2/3 Friend Street, Stony Rise TAS 7310
** UNDER CONTRACT ** SUBWAY- Renewed 10 Year Lease - Rare, Blue Chip, Prized Asset!
** UNDER CONTRACT ** Halliwell Property Agents are excited to present this highly-prized commercial investment opportunity to the market, occupied by the world's largest sandwich chain in Subway, with over 42,000 outlets across the globe!
As tenant, Subway have occupied the site in Devonport's booming Homemaker Centre since the sites inception, and they remain one of the original tenancies, along with the neighbouring BP, McDonalds, Harvey Norman and others.
Alongside the aforementioned occupants of the Homemaker Centre, the site also boasts occupants including Bunnings, Supercheap Auto, Autobarn, BCF, Anaconda and others, with KFC soon to begin a build (STCA),in addition to an entirely new development on the land inclusive of a full line major supermarket offering and expansive shopping complex (STCA). This ensures the continued success and even further increased demand for recognisable brands such as Subway in the Centre long into the future.
With a fresh 10 year lease having recently been agreed to, this is a very rare chance to invest and forget, with a multi national tenant who maintains their own equipment on site, pays standard statutory outgoings in addition to rent, and meticulously maintains the cleanliness of the leased area. Further, the lease has provision for 2 further 10 year Option terms.
The property is part of a 3 lot Strata, with those costs payable by the lot owner as standard and available on discussion, however are considered already when determining the net return on offer, with those costs inclusive of common area cleaning, building insurance etc as standard.
The lot is allocated several parking spaces in the forecourt frontage.
This is an exciting opportunity owing to the significance of the tenant/brand, the tenure of the tenant, the highly desirable length of the renewed lease term and the price for which such an asset can be secured by serious investors.
Offers over $950,000 will be considered, which offers an attractive 4.5% net ROI, with compounding annual growth/increases. GST is not expected to apply.
Contact Colin Rowlands of Halliwell Property Agents for further information.