13 Quadrant Mall is an outstanding opportunity for the investor to purchase a fully tenanted mixed commercial / residential property right in the heart of Launceston. The Quadrant Mall is conveniently positioned amongst retail and professional tenancies, just a stone’s throw from the Brisbane Street Mall and multiple car parking options. In recent years the Quadrant Mall has undergone a significant upgrade providing clear and welcoming access to the property whilst retaining the heritage charm of the area.
Tenancy mix is strong with anchor tenant Medibank having leased the property for over ten years. Cake O Clock café is a recent addition to the property and has become very popular with locals and tourists alike. Both of the commercial tenancies have near new fit outs and present very well. Upstairs is a two bedroom residential unit that is currently leased long term. This unit could realise some further upside if converted to short term accommodation in the future.
13 Quadrant Mall is a great option for those looking for a return without the need for up front capital expense. This is a solid set and forget option with a low risk tenancy mix in a key location, what more could you ask for!
Features include:
-Fully tenanted investment
-Medibank: current 3 Year term commenced 1/4/21
-Cake O Clock: current 3 Year term commenced 1/10/20
-New 12-month lease about to commence on upstairs unit
-Annual rent $84,892 ex GST
-Great high profile position in the recently upgraded Quadrant Mall
-Building: 274m2 approx. across two floors / three tenancies
-Land size approx. 184m2
-Zoning ‘Central Business’ (22.0)
-Both ground floor tenants have new high quality fit outs
-Reverse cycle air conditioning
-Well-presented commercial property maintained to a very high standard
Outgoings: (previous financial year)
Land Tax: $6,037.50
Council Rates: $5,041.88
TasWater: $1,048.87
To learn more about this property, contact Andy at Howell Property Group.
