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Rethink Investing has successfully secured this prime dual-tenanted retail property for our client in Hobart.
Located on one of the city's busiest thoroughfares, the site features dual street frontage and is situated just 6km from the CBD. With a gross lettable area of approximately 3,878 sqm and ample off-street parking, it presents a significant investment opportunity in a designated high-growth corridor.
What makes this property stand out is that it is significantly under rented. The current net yield is 6.23%, while the market yield sits at 8.58%! This represents an upside of over seven figures!
Rethink Investing used our local contact to secure this off market. You really need a local approach to secure deals of this quality in the current market so if you need help, please do not hesitate to reach out to us direct.
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Purchasing Costs
Key Highlights
- Strong existing demand by both local and national tenants for this prime location
- Excellent development potential, with the zoning supportive of a great variety of uses, further supported by being part of a major growth corridor of Hobart.
- Tenant pays all outgoings. This includes recoverability of property management from the anchor tenant, representing immediate upside
- Large land holding under pinning long term capital growth
- Future capital growth upside potential by adjusting rent to market
- Great discount secured off market, providing an excellent return relative to an asset with such strong upside potential
Get in touch
If you’re interested in joining the lucrative world of commercial property, contact us now.
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