16 Murray Street, East Devonport TAS 7310
** UNDER CONTRACT ** Affordable Tenanted Investment - Licensed Post Office - East Devonport Location
** UNDER CONTRACT ** For those seeking to enter the commercial market or those looking to add to their portfolio with an affordable property - Halliwell Property Agents are pleased to exclusively bring this investment opportunity to the market, with a quality tenant in place and located in an in-demand East Devonport area.
The building of approx. 96sqm is well maintained, with improvements and maintenance carried out particularly over the past 6-7 years, including new roofing and guttering, air conditioning, re-plastering and paintwork. All interior upgrades completed in line with Australia Post requirements.
The Title of approximately 336sqm has frontage to the busy Murray Street shopping complex, as well as side and rear access for vehicles and pedestrians as required (with access to the businesses PO Boxes). The building is adjacent to the TT Line Terminal, where the Spirit of Tasmania ships dock daily, making it a high exposure site with excellent future development prospects if required.
The tenant, operating as the Licensed East Devonport Post Office, holds a 5 year lease term expiring March 2025, with a further long term Option to follow. This is a great opportunity for investors to add to their portfolio, as the property presents a long term "set-and-forget" option for those seeking such investments in the market, particularly with the nature of the tenancy and the exclusive nature of it's operation.
Tenant pays Council Rates and TasWater Rates, with the Vendor currently paying Land Tax. Rental income produces a net return of approx. 4.8%.
Listing price is $290,000, with no GST expected to apply, making this an affordable opportunity for those seeking to enter the commercial property market, and likewise for those seeking to add to their portfolios.
Contact the listing agent, Colin Rowlands, for further information or to schedule an inspection.