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76-84 Gleadow Street
Invermay TAS 7248
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Sold on 27 Mar 2024

76-84 Gleadow Street Invermay TAS 7248

  • Factory, Warehouse & Industrial
  • 2,814 m²
  • Sold

8 Year Lease 100% Guaranteed by ASX Listed Harvey Norman

    Burgess Rawson in conjunction with Knight Frank Tasmania are pleased to offer to market the Harvey Norman Distribution Centre located at 76-84 Gleadow Street (corner Montague Street), Invermay (Launceston) TAS for sale via National Investment Portfolio Auction 167.

    This investment has the following key highlights:

    + Eight (8) year, Two (2) month lease to June 2028 plus options to 2043.
    + Harvey Norman: multi-national ASX listed retail giant with current market cap of $5.93 billion.
    + Harvey Norman's major distribution centre in northern Tasmania.
    + Recently expanded 2,814sqm* majority high clearance warehouse with 3 container height roller doors plus canopy.
    + Depreciation benefits, with 30% of year 1 rent potentially tax free. (1)
    + Important distribution and click & collect centre situated only 850 metres* from Harvey Norman retail store.
    + Significant 5,843sqm* corner freehold industrial landholding with 153m* combined frontage.
    + Prime site for distribution, corner position, 3 seperate truck access points and metres from East Tamar Highway.
    + Desirable position amongst Bunnings Warehouse, Officeworks, JB H-FI, The Good Guys, RSEA and Boral.
    + Annual CPI rent reviews with important cap and collar at market rent review.
    + Tasmania: booming economy, #1 for equipment investment and #2 for unemployment across the country. (2)
    + Launceston: northern capital of Tasmania with 230,000+ total catchment.
    + Net Income: $329,696pa* + GST (3)

    For Sale by Investment Portfolio Auction
    10:30am AEDT Wednesday 27 March 2024
    Crown Casino, Melbourne

    Bidder registration required, register here.

    Please contact the exclusively appointed sales team for more information.

    *Approx
    1. J Mathew Advisory
    2. CommSec State of States Report January 2024
    3. Forecast rent as at 1 July 2024 based upon assumed 3.3% CPI increase

    AUCTION

    Auction date and time27/03/2024 10:30
    Auction locationCrown Casino - River Room - Melbourne
    Burgess Rawson VIC Pty Ltd
    Burgess Rawson VIC Pty Ltd
    Level 20, 150 Lonsdale Street
    Melbourne, VIC 3000

    Property Highlights

    Date Sold27 Mar 2024
    Floor Area2,814 m²
    Land Area5,843 m²
    ParkingAsk Agent
    Property ID2019083252
    Category
    Last updated  28 Mar 2024
    Map for 76-84 Gleadow Street Invermay TAS 7248
    Burgess Rawson VIC Pty Ltd
    Burgess Rawson VIC Pty Ltd
    Level 20, 150 Lonsdale Street
    Melbourne, VIC 3000

    Property Highlights

    Date Sold27 Mar 2024
    Floor Area2,814 m²
    Land Area5,843 m²
    ParkingAsk Agent
    Property ID2019083252
    Category
    Last updated  28 Mar 2024

    Co-Agents

    Beau Coulter
    Burgess Rawson VIC Pty Ltd
    Call
    0413 839 898
    Matthew Wright
    Burgess Rawson VIC Pty Ltd
    Call
    0458 290 588

    More about 76-84 Gleadow Street Invermay TAS 7248

    76-84 Gleadow Street Invermay TAS 7248 is categorized as Factory, Warehouse & Industrial Property. It has a floor area of 2,814 m² and a land area of 5,843 m². The listing ID for this property is 2019083252.

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