5,038sqm Trophy Auto Dealership Freehold Investment | Dominant Toyota Dealership & Multi Brand Service Centre

Burgess Rawson in conjunction with Knight Frank Devonport are pleased to offer to the market the fully leased Dominant Toyota Dealership and Multi Brand Service Centre investment located at 37-41 Best Street, Devonport for sale via Portfolio Auction Tuesday 14 May 2024 at Crown Casino, Melbourne.

Key Investment highlights include:

+ Ten (10) year lease to 2030 plus two (2) further ten (10) year options to 2050.
+ Multi-faceted operation with dominant Toyota Dealership and Isuzu UTE Sales plus service and VW authorised service outlet ensuring excellent spread of income.
+ Toyota: world leading major Japanese owned brand which operates over 67 manufacturing companies, markets vehicles in over 170+ countries and regions and employs over 370,000 people worldwide (1)
+Toyota: Australia and Tasmania’s top selling car brand in 2023* with a presence in the Devonport area dating back to 1969*
+ Tenant part of ‘Tony White Group’ a thriving national market leader with 59* dealerships along the East Coast of Australia employing 2,500 staff and selling over 73,980* vehicles in 2022.
+ The same tenant operates the nearest Toyota Dealerships in Launceston (100km*) and Burnie (51.5km*) plus strong presence across numerous brands and locations throughout Tasmania.
+ Landlord favourable, attractive net lease terms with the tenant responsible for council rates, water rates and single holding land tax.
+ Strong and certain income growth with fixed annual, compounding 3% increases.
+ Modern C2009 built dealership of 1,863*sqm, incorporating showroom, administration accommodation, service centre, workshop and major display yard.
+ Significant 5,038sqm* ‘Central Business Zoned’ CBD corner landholding providing combined frontage of 133 metres* to Fenton and Best Street – Devonport’s major CBD thoroughfare.
+ Strategically located within the growing Devonport CBD zone, a short distance to Woolworths, Coles & K-Mart (250m*), The Rooke Street Mall (200m*) and the brand new Novotel Hotel (200m).
+ Devonport: largest North-West Coast City, major service centre, port and daily/tourism link to Melbourne and 70,000 people residing within 35kms*
+ Minimal management investment
+ Estimated Net Income: $449,661 pa* + GST

For Sale by Portfolio Auction, Crown Casino, Melbourne
From 10:30am (AEST) Tuesday 14 May 2024
For further information please contact the agents directly

Bidder registration required, register here.

*Approximately
(1) Toyota
(2) GapMaps
(4) Forecast.id
(5) Devonport City Council