An Invermay building owned by Bunnings Warehouse has been sold for one of the highest prices at June’s Investment Portfolio Auctions.
Burgess Rawson from CBRE sold No.80 Lindsay St for $8.1m under the hammer. This delivered a 5.19 per cent return.
Leased to Tool Kit Depot, and built only last year, the building was revealed to be a highly prized asset among the dozens sold at the auctions held in Melbourne, Sydney and Brisbane.
Burgess Rawson partner Matthew Wright said it was purchased by a private interstate-based investor who has other holdings in Tasmania.
He said the Bunnings Ltd lease was extremely attractive to potential buyers.
“It is the first TKD that they have offered to the market, and we were happy with how it performed,’ he said.
“It has set a benchmark, a strong yield for the rest of Australia.’
Related content
Mount Pleasant dual-tenanted large format retail asset sold – Burgess Rawson from CBRE
A premium dual-tenanted large format retail asset at 2 Heaths Road, Mount Pleasant sold by…
Hobart CBD block sells for $30m+ in landmark UTas deal
A landmark city block in the heart of Hobart’s CBD has been sold for a…
