Global firm underpins $4m+ Moonah investment
No.34 Chesterman St, Moonah. Picture: Supplied
A highly sought-after industrial investment opportunity in the tightly held Moonah precinct has come to market.
It is underpinned by a new long-term lease to a global industrial manufacturer.
No.34 Chesterman St comprises a 1190sq m high-quality industrial facility on a 3106sq m dual-title landholding, complete with secure hardstand, modern improvements and excellent loading access.
Agents from RWC Tasmania described the property — situated 7km from the Hobart CBD — as one of the most secure, growth-aligned industrial investments to be offered in greater Hobart this year.
This global brand, Tricab, operates in a variety of high-demand sectors, including mining, energy, infrastructure, defence and advanced manufacturing.
It has committed to a new seven-year lease with annual rental increases of the greater of 3 per cent or CPI, offering investors strong, predictable income growth.
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No.34 Chesterman St, Moonah.
Partner at RWC Tasmania, Claude Alcorso, said industrial investment opportunities of this quality are increasingly scarce in Hobart’s tightly held northern industrial corridor.
“Assets with international tenants, new long-term leases and built-in growth are exceptionally rare in Tasmania,” he said.
“This highly regarded global operator, and their renewed commitment to the site reflects both the strength of this facility and the long-term importance of the Moonah precinct.”
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No.34 Chesterman St, Moonah.
Trevor Fox, also partner at RWC Tasmania, emphasised the strength of the industrial sector and the ongoing investor demand for high-quality leased assets.
“Industrial remains one of the strongest performing commercial sectors nationwide, and Hobart is no different,” he said.
“Vacancy rates are at record lows, development pipelines are constrained, and demand continues to outstrip supply.
“Investments like this, which are secure, modern and strategically located, are tightly contested.”
The property generates a net rental of $235,000 plus GST, with the tenant responsible for all outgoings including land tax, Council rates, Taswate, building insurance and fire protection.
High-quality improvements include 7.6m clearance, amenities, a double-access loading dock, electric roller door access, three-phase power, and a sprinkler system.
The property is for sale via private treaty offers in excess of $4m.
