42 Franklin Street
Swansea TAS 7190
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Freehold investment opportunity, leased to Clennett’s Mitre 10 (majority owned by Metcash ASX:MTS)
Elders Commercial is pleased to present for sale this attractive investment opportunity, leased to Clennett’s Mitre 10. This property is strategically located on the main arterial roadway connecting Hobart to Launceston via the East Coast.Key features:
• Leased to Clennett’s Mitre 10 (majority owned by Metcash ASX:MTS), one of Australia’s leading wholesale distribution companies
• Clennett’s Mitre 10 are a trusted brand with 7 strategic locations across Tasmania. The subject property, services a large trade catchment incorporating retail, trade, paint and a garden centre.
• Investor favoured net lease terms, with tenant responsible for all statutory outgoings, plus building insurance.
• Fixed 3% rental increases guaranteeing income growth, with lease through to Sept 26, plus options
• Ideally located within in the heart of the Swansea retail centre, with dual frontage to both Franklin Street and Maria Street, directly opposite IGA and near Swansea Primary School.
• Zoned ‘Local Business’ under the Glamorgan Spring Bay Local Provisions Schedule.
• The landholding has an approximate total site area of 1,208sqm*, with a building area of 272sqm*.
• Net income: $46,440 * pa + GST (as at Sept 2024).
For Sale by Expressions of Interest closing Thursday 12th September 2024 at 4pm AEST.
For more information, please contact George Burbury or Mia Lilley.
*Approximately
Features
General Features
- Land Area: 1,208sqm
- Commercial Type: Retail
- Building Area: 272sqm
- Zoning: Local Business
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