2A Merino Street Kings Meadows TAS 7249

Fully leased to the Tasmanian Government 2A Merino Street is an impressive warehousing complex and is suitable to all investors seeking a secure, low maintenance industrial asset located in an extremely tightly held industrial park less than 6km to the Launceston CBD.

- Long standing tenant occupied from 1999
- Rent paid quarterly in advance
- Large 1,620m2 building area split between two buildings (1,060m2 & 560m2)
- Land rich asset with 20% site coverage (7,777m2 land area)
- Compounding annual 3% increases (market at take-up of option)
- Renewed 4 + 4 year lease from May 2024
- Tenant pays rates, water and land tax
- $142,450pa net rental ($88 per m2 on blended building area)

An exceptional industrial asset located in a tried and tested pocket of Launceston, with future risk spread across two large and neat warehouses this property is as safe as the Tenant occupying it.

For further details contact Blake Shepherd or Joel Harwood.