New high-end hardware asset set to cause a stir
Tool Kit Depot at No.80 Lindsay St, Invermay Tas is heading to auction on June 25, 2025. Picture: Supplied
A 2024-built Tool Kit Depot in Launceston city will be sold at auction this week.
TKD is an all-under-one-roof power tool, equipment, safety, and workwear destination for trade professionals.
Located in a large format retail hub in Invermay, No.80 Lindsay St offers 1600sq m of floor space and a position near national brands Bunnings Warehouse, Petstock, Officeworks, JB Hi-Fi, The Good Guys, RSEA Safety and Boral.
MORE: Devonport Petbarn, Vinnies site ready for auction action
Coastal sanctuary’s refined beachside lifestyle
Tool Kit Depot.
Tool Kit Depot.
TKD, formerly Adelaide Tools, was purchased by the Bunnings Group 2019 as a way for the Aussie giant to expand its reach into the specialised tool market for tradies.
The move meant Wesfarmers, the parent company for Bunnings, was able to cater to a wider range of customers through products not offered at traditional Bunnings Warehouse complexes.
The move wasn’t without controversy, though, with tradies expressing frustration their Bunnings cards were not useable at TKD sites.
Burgess Rawson partner Matthew Wright said the TKS sale in Tassie was a great opportunity.
“The buyer of this asset will effectively be getting a Bunnings Warehouse lease,” Mr Wright said.
“From an investor’s point of view, TKD is a newer brand which presents an opportunity to buy now at a good price.
“Once people realise it is part of Bunnings — but with a focus on selling to trade professionals — yields could compress.
“The location of this property in Invermay is also key, it is large format retail heaven,” he said.
MORE: SOLD: What’s next for this iconic Tassie coastal resort?
Interstate developer to put stamp on ‘gateway’ site
Tool Kit Depot.
Tool Kit Depot.
The net income for the building is $420,000 plus GST. The tenant pays all the usual outgoings, including land tax on a single holding basis.
Mr Wright said an advantage in Tasmania compared to other states like Victoria, is that land taxes on Tassie assets are recoverable.
“It is a huge point of difference for mainland-based investors who are assessing properties in Tasmania,” he said.
The Lindsay St building was constructed last year with the latest corporate Tool Kit Depot fit-out, and offers significant depreciation benefits with about 51 per cent of the year-one rent potentially tax-free.
Tool Kit Depot.
Tool Kit Depot.
The expansive 3698sq m of land is situated directly in front of Bunnings, with 28 car spaces on-title.
No.8 Lindsay St, Invermay is 100 per cent leased to Bunnings Group Limited, a subsidiary of Top 10 ASX-listed Wesfarmers Ltd with a current market cap of $93bn.
It is for sale by Investment Portfolio Auction, from 10.30am on June 25, Crown Casino, Melbourne.
