62-66 Rooke Street Devonport TAS 7310

Outstanding dual income Mall retail property offering secure leases to long term tenants, located less than 50m to the $250m Devonport Living City redevelopment (under construction).

Immense future income upside with rent below market at only $158/m2 net on the 700m2 retail area.

- Rivers Retail Pty Ltd: Fully owned subsidiary of Noni B group (ASX: NBL - Marked Cap of $254m) - one of Australia's largest women's fashion retailers with approx 1,350 stores nationally and sales of approximately $1 billion per year
- Renewed 5 year lease to Rivers Retail Pty Ltd with Option to 2028 550m2 tenancy
- Renewed 3 year lease to Lemon Tree Chinese Massage with Options to 2028 145m2 tenancy with 5 outlets in Northern Tasmania
- Convenient rear access opposite Cinema and McDonalds
- Ability to convert to one large retail premises with gross building area in the order of 730m2 plus basement storage.
- Invaluable Right of Way for stock delivery off Best Street

Net rental $111,540p.a (assuming 2.3% CPI increase September 2019)

For further details contact Blake Shepherd