126 Best Street Devonport TAS 7310

Located in Devonport's Fourways Shopping Precinct along Devonport's busy Best Street, Halliwell Property Agents are excited to bring the 'Lauriston Arcade' to the sale market, offering an outstanding 7.4% return at list price.

The property is comprised of a walk-through arcade connecting Best Street and the major Fourways Council carpark to the rear, six lease areas (divided across the three tenancies) across two floors (two-storey western side, single-storey eastern side), and common amenities area for tenants.

Three tenancies in place with great tenure, including:
- St John Ambulance Australia (Office, Retail & Training Facility)
- Tasmanian Government (Office of The Honourable Mike Gaffney MLC)
- Muscle-Gen Supplements (Retail)

Leased across three tenancies, the site produces a net income of approx. $68,522 p.a.

NOTE: St Johns Ambulance are vacating in December 2024. This will significantly impact the total income of the property, until a new tenancy is found.

Details include:
- Constructed in 1977, with a building size of approx. 599sqm on a Title of approx. 466sqm.
- Versatile 'Central Business' zoning
- New roof recently installed to 50% of property, eliminating need for further works for substantial number of years into future
- Solid brick construction, aluminium windows and colorbond/GI roof
- Excellent main road position; appealing location
- Directly connected to major carpark
- 6 lease areas if required in future if required, creating potential for further increased returns
- Well presented ground floor tenancy areas

Contact the listing Agent, Alan Halliwell, with all enquiries or to schedule an inspection.