Halliwell Property Agents is delighted to present this fantastic investment opportunity to the commercial market.
The property consists of modern professional office space over two stories in the CBD of Devonport. The property boasts several off-street parking spaces which is a valuable commodity for commercial property in the CBD of Devonport. The site is high profile and enjoys good exposure to traffic and has excellent signage at the front of the property making it attractive to a range of tenancies. The property is low maintenance and with excellent tenants in place.
The property is currently occupied by two strong government linked tenancies. The total nett passing rent for the site is currently $111,138.36 however both tenancies are due for rental increases to CPI in July which will increase the nett passing rent to approx.. $114,500.
Tenancy 1 is two years into a five-year lease expiring in June 2027 with an option of 5 years beyond that date.
Tenancy 2 is three years into a five-year lease expiring in July 2026 with two further 5-year options beyond that date.
All rents are plus GST and all outgoings are paid by the tenancies.
Rates $12,593 p.a.
Water $3,800 p.a.
Land Tax $1,196.10
69 Best St, Devonport is a fantastic investment opportunity for the right buyer to add to their portfolio as it is low-maintenance and securely leased. For more information including lease information please contact Alan Halliwell.
