Superb CBD Investment - ASX & Government Tenant
Elders Commercial is privileged to present this exceptional CBD investment opportunity, offered to the market for the very first time since completion in 2009. Situated in a high-exposure position in Cimetière Street, one of Launceston CBD's most prominent commercial corridors, the property is strategically located within the city’s financial precinct, surrounded by major office developments including Cimitiere House and the recently completed St Lukes office tower "Carcoola".The property is underpinned by a strong and diverse income profile, delivering a passing net income of $498,005* per annum with a c. 5.7 year WALE. Supported by 2 tenancies and flexible Urban Mixed Use zoning, the building offers 21 onsite car parks, an increasingly scarce commodity within the CBD.
The key tenancy by both area and tenancy covenant is the 990 m²* 1st floor occupied by the Federal and State government funded Tasmania Legal Aid with a 10 year lease commencing 1 July 2023 + 2 x 5 year options through to 2043.
The ground floor of 495 m²* has been occupied by The Agency (previously Bushby Real Estate) since the building was completed in 2009. The Agency is an ASX listed company.
* Approximate
Features
General Features
- Land Area: 0
- Commercial Type: Offices
- Building Area: 1,485sqm
- Zoning: Urban Mixed Use
- Car Spaces: 21
Can I afford Whole building / 117 Cimitiere Street?
Whether you’re a first-time buyer, looking for your next home, or considering upgrading or downgrading, Elders Finance can unlock the doors to the right finance option for you and get you into the home of your dreams.
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