Booming ASX- Listed Hardware Tenant

93 Forster Street, Invermay TAS

Property Highlights

Located in leading Launceston location
Surrounded by leading businesses
Compounding annual 3% increases
Register to Bid

Description

Secure 7 year lease to 2026 plus two (2) further five (5) year options to 2036.
Coventry Group Ltd (ASX: CYG), a market leading hardware, industrial supply and fluid hydraulics business with a market cap of $117.46 million**.
FY21 Sales up 18.2%.
Landlord friendly net lease, tenant responsible for council rates, land tax and landlord insurances according to the lease.
Guaranteed rental growth with annual fixed 3% rent increases.
Outstanding 4,131sqm* site with plenty of on site carparking and hardstand.
First class 1,534sqm (approx.) showroom and high span warehouse.
One of the best selling locations of leading national brands.
Surrounded by leading retailers and industrial tenants including Bunnings, JB Hi Fi, Officeworks, McDonald’s and Boral.
Invermay: Well established suburb of Launceston located 2.2kms from the CBD.
Commsec ranks Tasmania as Australia best performing economy in key indicators***.
Net Rent: $203,454* pa + GST.

To be sold by Investment Portfolio Auction:
10:30am AEDT
Wednesday 12 May 2021
Southbank, Crown Casino, Melbourne

2 other Nubco- Coventry Group Ltd freehold investments also available.
Contact sales team for more details.

**Coventry Group Ltd
***Commsec

*All areas and figures approx only. All boundaries are indicative only. All precaution has been taken to establish the accuracy of all information but does not constitute any representation by the Vendor or Agents.

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Retail
Land Size
4,131 SQM
Building Area
2,490 SQM

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