37 Formby Road,
Devonport, TAS 7310

Shops & Retail • Warehouse, Factory & Industrial

Key property information

Land area

Floor area

Tenure type

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Map of 37 Formby Road

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Strong investment opportunity 8% yield

A fantastic opportunity now exists for the right investor to add a strong investment to their portfolio. This 926m2 approx. is home to a very long-term and well known tenant. The property itself consists of a very large show room of approx. 550m2 and an additional 450m2 approx. warehouse area. There is also a first floor office area and full bathroom including shower
The current tenants are committed to a new 5 year lease and their business has operated from this location for many years. High street exposure, roller door access to the warehouse and an extremely modern showroom are the hallmarks of this property. Recent and extensive renovations have ensured that the property is in A1 condition and low maintenance. With a yield of approx. 8% based on the asking price this property is a must for investors to investigate further

• Long-term and well known tenant
• High exposure location
• Recently renovated
• Modern fittings and showroom
• Could be leased to two tenants in the future if required
• Good term of lease
• Strong income and solid yields
• All outgoings paid by tenant

Outgoings
Rates: $6,643.00
Water: $320.00

Devonport, 7310 demographic data

The median household income for Devonport is $1,093, 11% lower than Regional Tasmania's household income of $1,225. Devonport has a younger age profile compared to the rest of Regional Tasmania (median age 43 vs 45). Property ownership data shows 45% of property owners in Devonport have a mortgage.

14,481

Population

$1,093 per week

Median household income

43 years

Median age

Owners

Most residents

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