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58-60 Stewart Street, Devonport TAS 7310
Prominent Tenanted CBD Investment With Unique Opportunity!
Featuring two currently-tenanted premises, both with impressive glass frontage spanning in excess of 12 metres each, and positioned at the top of Stewart Street, less than 100m to the Devonport Mall, Halliwell Property Agents are pleased to bring these prominent CBD properties to the market.
The high profile properties are neighboured by a mixture of clothing stores, coffee shop, hair salon, gym and others, and with one tenant vacating end of March, provides purchasers with a unique opportunity to owner-occupy one site and benefit from the other's rental income, or re-lease the space at current market rates (currently advertised for lease).
58 STEWART STREET:
- Currently leased by National charity St Vincent de Paul Society and utilised as a retail clothing shop for the past 16 years. Vacating end of March 2022.
- Approx. 197sqm of total building space, with a retail area of approx. 179sqm currently configured as retail/open office with one built in room (removable), with amenities to the rear.
- Reverse cycle air conditioner installed, two bathrooms, showers and a kitchenette.
60 STEWART STREET:
- Leased and operating as National electronics retailer Leading Edge Electronics, with an initial lease term until June 2024 and Options to follow.
- Approx. 380sqm of total floor area, split between a fully renovated street-level showroom with office and amentias, and secured storage below ground level, with internal stair access and rear roller door access.
- Reverse cycle air conditioner installed, two bathrooms and two kitchens.
Both premises benefit from excellent branding opportunities and exposure, are air conditioned, have multiple nearby parking options, and have private off-street parking and access to/from the rear of the buildings in a common area.
As were originally designed, the site has the ability to be split into four tenancies in future, and with the tenant of 58 Stewart Street soon vacating, opportunity exists now to easily renovate and/or split this site into two tenancies, each with their own independent access, utilities, frontage and amenities.
Rental income is currently $66,332 p.a plus GST and Outgoings paid by the tenants, however with one tenant vacating, when re-leased at current market rates, rent is expected to be $75,000 p.a plus GST and Outgoings paid, representing a 6.5% net return to investors with dual occupants.
Listing price is $1,150,000.00
Please contact Colin Rowlands at Halliwell Property Agents for further information or to schedule an inspection.
The high profile properties are neighboured by a mixture of clothing stores, coffee shop, hair salon, gym and others, and with one tenant vacating end of March, provides purchasers with a unique opportunity to owner-occupy one site and benefit from the other's rental income, or re-lease the space at current market rates (currently advertised for lease).
58 STEWART STREET:
- Currently leased by National charity St Vincent de Paul Society and utilised as a retail clothing shop for the past 16 years. Vacating end of March 2022.
- Approx. 197sqm of total building space, with a retail area of approx. 179sqm currently configured as retail/open office with one built in room (removable), with amenities to the rear.
- Reverse cycle air conditioner installed, two bathrooms, showers and a kitchenette.
60 STEWART STREET:
- Leased and operating as National electronics retailer Leading Edge Electronics, with an initial lease term until June 2024 and Options to follow.
- Approx. 380sqm of total floor area, split between a fully renovated street-level showroom with office and amentias, and secured storage below ground level, with internal stair access and rear roller door access.
- Reverse cycle air conditioner installed, two bathrooms and two kitchens.
Both premises benefit from excellent branding opportunities and exposure, are air conditioned, have multiple nearby parking options, and have private off-street parking and access to/from the rear of the buildings in a common area.
As were originally designed, the site has the ability to be split into four tenancies in future, and with the tenant of 58 Stewart Street soon vacating, opportunity exists now to easily renovate and/or split this site into two tenancies, each with their own independent access, utilities, frontage and amenities.
Rental income is currently $66,332 p.a plus GST and Outgoings paid by the tenants, however with one tenant vacating, when re-leased at current market rates, rent is expected to be $75,000 p.a plus GST and Outgoings paid, representing a 6.5% net return to investors with dual occupants.
Listing price is $1,150,000.00
Please contact Colin Rowlands at Halliwell Property Agents for further information or to schedule an inspection.
