Secure 8 Year Lease + Option to 2037 | Market Leading: Barbecues Galore

Secure 8 year lease to 2029 lease plus option through to 2037.
Barbecues Galore: Market Leading Barbecue, outdoor furniture and heating retailer founded in 1977 now with over 90 stores Australia wide.
Guaranteed rental growth through fixed annual 3.0% increases.
Tenant has occupied the site since circa 2004* and pays all usual statutory outgoings as per lease including Land Tax (single holding).
High Exposure, single level building upgraded during first half of 2022, in line with Barbecues Galore corporate fit out plus valuable rear access from Elizabeth Street.
Large building area of 1,125sqm* incorporating 876sqm* of retail merchandising floor and offices plus supporting stock storage and staff facilities.
Strategically situated with frontage to busy York Street a main arterial road in the Launceston CBD.
Adjoins a recently developed full line Woolworths Supermarket and surrounded by a host of leading national retailers including: Dan Murphy’s, Zambrero, Nissan, BP, Shell and Forty Winks.
City of Launceston: The value of total building approvals have surged by over 243% in the last 5 years to $343 million.
Launceston: The major population and commercial centre of northern Tasmania with a population catchment of over 110,000.
Net Income: $162,500 pa* + GST (before owner outgoings).

For Sale by Investment Portfolio Auction
10:30am (AEST) Wednesday 14th September 2022
Crown Casino – River Room