$1,800,000.00

Leased to single longstanding tenant McDermott’s Coaches who have been in occupation since 2011, the property comprises 4,000m2 of land and is extensively improved. Located at Legana Park Drive within the Riverside-Legana growth corridor here is an opportunity to secure a tenanted investment property with a long term tenant in place and offering versatility going forward. The current lease term runs to 2nd October 2022 with one 3 year option to follow. With a net yield of just over 7.4% the property comprises a front warehouse and office building separated into two workshop areas and at the rear is a residential one bedroom flat. There are three rear warehouses in total, external walls are tilt up concrete panel as are the sectional walls and all have their own amenities. Like the front warehouses, they have excellent roller door access and clearance. Adjoining is a two level building, the lower level providing tea room, amenities and office facilities for one of the three warehouses and the upper level is a second one bedroom flat. Security fenced, the yard area is extensive and is bitumen and concrete sealed offering excellent access and is ideal for parking buses in the tenant’s case along with great car parking. This is a property that suits continued occupancy by a single tenant or down the track could easily be leased as multiple tenancies or strata titled (subject to any approval being required secured) – up to 5 separate self contained light Industrial tenancies (excluding the flats) or strata lots ranging in size from circa 190m2 to circa 520m2. All this in an ever growing part of Greater Launceston and the Tamar Valley, “Legana is often cited as being the fastest growing area in Tasmania”- source West Tamar Council. Here is an income generating asset where future potential is yet to be realised.

The information on this website has in part been supplied to Harrison Humphreys Pty. Ltd .by third parties and all information is published solely for potential purchasers to assist them in deciding whether or not they wish to make further enquiries about the properties.

The information on this website has in part been supplied to Harrison Humphreys Pty. Ltd. by third parties and Harrison Humphreys Pty. Ltd. has not checked the accuracy of the information and does no more than pass it on.