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Solid Brisbane Street Investment

191 Brisbane Street, Launceston
Offers invited over $700,000 For Sale
  • 360 sq metres

Description

Expressions of Interest – Offers invited over $700,000 – closing date Wednesday 18th December 2019. Purchasers must submit their best offer by this date for consideration by the vendor.

191 Brisbane Street Launceston is an exciting proposition for the passive investor, developer or future owner occupier. Currently fully tenanted with secure long-term ground floor tenants, the property is returning a net income of $44,800 plus GST. Future upside could be achieved by negotiating a long-term lease upstairs (currently month to month) and leasing the secure storage space at the rear.

Multi tenanted properties like this in the CBD are becoming increasingly hard to find, especially at this price point. This property presents very well, with renovation works conducted in the recent years. If you are looking for a long-term investment in the Launceston CBD, this one ticks all the boxes!

Features include:

-Fully tenanted investment, secure ground floor leases
-Upstairs tenancy month to month, potential for future redevelopment
-Total net rental of $44,800 plus GST
-Prominent high traffic position on Brisbane Street
-Building: 370m2 approx.
-Land: 360m2 approx.
-Zoning ‘Urban Mixed Use’ (15.0)
-Secure parking / storage behind roller door (remote opening)
-Reverse cycle air conditioning
-Well-presented commercial property maintained to a high standard

Outgoings: (previous financial year)

Land Tax: TBA
Council Rates: TBA
TasWater: TBA

To learn more about this property, contact Andy at Tucker & Howell.