CBRE, 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:
CBRE 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