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Knight Frank is proud to offer a strategic opportunity to acquire a well-established, strong performing neighbourhood centre - Riverside Plaza, Tasmania. Anchored by Woolworths Ltd to 2031 with options to 2051, and supported by 7 specialty retailers, the asset is located just 5km* from the Launceston CBD on a high profile 11,531 sqm* site, enjoying a low site coverage of 26.95% and excellent visibility to daily passing traffic of 21,744 *vehicles.
Boasting 100% occupancy, the Centre provides peace of mind through strong income security with an attractive 5.71*year WALE (as at 1 November 2023*). Situated on the high-profile West Tamar Road, the centre provides the only full line supermarket in the suburb of Riverside and has achieved annual sales growth to October 2023 of circa 6.79%*.
Key Investment Highlights Include:
- 2,382 sqm Woolworths store paying percentage rental
- 7 fully leased specialty retailers
- Estimated net income $826,666*
- 58%* of the centre’s total income from Woolworths Limited
- Locally dominant convenience based Centre
- Ideal non-discretionary retail backed investment
Riverside Plaza is For Sale by Expressions of Interest closing Thursday, 7 December at 4pm (AEDT).
*Approximately
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