8 Year Lease 100% Guaranteed by ASX Listed Harvey Norman

76-84 Gleadow Street , Invermay TAS

Property Highlights

Distribution and click & collect centre
Recently expanded 2,814sqm* warehouse
5,843sqm* freehold site, 153m* frontage
Register to Bid

Description

Burgess Rawson in conjunction with Knight Frank Tasmania are pleased to offer to market the Harvey Norman Distribution Centre located at 76-84 Gleadow Street (corner Montague Street), Invermay (Launceston) TAS for sale via National Investment Portfolio Auction 167.

This investment has the following key highlights:

+ Eight (8) year, Two (2) month lease to June 2028 plus options to 2043.
+ Harvey Norman: multi-national ASX listed retail giant with current market cap of $5.93 billion.
+ Harvey Norman’s major distribution centre in northern Tasmania.
+ Recently expanded 2,814sqm* majority high clearance warehouse with 3 container height roller doors plus canopy.
+ Depreciation benefits, with 30% of year 1 rent potentially tax free. (1)
+ Important distribution and click & collect centre situated only 850 metres* from Harvey Norman retail store.
+ Significant 5,843sqm* corner freehold industrial landholding with 153m* combined frontage.
+ Prime site for distribution, corner position, 3 seperate truck access points and metres from East Tamar Highway.
+ Desirable position amongst Bunnings Warehouse, Officeworks, JB H-FI, The Good Guys, RSEA and Boral.
+ Annual CPI rent reviews with important cap and collar at market rent review.
+ Tasmania: booming economy, #1 for equipment investment and #2 for unemployment across the country. (2)
+ Launceston: northern capital of Tasmania with 230,000+ total catchment.
+ Net Income: $329,696pa* + GST (3)

For Sale by Investment Portfolio Auction
10:30am AEDT Wednesday 27 March 2024
Crown Casino, Melbourne

Bidder registration required, register here.

Please contact the exclusively appointed sales team for more information.

*Approx
1. J Mathew Advisory
2. CommSec State of States Report January 2024
3. Forecast rent as at 1 July 2024 based upon assumed 3.3% CPI increase

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Warehouse/Showroom
Land Size
5,843 SQM
Building Area
2,814 SQM

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