86 Hobart Road & 4 Riseley Street Kings Meadows TAS 7249

Elders Commercial are excited to present a premium Tasmanian investment opportunity. The property is for sale via Expressions of Interest closing 4 pm on the 26 February 2025.

Key property highlights include:

Early option extension taken by Slade Pharmacy and Kings Meadows Medical taking the unexpired lease terms through until 2032 & 2033.
Slade Pharmacy: has around 70 stores nationally, with further expansion on the horizon.
Kings Meadows Medical: provider of high-quality health services since 2006. In 2019 a partnership was formed with Newstead Medical, now providing many staff across both sites.
Salt Hair & Beauty: Operational in the property since 2018. A well-respected local business
Diversified income stream across three tenancies with 88%* of the income secured by essential service operators.
Significant near corner landholding with both titles combined providing an area of 1,937 sqm*.
Important 25* on-title carparks future proofing the asset and allowing for further development (STCA)
Prime location on the corner of Hobart Road and Riseley Street with over 30,000* vehicle movements per day.
Kings Meadow is Launceston's most prominent commercial location outside of the CBD.
The property is located within 100m of Launceston's largest shopping centre.
Net Lease structure with the tenants paying all statutory outgoings.
Weighted average lease expiry of 7* years.
Net Income $179,134*.

Please contact Fletcher Seymour or David Webster for more information or to arrange an inspection.

*Approx