Knight Frank has the exclusive opportunity to offer for sale 33-35 Steele Street, Devonport, Tasmania.

33-35 Steele Street, Devonport is a two level office building constructed circa 1948, located on a corner allotment of approximately 894 sqm with frontage to Steele and Macfie Streets. The property is complimented by rear at grade parking for approximately 18 cars accessed from Macfie Street.

The building comprises an Art Deco structure containing 4 commercial tenancies. These tenancies are all fully occupied with Salvation Army Employment Plus being the main occupier to the ground floor with three smaller office suits fully leased to the upper level which has at grade access from Steele Street.

The site is currently zoned “Urban Mixed Use” which provides a good degree of flexibility with various residential, visitor accommodation and commercial uses either “permitted” or “discretionary” uses within this zoning classification, providing a multitude of future re-development opportunities (STCA).

The property has an estimated net income of approximately $114,314.47 pa + GST and a Weighted Average Lease Expiry (WALE) of approximately 2.3 years.

The property is highly desirable to investors and developers alike, being currently fully occupied with a good level of passing income. Its CBD location, car parking and urban mixed use zoning means it possesses a number of re-development opportunities (STCA).

For sale at $1,400,000 + GST (if applicable).