345 Elizabeth Street North Hobart TAS 7000

Burgess Rawson in conjunction with Elders Tasmania are pleased to offer to the market the trophy Nando's investment located at 345 Elizabeth Street, North Hobart for sale by Private Treaty.

Key Investment highlights include:

+ Long 15 year net lease to Nando's through to 2032 with further options to 2042 plus additional income streams from two (2) residential apartments.
+ Nando's: Global fast-food giant, established in South Africa, now with over 1,150 locations in 35 countries and growing. (1)
+ Investor preferred, Nando's net lease structure paying 50% of all outgoings including council rates, water and Land tax
+ Strong and certain income growth with fixed annual, compounding 3% increases.
+ Prized 776 sqm* corner art deco building boasting a ground floor restaurant to Nando's corporate layout and design.
+ Diversified investment with supplementary income from two fully-leased first floor apartments with a total of 379sqm* lettable area.
+ Supported by complementary food and beverage operators as well as the State Cinema, NAB, Commonwealth Bank, Subway and Australia Post.
+ Elizabeth Street: Key entertainment and dining precinct less than 2km from CBD with Hobart's most intensive concentration of restaurants.
+ City of Hobart: Robust and steady economy worth $8.3 Billion in gross regional product. (2)
+ Tasmania: Booming retail industry seeing a 9% increase against the decade average, retail spending for Q2 2024 totalling $1.97 Billion. (3)
+ Esitmated Net Income: $203,429 pa* + GST

For Sale by Private Treaty.

*Approx
(1) Nandos
(2) City of Hobart Annual Report
(3) CommSec 21/4/2024