Knight Frank has the exclusive opportunity to offer for sale a fully leased retail premises located in the retail heart of Upper Burnie.
205 Mount Street, Upper Burnie, presents a modern standalone building constructed circa 2004. The building, located on a site totaling approximately 1,155 sqm, benefits from significant exposure to passing traffic along Mount Street, which is a key connector road linking the main residential suburbs of Burnie and its surrounds to the CBD and local highway network. A recent traffic report has noted that ‘Mount Street averaged 11,000 vehicles a day, with more than half heading south’.
The property has been home to a pharmacy since its construction in circa 2004 and is currently offered for sale subject to a lease to a partnership trading under the Alliance Pharmacy brand on a 5+5 year term commencing 31 May 2015. Current rental is $71,400 per annum plus GST and Outgoings, with a CPI review due on 31 May 2019.
205 Mount Street, Upper Burnie, provides a highly functional and high profile building zoned ‘local business’ within the Upper Burnie shopping precinct, presenting investors with the opportunity to acquire a modern, well presented standalone building that is fully leased and located in a prominent location. This asset has the following key attributes:
• High traffic location, averaging 11,000 vehicles a day
• Key connector road to the CBD
• Located in the centre of a well-regarded retail precinct servicing a wide residential area
• Close to supermarket, services and retail
• Concrete tilt up panel construction (c 2004)
• Approximately 364 sqm Gross Lettable Area (Retail)
• Approximately 1,155 sqm site, zoned ‘Local Business’
• 5+5 year term commencing 31 May 2015
• Current rental of $71,400 per annum plus GST and Outgoings
• Tenant pays all usual outgoings
• On-site parking for seven vehicles
