190 Invermay Road, LAUNCESTON TAS 7250
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- Retail, Industrial / Warehouse
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- 5 Aug 2016
Invermay Road: Multi-tenancy investment - around 8.0% - 8.5% return
Incorporating two land titles and an expansive land area of approx. 2,266 sqm, this Invermay property has all the features expected of a comfortable investment vehicle.
Supporting three retail tenancies and five budget warehouses, the property, addressed as 190 Invermay Road, has an high exposure frontage to one of Launceston’s busiest thorough-fares and is valuably enhanced by plentiful, on-site parking.
The three retail tenancies, each with a floor area of some 100 sqm, are well established at the site and enjoy customer parking at the front doors.
The five warehouses range from 160 sqm to 386 sqm and are each self contained with own facilities, roller-door and PA door accesses.
The property has a solid history of sound rental income derived from both long-term and casual tenants.
One of the warehouses is currently vacant, but is offered to the leasing market at budget rent, and it is sure to be re-leased in time.
190 Invermay Road currently produces a gross rental income of approximately $121,060 per annum, however based on historic income figures, when the vacant warehouse is leased, the estimated gross income will likely be approximately $140,000.
After outgoings, the estimated, fully leased net income should equate to approximately $120,000 per annum.
Definitely one to consider for your super-fund.
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
190 Invermay Road LAUNCESTON