Renewed 7 Year Lease to ASX-Listed Metcash | Rare Entry Level Mitre 10 Investment
42 Franklin Street, Swansea TAS
Property Highlights
Description
Burgess Rawson is pleased to offer to the market Mitre 10, 42 Franklin Street (Tasman Highway), Swansea TAS for sale via our Investment Portfolio Auction 168.
This investment has the following key highlights:
+ Renewed Seven (7) year lease to 2031 plus options to 2041.
+ Metcash (ASX:MTS): leading wholesale distribution company with a market cap of $4.24 billion. (1)
+ Mitre 10: Australia’s largest independent hardware retailer with 300 stores across AUS. (2)
+ Clennett’s Mitre 10: trusted brand with 6 strategic locations across Tasmania. (3)
+ Investor preferred net lease terms with tenant paying all usual outgoings including land tax.
+ Fixed 3% annual rent increases ensuring growth.
+ Important Mitre 10 store with large trade catchment incorporating retail, trade, colour and garden centres.
+ Strategic 1,208sqm* freehold highway site with dual street frontage and exposure.
+ Swansea: heart of Tasmania’s booming east coast, and gateway to famous Freycinet tourism mecca.
+ Positioned along famous east coast drive, with tourism up 16%, contributing $120+ million annually to the local economy. (4)
+ Net Income: $47,000 pa* + GST
For Sale by Investment Portfolio Auction
10:30am AEST Tuesday 14 May 2024
River Room, Crown Casino, Melbourne
* Approx
1. Metcash
2. Mitre 10
3. Clennetts Mitre 10
4. East Coast Tasmania
Property Details
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