112 Main Road Exeter, 7275 TAS
Landmark Freehold Opportunity – Circa 8.5% Net
A rare opportunity to secure a closely held retail site in Exeter. Comprising 3 tenancies, with the core tenant, Freeland's IGA Xpress, having occupied the site since 1969.
• Secure leases in place over 3 tenancies.
• Supermarket leased for 5 years with 5 year option.
• Australia Post outlet recently leased on a 5 plus 5 basis.
• Residential apartment on level one leased.
• Approximately 580m2 of Floor area on the ground floor (combined).
• Residential Unit comprises approximately 107m2.
• Land area comprises approximately 1,120m2 plus common area.
• Net Rental Income approximately $108,000 p.a.
• Current outgoings approx. $18,000.
• Off Street parking for 15+ vehicles, and separate loading bay.
Recent Upgrades/Improvements include:
• Re-Roofing, fascia and guttering.
• Asbestos removal.
• Switchboard upgrades.
• New toilet/amenities areas.
Sold $1,300,000
Inspect
Inspection of this property is available strictly by arrangement only.
Contact
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Andrew Macdonald