Multi-tenanted suburban shopping complex with major development potential
Elders Commercial offer for sale for the first time in over 40 years, this premium corner shopping complex situated at 441-445 Main Road, Glenorchy.
This mixed-use, multi-tenanted property will appeal to numerous buyer sectors with its scope for significant short term rental growth, owner occupier potential and development options at lease expiry**. The property is situated on a substantial, high-profile allotment, on the corner of Main Road and King George V, and within the Glenorchy Commercial Strip which is home to the Woolworths and Coles anchored Northgate Shopping Centre, and Big W anchored Glenorchy Plaza.
Further key highlights of the property include;
• Substantial 2,160sqm* corner allotment, in a prominent northern suburbs precinct
• Diversified income streams, with scope for significant rental growth through upcoming market rent reviews and letting of the residential units
• Annual increases in line with CPI, providing a hedge against inflation
• High exposure to passing vehicle traffic
• Major development potential for QSR, Fast Food, Childcare or medium format retail**
• Dual access via Main Road and Innes Street
• Zoning: Commercial under the Tasmanian Planning Scheme – Glenorchy
• Nearby businesses include Hungry Jacks, Shell, Woolworths, Coles, Big W, ZAP, National Storage, Services Australia
• Net Passing Income: $72,632 + GST***
The property is for sale via Expression of Interest closing Tuesday 4th June at 4pm (AEST)
For further information or to arrange an inspection please contact Claude Alcorso or George Burbury
*approximately
** STCA
*** Before owner outgoings
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