Knight Frank and JLL are pleased to offer for sale 89 Cambridge Park Drive, Cambridge Park, Tasmania for Sale by Expressions of Interest.
The property comprises a high quality, substantial commercial complex with a single level 'A' grade office building (approx. 5,825 sqm) constructed circa 2008 plus a separate warehouse/store (approx. 1051 sqm) and approximately 163 car parking bays. The property has a strong lease covenant with a 16 year lease from April 2008 to Tasmanian Government Business Enterprise (GBE), the Hydro Electric Corporation.
The property is strategically located with a large, level, high profile site within the rapidly developing area of Cambridge, approximately 10 minutes east of Hobart's CBD, adjacent to Hobart's only homemaker centre and within proximity to Hobart's airport.
Key Investment Highlights Include:
- Modern 'A' grade office building and store with a NABERS rating of 4 stars
- Fully leased to Tasmanian Government Business Enterprise (GBE), the Hydro Electric Corporation (Hydro Tasmania)
- Secure cash flow with a Current Net Income of $2,852,119 pa (approx)
- WALE of 5.5 years (approx)
- Situated in a rapidly expanding commercial precinct within Hobart's eastern growth corridor with easy access
- Strong and growing Tasmanian economy as it has transitioned towards higher order service industries and premium products with global recognition, which is having a significant positive impact on its property market.
89 Cambridge Park Drive, Cambridge, Tasmania is being offered for sale in conjunction with 7 Laffer Drive, Bedford Park, South Australia. The assets may be acquired together or individually. 7 Laffer Drive is leased to Westpac with a new 7 year lease expiring in 2025. Total portfolio income is approximately $4.6 million with a portfolio WALE of approximately 6 years.
Please contact the agents for further information.
