Investment opportunities in Devonport's Rooke St Mall as strong as this rarely become available, and Halliwell Property Agents is proud to exclusively bring this opportunity to the market.
Comprising of three tenancies, this property is situated in the heart of the Mall and on the door step of Devonport's multi-million dollar Living City project. Surrounded by a vibrant retail strip with zero vacancy, this property is sure to attract strong attention.
The tenants are generally long-term occupants and all have excellent lease terms. The anchor tenant is the national retailer Just Jeans, whilst the other two tenancies are popular, well-known local operators.
Features include:
- Three tenants on stratum title (Just Jeans, Pub Rock Diner (formerly Tapas Lounge Bar), and Western Rasoi (Cafe)
- National brand as anchor
- Excellent lease terms
- Just Jeans and PRD long term tenants, with Western Rasoi a recently purchased business
- Great location in Devonport's Mall
- All outgoings paid by tenants
- Two shops ground floor, popular lounge bar on first floor
- In the Living City project precinct
- On-going concern - GST will not apply
- Solid brick and cement construction inc. cement floor on top level
- Walk-thru access to Rooke Lane at rear of ground floor tenancy
- Public Carpark to the immediate rear
- $90,000 refurbishment of upstairs bar late 2018
- Building painted late 2018
Net rent from combined tenancies over $108,000 p.a
This is an outstanding opportunity for an investor to create or add to their portfolio.
Listing price of $1,300,000 offers an excellent 8.3% net yield; one that is not often found in such a location.
All enquiries or for further information, please contact Colin Rowlands at Halliwell Property Agents.
