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Renewed 5 Year Lease to Global Auto Giant Subsidiary

3/6 Innes Street , Launceston TAS

Property Highlights

Fixed 3% Annual Rent Increases
Subsidiary of US$22+ Billion Auto Giant
Opposite Launceston Plaza - Coles/Kmart
Register to Bid

Description

Burgess Rawson in conjunction with Shepherd & Heap Estate Agents are pleased to offer to the market, Unit 3, 6 Innes Street, Launceston TAS for sale via our Investment Portfolio Auction 162.

This opportunity has the following key investment highlights:
+ One of Tasmania’s leading Repco stores
+ Renewed 5 year lease plus 5 year option through 2033
+ Tenant pays all outgoings including Land Tax & Building Insurance
+ Fixed 3% increases
+ Genuine Parts Co (NYSE:GPC): US$22+billion Market Cap, US $22 billion annual sales across 17 countries and 10,545 locations
+ Immaculate modern 801sqm building
+ Important 37 car spaces on site including 3 on title
+ Super location opposite Launceston Plaza (Coles, Kmart) & Chemist Warehouse, next to Mitre 10 and close to $250m+ UTAS development
+ Net Income: $225,000 (from 1 August 2023)

For Sale by Investment Portfolio Auction
10:30am AEST Wednesday 2 August 2023
Crown Casino, Melbourne

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Automotive
Land Size
837 SQM
Building Area
801 SQM

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