Rare 17 Year Triple Net Lease to 2034 – Prime Tasmanian Retail Investment

Description

Burgess Rawson, in conjunction with Knight Frank Devonport, are pleased to offer to the market, United Petroleum, Devonport TAS for sale via Investment Portfolio Auction 156.

The property has the following investment highlights:

+ Rare 17-year Triple Net Lease to 2034 plus options to 2054.
+ United Petroleum: Top tier tenant, one of Australia’s largest and fastest growing independent fuel retailers with over 465 sites nationally.**
+ Strong and certain rental growth with fixed annual, compounding 3.25% increases.
+ Landlord-favourable, triple net lease terms with tenant responsible for rates, building insurance, public liability insurances and single holding land tax.
+ Tenant also responsible for all structural maintenance, repairs, and replacement.
+ IMPORTANT: United Petroleum owns, maintains, repairs and replaces all fuel tanks*, equipment plus site remediation.
+ Constructed in 2017, offering modern infrastructure and taxation saving depreciation benefits.
+ Large 1,834sqm corner site with a combined 85 metres of street frontage and exposure to 52,000 plus vehicles per week.***
+ Position perfect, directly opposite Devonport High School (500 Students) and 450 metres from Woolworths, Coles and Kmart.
+ Surrounded by important social infrastructure, including Devonport Library, Devonport Magistrates Court and 12 schools within 2.5km servicing over
4,339 full time students.****
+ Devonport: Tasmania’s largest northwest city and the major service centre, port and tourism link to Melbourne.
+ Geographical significance of the area evident through ongoing private and publicly funded development projects – the $250M LIVING CITY is the largest urban renewal project ever undertaken in regional Tasmania and is transforming Devonport into a place of growth and long-term prosperity.***
+ CommSec ranks Tasmania as Australia’s third best performing economy in key indicators.*****
+ Net Income: $234,682 pa* plus GST

To be sold by Investment Portfolio Auction:
10:30am AEDT Wednesday 26th October 2022
Crown Casino, Melbourne

Please contact our agents below for further information:

Burgess Rawson Melbourne
Jamie Perlinger 0413 860 315
Matthew Wright 0458 290 588
Rick Jacobson 0413 830 083

Knight Frank Devonport
Nicholas Bond 0414 395 007
Clinton O’Keefe 0419 610 877

*Approximately
** United Petroleum
***Devonport City Council
****GapMaps
*****CommSec

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Contact agents
Jamie Perlinger Head of Agency | Partner
0413 860 315
Matthew Wright Partner
0458 290 588
Rick Jacobson Sales Executive
0413 830 083
Enquiry Form

Devonport, TAS

89 Best Street

  • Sold Price: Contact Agent

This property was sold as part of Portfolio 156

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