102 Alexander Street, Shearwater TAS 7307
** UNDER OFFER ** Fully Leased to Lifeline Tasmania - Substantial Retail/Warehouse Investment Opportunity - 6.3% Gross ROI w/Future Growth!
** UNDER OFFER ** Positioned in the ever-expanding Shearwater region and only 10 minutes from Devonport, major ports and more, this property presents a rare opportunity to secure an investment on one of only a few existing commercial spaces along Shearwater's main road; Alexander Street.
Neighbouring the prominent Becks Hardware store, and adjacent to the Woolworths Shearwater Complex, this property offers over 800 square metres of commercial building area and sits on a site of 1,671 square metres.
The property is fully tenanted by Lifeline Tasmania, with significant aesthetic and functional improvements carried out over recent years. The site presents well both internally and externally, with the tenancy benefiting from a large open-plan retail area, in addition to an adjoining warehouse/secondary areas of substantial floor area also, for cleaning, sorting and storage of donated goods.
The property features excellent signage opportunity and exposure along Alexander Street, with large warehouse and retail storage areas on site. Security gates, barred windows and roller doors add additional security to the property without detracting from it's kerb appeal, which has seen upgraded with repainted surfaces and signage. There is undercover frontage and a sizable parking lot/driveway access.
The property offers toilets, kitchen facilities, office, large retail sections, three phase power, secure outdoor storage, mezzanine areas and warehousing. if required in future, the property could be reverted back to 2 tenancies with little cost/difficulty.
The current lease is under a gross rental arrangement, offering 6.3% gross ROI at list price. Landlord pays statutory outgoings of approx. $4,727 p.a, with Tenant paying all utilities in addition to rent.
With excellent future rental growth prospects and with the versatile nature of the site, an excellent investment opportunity exists with the purchase of this property.
Listing price is $689,000. GST is not expected to apply, however all prospective purchasers are encouraged to seek their own advice.
Please contact Colin Rowlands at Halliwell Property Agents for further information.