126 Best Street, Devonport TAS 7310
Unrivalled 7.4% Net ROI - Fully Leased Asset - Arcade In The Fourways Shopping Precinct
Located in Devonport's Fourways Shopping Precinct along Devonport's busy Best Street, Halliwell Property Agents are excited to bring the 'Lauriston Arcade' to the sale market, offering an outstanding 7.4% return at list price.
The property is comprised of a walk-through arcade connecting Best Street and the major Fourways Council carpark to the rear, six lease areas (divided across the three tenancies) across two floors (two-storey western side, single-storey eastern side), and common amenities area for tenants.
Three tenancies in place with great tenure, including:
- St John Ambulance Australia (Office, Retail & Training Facility)
- Tasmanian Government (Office of The Honourable Mike Gaffney MLC)
- Muscle-Gen Supplements (Retail)
Fully leased across three tenancies, the site produces a net income of approx. $68,522 p.a., and presents purchasers an excellent option to add to their portfolio or commence their venture into commercial real estate with a great spread of risk.
Details include:
- Constructed in 1977, with a building size of approx. 599sqm on a Title of approx. 466sqm.
- Versatile 'Central Business' zoning
- New roof recently installed to 50% of property, eliminating need for further works for substantial number of years into future
- Solid brick construction, aluminium windows and colorbond/GI roof
- Excellent main road position; appealing location
- Directly connected to major carpark
- 6 lease areas if required in future if required, creating potential for further increased returns
- Well presented ground floor tenancy areas
With returns at 7.4% and a firm list price, this is a rare opportunity to secure an outstanding commercial asset.
Contact the listing Agent, Alan Halliwell, with all enquiries or to schedule an inspection.
The property is comprised of a walk-through arcade connecting Best Street and the major Fourways Council carpark to the rear, six lease areas (divided across the three tenancies) across two floors (two-storey western side, single-storey eastern side), and common amenities area for tenants.
Three tenancies in place with great tenure, including:
- St John Ambulance Australia (Office, Retail & Training Facility)
- Tasmanian Government (Office of The Honourable Mike Gaffney MLC)
- Muscle-Gen Supplements (Retail)
Fully leased across three tenancies, the site produces a net income of approx. $68,522 p.a., and presents purchasers an excellent option to add to their portfolio or commence their venture into commercial real estate with a great spread of risk.
Details include:
- Constructed in 1977, with a building size of approx. 599sqm on a Title of approx. 466sqm.
- Versatile 'Central Business' zoning
- New roof recently installed to 50% of property, eliminating need for further works for substantial number of years into future
- Solid brick construction, aluminium windows and colorbond/GI roof
- Excellent main road position; appealing location
- Directly connected to major carpark
- 6 lease areas if required in future if required, creating potential for further increased returns
- Well presented ground floor tenancy areas
With returns at 7.4% and a firm list price, this is a rare opportunity to secure an outstanding commercial asset.
Contact the listing Agent, Alan Halliwell, with all enquiries or to schedule an inspection.
