Renewed 5 Year Lease to Salvo’s Stores

Burgess Rawson and Knight Frank TAS are delighted to offer to the market, Salvos, Devonport TAS for sale via Burgess Rawson’s portfolio auction in Melbourne on the 7th of December 2022.

+Renewed 5 year lease to November 2027 plus options through to 2037 to Salvo’s Stores.
+Landlord preferred net lease terms with Salvo’s paying all usual outgoings (Inclusive of Land Tax) as per lease.
+Attractive annual CPI increases
+Salvo’s are a 125 year old government-funded retailer with over 350 stores nationally and an aggressive growth strategy.
+High profile two level 1,199sqm* building, converted into three tenancies.
+Ground floor: Salvo’s store plus small retail store, level 1 leased to renowned ballet studio.
+Proven and established Devonport CBD location with Australia Post, Westpac, Flight Centre, Toyworld and Devonport’s two main pubs (Central and The Alex) plus Bottle-O bottleshop.
+Brand new 187 room Novotel Hotel recently completed within 400m*.
+Devonport: Largest North-West Coast City and is the major service centre, Port and Tourism link to Melbourne and mainland Australia.
+Commsec ranks Tasmania as Australia’s best performing state in key economic indicators***
+Estimated Net Rent: $101,936.45 pa * + GST (before owners outgoings).

To be sold by Investment Portfolio Auction
10:30am AEDT Wednesday 7th December 2022
Crown Casino, Melbourne