 Asset Class: | Retail |
 Price: | $ 1650000 |
 Net Yield: | 6.60 % |
Net Yield - including solar strategy: | % |
 Property Market Status: |
<span style="color:rgb(2, 8, 23);">This exceptional commercial property, strategically located in the thriving suburb of St Leonards, boasts a diversified tenant profile and a robust annual net income of approximately $1,168,904, making it a compelling investment opportunity in a sought-after market.</span><br><span style="color:rgb(2, 8, 23);">Situated on St Leonards Road, this property benefits from excellent accessibility and visibility, positioning it as a highly desirable location for various businesses. St Leonards is known for its vibrant local economy, with close proximity to essential amenities including retail shops, cafes, and public transport options. The area is well-serviced by major arterial roads, ensuring convenient access to Launceston’s central business district and beyond, enhancing both foot traffic and patronage.</span><br><span style="color:rgb(2, 8, 23);">The property encompasses a total Net Lettable Area (NLA) of 10,500 square metres, providing ample space for tenant operations. The land size is generous, featuring a well-maintained site with ample vehicle parking provisions. The property enjoys significant street exposure, ensuring excellent visibility and accessibility for clients and customers, further elevating its appeal to potential investors and tenants alike.</span><br><span style="color:rgb(2, 8, 23);">The property currently hosts a diverse array of tenants, including reputable businesses such as Australian Comfort Group Pty Ltd, Doppio Foods Pty Ltd, Taswide Transport Pty Ltd, Crown Forklifts, T&F Industrial Saw Services, and Transmo Transport Pty Ltd. The leases are structured to provide a mixture of net and gross rental agreements, with a Weighted Average Lease Expiry (WALE) of approximately 2.80 years. Notably, the tenancy schedule highlights a secure income stream from leases expiring between 2025 and 2030, enhancing the investment's stability and providing opportunities for future lease renegotiations.</span><br><span style="color:rgb(2, 8, 23);">With the potential for income growth through strategic lease renewals and modest enhancements to the existing facilities, this property presents a unique value-add opportunity that could substantially increase the overall investment return.</span><br><span style="color:rgb(2, 8, 23);">168-182 St Leonards Road is a prime commercial asset featuring a strong income profile, strategic location, and diverse tenant mix, making it a remarkable investment opportunity for discerning buyers seeking to capitalise on the vibrant St Leonards commercial market.</span>
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Is this property in a flood zone?
Is this lease a leaseback arrangement?
<span style="color:rgb(2, 8, 23);">The suburb of St Leonards is characterized by its vibrant local economy, which is conducive to various business operations. The Light Industrial zoning of the property under the Tasmanian Planning Scheme provides flexibility for a range of permissible uses, including manufacturing, processing, storage, and distribution. The zoning's provisions ensure that off-site impacts are minimal, allowing for a harmonious coexistence with surrounding businesses. This combination of location, accessibility, and zoning enhances the property’s desirability as a commercial investment, making it an attractive opportunity for discerning buyers seeking to establish or expand their operations in a thriving suburb.</span>
Additional Location Information File
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Property located at 168-182 St Leonards Road, St Leonards</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Total net income: $1,168,904 per annum</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Strong tenant lineup with solid rental history</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Long lease terms averaging 4-7 years remaining</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Australian Comfort Group: $357,915 net rent</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Doppio Foods: $103,273 gross rent</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Multiple properties with estimated market passing income</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Areas range from 87 sqm to 4,037 sqm</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Zoned: Community Facilities, enhancing development potential</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Significant additional income from vacant caretakers cottage</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Budgeted statutory outgoings: $73,115 per annum</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Estimated market net income approximates $1,005,989</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Close proximity to schools and major retail precincts</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Inspections by appointment only with sales representative</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Additional information available upon request from agents</span></p></li><li style="list-style-image:none;margin-inline-start:30px;"><p style="display:inline;"><span style="color:rgb(2, 8, 23);padding-left:0px;margin-inline-start:30px;font-weight:normal;font-style:normal;">Investment offers stability and favorable market conditions</span></p></li></ul>
