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Riverside Plaza, 298-310 West Tamar Road, Riverside, TAS, 7250

+9 Photos

+11 Photos

SOLD

Riverside Plaza, 298-310 West Tamar Road, Riverside, TAS, 7250

Properties / Sold / Tasmania / Riverside

Tenanted Investment

1. Property Summary

Selling Method

Expression of Interest

Selling Details

Contact Knight Frank

Land Area

11,531 m² (*approx)

Floor Area

3108 m² (*approx)

Property Type

Retail

Terms

Leased to 2031 with options to 2051

Est. Income

$826,666 p/a

Fully Leased

Woolworths

Car Spaces

215

Show All

2. Property Highlights

Highly Prized Woolworths (ASX:WOW) & 7 Shops

Anchored by Woolworths Ltd (ASX:WOW)
Limited direct supermarket competition
Fully Leased Supermarket & 7 shops

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

*Approximately

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