97-103 Rooke Street,
Devonport, TAS 7310

Investment opportunities in Devonport's Rooke Street Mall as strong as this rarely become available, and Halliwell Property Agents is proud to exclusively bring this property to the market.

Comprising of three tenancies, this property is situated in the heart of the Mall and on the door step of Devonport's multi-million dollar Living City project. Surrounded by a vibrant retail strip with near-zero vacancy, this property is sure to attract strong attention.

The tenants are long-term occupants and all have excellent lease terms, with two of the tenants just having signed new lease extensions (3 years each). The anchor tenant is the national retailer Just Jeans, whilst the other two tenancies are popular, well-known local operators.

Features include:

- Three tenants on stratum title (Just Jeans, Pub Rock Diner (first floor, formerly Tapas Lounge Bar), and Noodles & Rice Devonport (Cafe/Restaurant)
- National brand as anchor, having been in situ for a significant number of years
- Excellent lease terms
- Just Jeans and PRD long term tenants, with Noodles & Rice last year having purchased an existing business at the location and undertaking fitout works
- Great location in Devonport's Mall, only metres from the new hotel and waterfront development, in the Living City precinct
- All outgoings (council rates, land tax and water accounts) paid by tenants
- Two shops ground floor, popular lounge bar on first floor
- On-going concern - GST is not expected to apply
- Solid brick and concrete construction inc. concrete floor on top level
- Walk-thru access to Rooke Lane carpark at rear of ground floor tenancy
- Public Carpark to the immediate rear
- $90,000 refurbishment of upstairs bar late 2018
- Building painted late 2018

Combined net rent in excess of $114,000 p.a

This is an outstanding opportunity for an investor to create or add to their portfolio, in a highly desirable market.

Listing price of $1,750,000 offers an excellent 6.5% net yield; one that is not often found in such a location with 3 tenants on 3 Titles.

For all enquiries or for further information, please contact Colin Rowlands at Halliwell Property Agents.