Passive Bricks & Mortar investment offering 7.25% yield * New Norfolk
One of the most recognisable buildings in the street and referred to locally as “Browning’s” holds a prime position on the roundabout within the busy New Norfolk commercial hub on High Street.
A great passive bricks & mortar invest offering 7.25% yield in New Norfolk.
Low maintenance investment that is fully leased to well know entity, Salvation Army with a current 2020, 5-year term + 5 option.
The current Net Rental is $49,000 pa + GST with annual 2% increase and market value on exercise of each option period capped at 5%.
With a total land area measuring approximately 1016m² made up of an open plan retail / shop area of 450m² and a car parking area for 16 cars.
The building is solid brick construction and most recently housed Zap Fitness, Internally the building is in excellent condition.
Community well serviced with national retail and essential services nearby. Located 30 minutes away from Hobart, the New Norfolk Township is showing growth as the gateway to the central highlands and west coast of Tasmania.
“Browning’s” offers a great investment opportunity of prime real estate in New Norfolk.
FOR SALE For $675.000