'Reece House' is a multi-level office building, comprising basement carpark, ground floor retail and 5 upper levels of office accommodation.
The building was developed in 1975 and sections of the premises have been progressively refurbished over the past 10 years.
The property has a net lettable area of approximately 3,629 square metres, based on the current configuration, and 20 basement carparks.
The property is located on the north-west side of Mount and Cattley Streets in Burnie, adjacent to the main CBD retail area.
Burnie is a major commercial centre on the North West coast of Tasmania, with a population of over 20,000 people in the greater Burnie area.
The building is offered for sale 75% occupied,with State Goverment and a national tenant. The building has a 2.5 star NABERS Energy rating
The current gross passing income is approximately $787,000 per annum and after deducting outgoings, a net income of approximately $440,000 per annum, is produced.
Through leasing the vacant areas, there is an opportunity to substantially increase the return.
Call Nicholas Bond of Knight Frank for further information.
