Owner Says Sell – Rare 15 Year lease plus options to 2036, Market Leading Japanese Restaurant

Burgess Rawson and Knight Frank Tasmania are pleased to offer to the market, Kosaten Japanese located at Unit 15/13-17 Castray Esplanade, Battery Point for sale via our Burgess Rawson Auction Investment Portfolio 167.

+ Long and 15 year lease through to 2036.
+ Kosaten Japanese: Game Changing modern Japanese restaurant with significant following across Tasmania and interstate with over 5 locations and more planned.
+ Assured rental growth through fixed 3.5% annual increases.
+ Rare, landlord-favourable, net lease terms with tenant responsible for usual outgoings (including land tax and body corporate fees).
+ Impressive and modern $750,000 state of the art fit-out.
+ 201sqm* strata area with key frontage and exposure to sought after Castray Esplanade and Salamanca.
+ Superbly located in the Salamanca Waterfront precinct, a tourist mecca with over 1.3 million*+ visitors per year.
+ Surrounded by some of Tasmania’s best accommodation, restaurants, bars and the famous Salamanca Market.
+ Within 1.5km of the University of Tasmania, home to over 24,500* domestic students- enrolments up 14% from FY2020*****.
+ Battery Point: Located just 600m from the Hobart CBD, Battery Point is one of Hobart’s most prestigious residential areas with a median house price of $2,200,000** with a huge 54.4% median house growth in last 12 months.
+ Hobart: Tasmania’s administrative capital with a population of 250,000+* and growing.
+ Tasmania: Has consistently led the nation over the past 3 years in CommSec’s state of the state report, currently number #1 in equipment spending.
+ A minimal management investment.

+ Net Rental: $123,736.93 pa + GST (June 2024)

To be sold by Investment Portfolio Auction
10:30am AEDT Wednesday 27th March 2024
Crown Casino, River Rooms, Melbourne

Bidder registration required, register here.

Please contact the exclusively appointed sales team for more information.