44 Rooke Street
Devonport TAS 7310
For Sale by EOI Closing 2 October 2024
Best & Less On-Site 30*+ Years | Renewed 7 Year Lease Plus Option to 2036
Elders Commercial and Burgess Rawson are pleased to offer to market ‘Best & Less’ located at 44 Rooke Street, Devonport, Tas for sale by Expressions of Interest, closing 3:00pm (AEST) Wednesday 2 October 2024.The property has the following key investment highlights:
• Renewed 7 year lease to Best & Less to April 2031
• One (1) further 5 year option to April 2036
• Best & Less Group: est. 1965, leading apparel retailer
• 245* locations across Aus (Best & Less) & NZ (Postie)
• Wholly owned by private equity giant BBRC.(1)
• Longstanding tenant with Best & Less on-site since 1994*
• Favorable annual CPI reviews (cap 5.00%)
• Part two level 1,286.5sqm* retail building
• $436k* of works in 2024 (part tenant funded)
• Irreplaceable 1,075sqm* freehold landholding
• Devonport trade catchment > 70,000 residents (2)
• Position Perfect within the Rooke Street Mall
• Surrounded by leading service offerings and retailers:
• Telstra, Optus, Prouds, NAB, ANZ, Bendigo, EB Games
• Devonport - Largest North-West Coast city
• Tasmania’s port and tourism link to Mainland Australia
• A minimal management investment
• Net Income: $222,553 pa* + GST
Internal store refurbishment works and external signage updates have been completed in the last week.
For Sale by Expressions of Interest Closing 3pm (AEST) Wednesday 2 October 2024.
*Approx
1 LinkedIn
2 Devonport City Council
Features
General Features
- Land Area: 1,075sqm
- Commercial Type: Retail
- Building Area: 1,287sqm
- Zoning: Central Business
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