110-114 Gilbert Street
Latrobe TAS 7307
Contact Elders Commercial
Auction: 1st Apr 2026 (10:30 am)
Freestanding IGA + Mitre 10 | 10 yr lease to Tasmania's largest independent grocer
Elders Commercial Tasmania together with CBRE are pleased to offer to the market the ‘Hill Street Grocer & Mitre 10’ retail shopping complex, located at 110 - 114 Gilbert Street and Lot 2 Weld Street, Latrobe, Tasmania.This fully leased retail asset has the following key investment highlights:
• Long term lease to Hill Street Grocer to 2035, plus 5 x 10 yr options to 2085*
• Hill Street Grocer: Tasmanian’s largest independent grocer est. 2001, 11 stores, employing over 800 people (1)
• Mitre 10 lease to June 2029, plus 2 x 5 yr options to 2039*.
• Tenant is a wholly owned subsidiary of Metcash (ASX: MTS – market cap 3.62b*)
• The site has a rich retail history dating back to the 1880’s* and is complemented by three high street tenancies operated by Hill Street including menswear, womenswear and craft
• Strategic main street site of 11,592* sqm zoned ‘General Business’, with building area of 3,754 sqm*
• Combined Gilbert Street frontage of in excess of 57 m*
• Highly sought after ‘investor friendly’ net lease structures
• Dominant retail offer in catchment - ‘Hill Street’ best in class independent grocery and fresh food offer
• Diverse retail offer – grocery, fresh food, hardware, rural supplies, clothing and apparel
• Long WALE of 7.3* years. Net Income: $596,986 + GST
• Latrobe: Home to major regional hospital infrastructure, excellent highway access and short 10 m* drive time to Devonport where 450,000* passengers arrive annually via the Spirit of Tasmania (2)
• Tourism: Tasmania welcomed 1.35* million visitors to June 2025, up 3.6%* in the year ending September 2024, up 3.5% on 2023 (3)
To be sold by Investment Portfolio Auction 183
10:30 am (AEDT) Wednesday 1 April 2026
Crown Casino, Melbourne
*Approximate
(1) Hill Street Grocer
(2) Devonport City Council
(3) Tourism Tasmania
Features
General Features
- Land Area: 1.2hect
- Commercial Type: Retail
- Building Area: 3,754sqm
- Zoning: General Business
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