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Sold on 20 Nov 2024 for $680,000

149B/149C William Street
Devonport TAS 7310

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Property Details for 149b/149c William St, Devonport

Building Type
Commercial
Local Government
Devonport

Last Listing description (November 2024)

We are pleased to present to market this fantastic commercial investment opportunity at 149b & 149c William St. Both shops are home to two very popular and well-established local businesses on two separate titles. Both tenancies are in solid three-year leases and are prominent outlets in the vibrant local business strip know as the "Four Ways". The caf has operated from the same location for over 20 years and the newer Vietnamese restaurant enjoys a very strong following.

Both shops individually present as an affordable entry to commercial real estate or both together as a fantastic opportunity to acquire a solid investment under 1 million dollars. Based on the total annual rent both shops represent a yield of approximately 6% on the asking price. GST will not apply.

No strata title exists with these properties as they are two stand alone titles.

149b William St
Four Ways Caf
Annual nett rent: $21,474.48
Land size: 309m2 (approx..)
Building size: 204m2 (approx.)

149c William St
Viet Eat
Annual nett rent: $19,122.36
Land size: 154m2 (Approx.)
Buidling size: 94m2 (approx.)

Total annual nett rent: $40,596.84

Property History for 149b/149c William St, Devonport, TAS 7310

A timeline of how this property has performed in the market
Last Sold
$680,000
20 Nov 2024
  • 20 Nov 2024
    Sold for $680,000
  • 13 Nov 2024
    Listed for Sale $680,000

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About 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 7,681 properties. Over the last 5 years, Houses in Devonport have seen a 74.53% increase in median value, while Units have seen a 66.94% increase. As at 30 November 2024:

  • The median value for Houses in Devonport is $460,919 while the median value for Units is $388,396.
  • Houses have a median rent of $430 while Units have a median rent of $360.
There are currently 49 properties listed for sale, and 8 properties listed for rent in Devonport on OnTheHouse. According to CoreLogic's data, 291 properties were sold in the past 12 months in Devonport.

Suburb Insights for Devonport 7310

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Halliwell Property Agents Pty Ltd
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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.