124 William StreetDevonport TAS 7310
Property Details for 124 William St, Devonport
Last Listing description (July 2018)
Knight Frank is excited to have instructions to offer for sale a modern and well located fast food restaurant located at 124 William Street, Devonport.
124 William Street Devonport presents a modern standalone building with drive through constructed circa 2012 comprising modern building services and high quality finishes. The building, located on a site in excess of 800 sqm benefits from significant exposure to passing traffic along William Street and is located within a well-established and popular convenience precinct comprising other national fast food chains and major fuel retailers. The property is fully leased to Zambrero Property Group Pty Ltd on a 10+ 5 year term commencing 12 May 2016.
Zambrero is a leading quick-service Mexican restaurant franchise established in Canberra in 2005. It has become a well-recognised brand operating in strip locations, shopping centres and drive through locations with over 160 stores nationally as well as stores in New Zealand, Thailand, Ireland and the United States.
- Central location, close to supermarkets, services and retail
- Located in the centre of a well-regarded fast food and convenience precinct
- Modern construction (2012) with depreciation benefits
- Long term lease to Zambrero expires May 2026 with option to May 2031
- Tenant pays all usual outgoings
- Annual rental increases at 4.00% p/a (next due May 2019)
- Current rental - $78,000 per annum + GST and Outgoings
- 8+ years remaining on initial lease term
The property is to be offered For Sale at $1,125,000
To inspect this property or receive additional information, please contact Nicholas Bond of Knight Frank.
Property History for 124 William St, Devonport, TAS 7310
- 16 May 2018Sold for $1,030,000
- 13 Mar 2018Listed for Sale $1,125,000
- 11 Jan 2016Listed for Rent $30,000 / year
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0About Devonport 7310
The size of Devonport is approximately 10.2 square kilometres. It has 15 parks covering nearly 13.3% of total area. The population of Devonport in 2011 was 14,009 people. By 2016 the population was 13,761 showing a population decline of 1.8% in the area during that time. The predominant age group in Devonport is 50-59 years. Households in Devonport are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Devonport work in a professional occupation. In 2011, 62.2% of the homes in Devonport were owner-occupied compared with 59.4% in 2016.
Devonport has 7,650 properties. Over the last 5 years, Houses in Devonport have seen a 79.38% increase in median value, while Units have seen a 75.20% increase. As at 30 September 2024:
- The median value for Houses in Devonport is $469,035 while the median value for Units is $393,654.
- Houses have a median rent of $420 while Units have a median rent of $350.
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