86 Hobart Road & 4 Riseley Street
Kings Meadows TAS 7249
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Kings Meadows Medical Centre, Anchored by National Tenant
Elders Commercial are excited to present a premium Tasmanian investment opportunity. The property is for sale via Expressions of Interest closing 4 pm on the 26 February 2025.Key property highlights include:
• Early option extension taken by Slade Pharmacy and Kings Meadows Medical taking the unexpired lease terms through until 2032 & 2033.
• Slade Pharmacy: has around 70 stores nationally, with further expansion on the horizon.
• Kings Meadows Medical: provider of high-quality health services since 2006. In 2019 a partnership was formed with Newstead Medical, now providing many staff across both sites.
• Salt Hair & Beauty: Operational in the property since 2018. A well-respected local business
• Diversified income stream across three tenancies with 88%* of the income secured by essential service operators.
• Significant near corner landholding with both titles combined providing an area of 1,937 sqm*.
• Important 25* on-title carparks future proofing the asset and allowing for further development (STCA)
• Prime location on the corner of Hobart Road and Riseley Street with over 30,000* vehicle movements per day.
• Kings Meadow is Launceston’s most prominent commercial location outside of the CBD.
• The property is located within 100m of Launceston’s largest shopping centre.
• Net Lease structure with the tenants paying all statutory outgoings.
• Weighted average lease expiry of 7* years.
• Net Income $179,134*.
Please contact Fletcher Seymour or David Webster for more information or to arrange an inspection.
*Approx
Features
General Features
- Commercial Type: Medical/Consulting
- Building Area: 730sqm
- Zoning: Commercial
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Enquire about 86 Hobart Road & 4 Riseley Street, Kings Meadows, TAS, 7249