Rare 10 year Triple Net Lease to ASX Listed Endeavour Group
3/124 Davey Street, Hobart TAS
Property Highlights
Description
Burgess Rawson in conjunction with Knight Frank are pleased to offer to the market the BWS in Hobart TAS for sale via our Investment Auction Portfolio 162.
The property has the following investment highlights:
+ Secure Ten (10) year lease to 2031 plus options to 2051.
+ Rare triple net lease structure with the tenant paying all outgoings inclusive of land tax, rates, water, structural maintenance and insurance.
+Endeavour Group (ASX: EDV): Australia’s largest hotelier and liquor retailer, with 339 ALH hotels, 1,761 Dan Murphy’s/BWS stores and a market cap of $10.8 billion.
+Tenant has been trading on-site for over 26+ years and is one of Tasmania’s leading BWS stores.
+High exposure 934sqm* drive-thru site on main arterial road with waiting bays and covered awning.
+ Strategic home-bound location with 31,272 vehicles passing daily on Davey Street and within close proximity of the Hobart CBD, Sandy Bay and Battery Point. **
+ Hobart: Tasmania’s administrative capital with a population of 250,000 and 18.8% median house price growth in the last 12 months***
+Tasmania: Ranked #1 and leading the nation with Australia’s strongest economy. ****
+A minimal management, essential service investment.
+Net Income $393,298pa + GST (as at August 2023)
To be sold by Investment Portfolio Auction:
10:30am AEST Wednesday 2nd August 2023
Crown Casino, Melbourne VIC
* Approx
** GapMaps
*** Realestate.com.au
**** Commsec State of States Report
Property Details