Halliwell Property Agents are pleased to offer this outstanding Devonport CBD investment opportunity to the market. Positioned right in the heart of the multi-million dollar 'Living City' precinct, the property is directly opposite the new CBD hotel and waterfront precinct currently under construction, and only metres from the Rooke Street Mall.
Approx. 350sqm building on a dual-Title of approx. 380sqm, the building is in great condition and comprises large open-plan retail, storage area, staff facilities, bathroom etc.
A strong tenancy is in place with the property occupied by a popular, long-established newsagency, sold to new operators in recent years. The current tenants have a strong presence both locally and to a wide online audience, adapting their business model to include the sale of many lines that compliment traditional newsagency offerings, including lotto.
With it's high exposure location and premium Best Street address, the tenancy is expected to further benefit significantly from the hotel immediately opposite once construction is completed.
Listing price is $850,000 representing an approx. 7% net yield to purchaser, with tenant paying all standard outgoings in addition to rent. This is an excellent return on investment for a CBD/Living City precinct property, with the opportunity not expected to last long!
For further information or to schedule an inspection, contact the exclusive listing agent Colin Rowlands, of Halliwell Property Agents.
