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Knight Frank - Launceston

Riverside Plaza, 298-310 West Tamar Road Riverside, TAS 7250


Riverside Plaza, 298-310 West Tamar Road,
Riverside, TAS 7250

Shops & Retail

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Sale - Expression of Interest closing Thu 7 Dec

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Knight Frank - Launceston
Cale Ayres
Nicholas Bond
Scott Newton

Knight Frank - Launceston

54 Cameron Street
Knight Frank - Launceston
Riverside Plaza, 298-310 West Tamar Road
Riverside, TAS 7250

Map of Riverside Plaza, 298-310 West Tamar Road

  • Bus stops within 5 km of Riverside Plaza, 298-310 West Tamar Road, Riverside, TAS 7250Distance
    4 Fairway Cres116 m
    Stop 16, No.299 West Tamar Rd131 m
    No.322 West Tamar Rd152 m
    No.60 Riverside Drive191 m
    Opposite 24 Cleghorn Ave231 m

Highly Prized Woolworths (ASX:WOW) & 7 Shops

  • Anchored by Woolworths Ltd (ASX:WOW)
  • Limited direct supermarket competition
  • Fully Leased Supermarket & 7 shops
Knight Frank is proud to offer a strategic opportunity to acquire a well-established, strong performing neighbourhood centre - Riverside Plaza, Tasmania. Anchored by Woolworths Ltd to 2031 with options to 2051, and supported by 7 specialty retailers, the asset is located just 5km* from the Launceston CBD on a high profile 11,531 sqm* site, enjoying a low site coverage of 26.95% and excellent visibility to daily passing traffic of 21,744 *vehicles.

Boasting 100% occupancy, the Centre provides peace of mind through strong income security with an attractive 5.71*year WALE (as at 1 November 2023*). Situated on the high-profile West Tamar Road, the centre provides the only full line supermarket in the suburb of Riverside and has achieved annual sales growth to October 2023 of circa 6.79%*.

Key Investment Highlights Include:

- 2,382 sqm Woolworths store paying percentage rental
- 7 fully leased specialty retailers
- Estimated net income $826,666*
- 58%* of the centre’s total income from Woolworths Limited
- Locally dominant convenience based Centre
- Ideal non-discretionary retail backed investment

Riverside Plaza is For Sale by Expressions of Interest closing Thursday, 7 December at 4pm (AEDT).


Property ID: 504464788Last Updated: 28 Nov 2023

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