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Elders Commercial is delighted to offer for sale a key Devonport CBD asset, subject to renewed new lease to 2032. The property comprising two buildings is located on a prominent corner within Devonport’s CBD core and benefits from three street frontages.
Trading as Zap Fitness, this business is owned by Fitness & Lifestyle Group (FLG) - Asia Pacific’s largest group of corporately owned health and wellness clubs with 330* locations across AUS, NZ, Thailand & Singapore and brands including Zap, Goodlife, Fitness First, Jetts Fitness, Barry’s, & Emily Skye FIT.
Key highlights include:
• FLG majority owned by leading Australian private equity investors Quadrant Private
• FLG has 585k* members across 4 countries
• ZAP Fitness - Founded in Tas in 2009 now grown to 75* locations nationally
• In 2017, Zap was acquired by Fitness & Lifestyle Group
• 52 Stewart St, extensively renovated in line with Zap’s occupation c.2009
• Later Zap expanded next door (44 Stewart St) which was renovated for them c.2017/18
• The tenant has extended both leases by seven (7) years from April 2025 to March 2032
• High exposure CBD corner ~ 1,014 sqm*, three street frontages
• Ideal CBD location, walking distance to major CBD offices, hotels and public parking
• Annual 3.00% rental reviews
• Tenant pays all normal statutory outgoings and is to keep the premises insured
• Est. Net income of both leases $225,000* pa
The property is For Sale by Private Treaty. For details regarding this property, please contact Elders Commercial Tasmania.
*Approximately
Remember to mention you found this property on CommercialReady
Elders Commercial is delighted to offer for sale a key Devonport CBD asset, subject to renewed new lease to 2032. The property comprising two buildings is located on a prominent corner within Devonport’s CBD core and benefits from three street frontages.
Trading as Zap Fitness, this business is owned by Fitness & Lifestyle Group (FLG) - Asia Pacific’s largest group of corporately owned health and wellness clubs with 330* locations across AUS, NZ, Thailand & Singapore and brands including Zap, Goodlife, Fitness First, Jetts Fitness, Barry’s, & Emily Skye FIT.
Key highlights include:
• FLG majority owned by leading Australian private equity investors Quadrant Private
• FLG has 585k* members across 4 countries
• ZAP Fitness - Founded in Tas in 2009 now grown to 75* locations nationally
• In 2017, Zap was acquired by Fitness & Lifestyle Group
• 52 Stewart St, extensively renovated in line with Zap’s occupation c.2009
• Later Zap expanded next door (44 Stewart St) which was renovated for them c.2017/18
• The tenant has extended both leases by seven (7) years from April 2025 to March 2032
• High exposure CBD corner ~ 1,014 sqm*, three street frontages
• Ideal CBD location, walking distance to major CBD offices, hotels and public parking
• Annual 3.00% rental reviews
• Tenant pays all normal statutory outgoings and is to keep the premises insured
• Est. Net income of both leases $225,000* pa
The property is For Sale by Private Treaty. For details regarding this property, please contact Elders Commercial Tasmania.
*Approximately
Remember to mention you found this property on CommercialReady
44 & 52 Stewart Street, Devonport, TAS, 7310
Secure/no obligation
Step 1
Loan Variables
Adjust the inputs to explore your indicative finance options.
Estimated Purchase Price:
What you intend to pay for the property
Your Contribution:
The amount you’re investing
Min: 0% - Max: 90% of purchase price.
LVR:
Loan to Value Ratio
Min: 10% - Max: 100% of purchase price.
Loan Analysis
Yield Calculator
Yield Calculator
Step 1
Loan Variables
Adjust the inputs to explore your indicative finance options.
Estimated Purchase Price:
What you intend to pay for the property
Your Contribution:
The amount you’re investing
Min: 0% - Max: 90% of purchase price.
LVR:
Loan to Value Ratio
Min: 10% - Max: 100% of purchase price.
Loan Analysis
Full report
Please see your Loan Analysis below. The report has been emailed to you, as well as DIG Capital Advisory and the Listing Agent to follow up if needed.
Loan Analysis
