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A-Grade Investment with circa 6% return

67-75 Paterson Street, Launceston
Offers invited over $320,000 For Sale
  • 3 Car spaces
  • 113 sq metres

Description

EXA house is a three storey heritage building located on Paterson Street, Launceston that was refurbished by ARTAS Architects in 2015. The former home of the Examiner newspaper, who had occupied the building for over 160 years, was redeveloped to include a redesign of the sites main entrance and a new lift to service the three floors.

Due to the historic overlay the façade of the original building and the extension that was added in 1888 were conserved. The three floors of commercial space inside were divided to allow for new business tenants of differing sizes. The history of the building is referenced in the old newsprint wallpaper that lines the public spaces. The car parking space was also repurposed to include a ‘pop up’ café and the buildings new main entrance.

The property is strata titled, Tucker & Howell are pleased to be appointed with the sale of Lot 5, 67-75 Paterson Street, Launceston via Expressions of Interest (no closing date).

Lot 5 is being sold with existing lease in place to Tamar Wealth Advisors – if you are looking to start investing in commercial property or add to an existing portfolio, this is an opportunity you should not walk past.

Offers are invited over $320,000

-Annual net rent approx. $20,793 (circa 6% return)
-3 year term with 1x 3 year option
-113m2 approx.
-Central location 100m from the Brisbane St Mall
-Impressive A-Grade spec amenities
-Elevator access to all floors
-Blue Ocean Gigabit NBN (one of few connections in Launceston)
-Air conditioning / heat
-DDA compliant facilities
-Three car parking spaces allocated (added to title on settlement)

Outgoings: (estimates based on previous financial year)

Land Tax: $713.42
Council Rates: $2,704.88
TasWater: $1,223.61
Body Corporate: $5,313.36

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