For Sale Retail / Warehouse (2 tenancies) on Devonport’s bustling Don Road 47-49 Don Road, DEVONPORT TAS 7310
This single level retail / warehouse facility under one roof and split into two substantial, autonomous tenancies is now available for sale.
A rental return of 8.5 9.5% is highly achievable when both premises are leased.
Situated amongst several other long standing businesses on Devonport’s busiest arterial entry road from the west, the property enjoys great visual exposure from the high volume vehicular and foot traffic on Don Road. The floor to ceiling glass frontage for both tenancies maximises opportunities for retail display and promoting products.
The current property owner operates a highly successful retail and wholesaling business in one of the premises, and is prepared to lease back from a new owner on a 5 + 5 basis, and on the current rental arrangement commencing at $45,000 per annum. Their floor space is 535m2 and consists of:
• Showroom/reception space -296 sqm
• Store and office space – 40 sqm
• Kitchen 23sqm
• Rear storeroom 166sqm
Tenancy 2 with a floor space of 498 sqm is empty at the moment, so is ideally placed for an operator / investor to move in and run a business for themselves, while collecting guaranteed rent from a solid tenant next door.
The well maintained and modern building has off street customer parking at the front of both tenancies, and ample parking and vehicular movement area for staff and suppliers at the rear.
Both tenancies have vehicular roll-a-door access at the rear or side of the building, and toilet facilities. Tenancy 2 has an easily movable stud wall separating the back section from the front.
Easy access to Don Road and the Bass Highway only 3 minutes away makes this property an ideal base for retailing, and wholesaling goods and services along the coast.
Give Phil a call to discuss a great opportunity.