2/3 Friend Street

Stony Rise TAS 7310

With nearly the entirety of a fresh 10 year lease renewal in place from March 2022, this is a very rare chance to 'set and forget', with a multi-national tenant who maintains their own equipment on site, pays standard statutory outgoings in addition to rent, and meticulously maintains the cleanliness of the leased area. Further, the lease has provision for 2 further 10-year Option terms.

The property is part of a 3 lot Strata, with those costs payable by the lot owner as standard and available to potential purchasers, with those calculated as part of the net return advertised, and include costs inclusive of common area cleaning and maintenance, building insurance etc as standard.

The lot is allocated several parking spaces in the forecourt frontage.

This is an exciting opportunity owing to the significance of the tenant/brand, the tenure of the tenant, the highly desirable length of the renewed lease term and the price for which such an asset can be secured by serious investors.

At a very attractive $899,000 listing price, a net return of just under 4.9% is on offer, with compounding fixed 4% annual increases through the balance of the lease. This is above the standard ROI for an asset/tenant/lease length combination of this type anywhere in Australia. GST is not expected to apply.

Interested parties should contact Colin Rowlands of Halliwell Property Agents for further information.