rooke Street is fully leased to Cotton On, a household name in retail and part of the Cotton On Group, Australia's largest global retailer.
Boasting one of the most significant footprints in the Devonport CBD, the site is fitted to an extremely high standard, having undergone extensive refurbishment and fit-out works upon the tenant taking occupancy in late 2014. The premises comprises over 700sqm of high end retail space at ground level, with modern large glass panels spanning it's frontage, and the tenant's iconic branding over double-storey height dominating the external landscape.
The building remains in excellent condition, and is neighboured by other notable national retailers such as EB Games, Kathmandu, Factorie, and others.
The current lease continues until 2025, with just under 4 years remaining of it's initial 10 year term. Fixed 3.5% annual rent increases are in place, with a 6.7% net yield on offer at the listing price.
This is an outstanding chance to secure a premium investment with a national retailer as tenant, in an increasingly desirable market place.
The property is listed for sale at $2,800,000.
For all enquiries, please contact the exclusive listing agent, Colin Rowlands of Halliwell Property Agents.
