ASX-Listed Tenant – Office & Retail Outlet
31 Wenvoe Street, Devonport TAS
Secure 7 year lease to 2026 plus two (2) further five (5) year options to 2036.
Coventry Group Ltd (ASX: CYG), a market leading hardware, industrial supply and fluid hydraulics business with a market cap of $117.46 million**.
FY21 Sales up 18.2%.
Landlord friendly net lease, tenant responsible for council rates, land tax and landlord insurances according to the lease.
Guaranteed rental growth with annual fixed 3% rent increases.
Prime 2,555 site in the Devonport CBD.
First class 1,998sqm (approx.) building comprising statewide head offices and retail outlet.
Dual frontage to Wenvoe Street and Formby Road which is a main arterial road into Devonport CBD.
Surrounded by leading retailers and outlets, Beaurepairs, Shell and Caltex.
Devonport: Largest North West Coast city, major service centre and tourism link to Melbourne and major Tas tourism attractions.
Commsec ranks Tasmania as Australia best performing economy in key indicators***.
Net Rent: $163,315* pa + GST.
To be sold by Investment Portfolio Auction:
Wednesday 12 May 2021
Southbank, Crown Casino, Melbourne
2 other Nubco- Coventry Group Ltd freehold investments also available.
Contact sales team for more details.
**Coventry Group Ltd
*All areas and figures approx only. All boundaries are indicative only. All precaution has been taken to establish the accuracy of all information but does not constitute any representation by the Vendor or Agents.