268-270 Invermay Road Mowbray TAS 7248

Sandwiched between Coles and Woolworths on the Mowbray retail shopping strip 268-270 Invermay Road offers buyers strong cash flow and risk aversion with income spread across 6 tenancies. Alternatively, there is clear development upside with a future strata subdivision (s.t.c.a) to create smaller, individual tenancy titles for resale and profit taking.

- Sizable 1,601m2 land area with impressive 42m2 frontage
- Side right of way providing rear carpark access (18 spaces in total)
- Mostly long term occupants, several 10 years plus
- Combination of fixed 3% and CPI increases
- Only 8 minutes from Launceston CBD
- Less than 500m from $43.6million Northern Suburbs Community Recreation Hub (due for completion late 2025)
- Combined net income $172,748pa excl. GST

Under the current ownership for the past 19 years, the property has a proven track record and is sure to continue to perform for future investors or developers alike.

For further details contact Blake Shepherd or Joel Harwood.