Launceston<br>• Situated at the head of the picturesque Tamar Valley, Launceston is the second largest city in Tasmania and is the major service centre for business, social and sporting activity in the Northern half of the State.<br>• The greater urban Launceston area had a population of approximately 110,000. It's population catchment increases to some 150,000 with surrounding towns and rural regions included.<br>• The city is widely recognised as a main gateway to Tasmania being just under an hours flight from Melbourne, through Launceston Airport passenger movements pre-covid reaching a record 1.39 million last financial year and expecting to increase to 1.9 million by 2028<br>• The city is home to a campus of the University of Tasmania including the world renowned Australian Maritime College and to other major businesses including Lion Nathan’s Boag’s Brewery. It is also the gateway to the Tamar Valley cool climate wine region which has become important to the region’s economy, now producing over 60% of the state's wines, as is the broader primary industries sector.<br>• Launceston and the northern region is diverse with eco tourism, world standard mountain bike trails, international standard golf courses and other attractions drawing record visitation numbers.<br>• Development in the city and region is at record levels boosted more recently with the largest ever single infrastructure investment in Launceston's history, the $250m relocation and redevelopment of the University's northern campus to the inner city Inveresk precinct now underway<br>

Specsavers is a multinational optical and hearing care company founded in 1984 in the UK. It operates in multiple countries, including Australia, New Zealand, and the UK, offering eye care services, prescription glasses, contact lenses, and hearing aids. The company operates under a joint venture partnership model, where individual store owners co-own their locations with Specsavers, benefiting from the brand’s infrastructure and marketing.<br><br>Do They Make a Good Tenant?<br><br>1. Financial Stability <br>• Specsavers is a well-established brand with a strong financial position.<br>• The business model ensures stability, as individual stores are supported by the broader Specsavers network.<br>• The optical industry is essential and largely recession-proof, as eye care remains a necessity.<br>2. Lease Commitment &amp; Terms <br>• Specsavers typically signs long-term leases due to their investment in fit-outs and medical equipment.<br>• They prefer high-foot-traffic locations (shopping centres, main streets), often securing prime retail spaces.<br>3. Industry &amp; Market Position <br>• Leading optical retailer in multiple markets, competing with independent optometrists and chains.<br>• Strong customer loyalty due to affordability, bulk-billing, and regular marketing campaigns.<br>4. Business Operations &amp; Suitability <br>• Stores require specialized fit-outs, making them less likely to relocate frequently.<br>• Services generate consistent foot traffic, benefiting surrounding tenants in retail hubs.<br>• Their healthcare component adds resilience to economic downturns.<br>5. Tenant Track Record <br>• Generally regarded as a stable, reliable tenant.<br>• Rarely face financial distress due to the essential nature of their services.<br>• Often seek renewal options to maintain established customer bases.<br>

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