Property / 45-47 Rooke Street
Devonport TAS 7310
For Sale by Auction - 6 August 2025
Auction: 6th Aug 2025 (10:30 am)
National Australia Bank (ASX:NAB) - New Tenant Funded $1.7m CBD Branch
Elders Commercial in conjunction with Burgess Rawson are pleased to offer to market NAB Devonport, TAS for sale by Investment Portfolio Auction at 10.30 am (AEDT) Wednesday 6 August 2025 at the Crown Casino, Melbourne.The property has the following key investment highlights:-
• Six (6) year lease to 2030 plus options to 2040, to National Australia Bank Limited. Tenant Investment of $1.7 m* to establish new open plan design branch in June 2024. NAB part of Devonport community for over 50 years (1).
• National Australia Bank (ASX:NAB): Market Cap $122.16 billion*. Network of 609* branches/business centres and sites, 39,976 staff (FTE*). Half year profit $3.407 b*. $41 m* invested in branch renovations to March 2025. Ranked No. 3 on ASX by Market Cap (1).
• Strategically positioned on the corner of the Rooke Street Mall in the CBD of Devonport, which is one of the dominant retail strips of North West Tasmania.
• Complimentary income streams derived from two upper-level tenancies leased to office and beautician uses, with leases to 2027 and 2030 plus options.
• Investor preferred net lease to NAB, with tenant responsible for share of Council/water rates, land tax and building insurance as per the lease. 73.32%* of building's gross income is derived from NAB. WALE 4.14* years by income.
• Irreplaceable 311 sqm* freehold corner landholding with frontages to the Rooke Street Mall and Stewart Street, within the Devonport Central Business zone. Part three level building with a total GBA of 807 sqm*.
• Devonport: 450,000 passengers arrive annually via the Spirit of Tasmania into Devonport (2).
• Devonport: Devonport has a diversified economy based on the traditional sectors of Retail Trade, Health Care and Social Services, Manufacturing and Freight. With LIVING CITY, Devonport is emerging as the service, retail, tourism and cultural capital of North West Tasmania (2).
• Tourism: Tasmania welcomed 1.306 million visitors in the year ending September 2024, up 3.5% on 2023 (3).
• Estimated Net Income: $113,198 pa* + GST.
• Positioned perfectly on the corner of Rooke Street Mall, a bustling shopping and social hub nestled in the heart of Devonport's CBD, which includes leading national retailers Telstra, Optus, ANZ, LivEat, Banjo's, Best & Less, Bendigo Bank, CBA, RACT Insurance and Reading Cinemas.
For sale by Investment Portfolio Auction, 10.30 am (AEDT) Wednesday 6 August 2025 at the Crown Casino, Melbourne.
*Approx
(1) NAB
(2) Devonport City Council
(3) Tourism Tasmania
WALE as at 02/08/2025
Features
General Features
- Commercial Type: Offices
- Building Area: 691sqm
- Zoning: Central Business
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