This article is from the Australian Property Journal archive
TWO key Launceston commercial sites are expected to fuel plenty of investor interest when they go to auction later this month as part of the Burgess Rawson portfolio offerings.
The United Petroleum service station at 129 Invermay Road, on the corner of Forster Street, and the Games World retail space at Shop 1, 111-113 St John Street in the city’s CBD will be part of proceedings at Melbourne’s Crown Casino, to be held by auction house Auctionworks, on Wednesday, May 17th from 11am.
The high-profile service station site encompasses 1,831sqm with a combined frontage to Invermay Road and Forster Street of 72 metres. It was fully refurbished in 2010 and is offered with a 20-year triple net lease to United until 2036 plus options to 2056, returning $240,000 per annum.
The site is located directly opposite Aurora Stadium, used for AFL and cricket matches and other major events, and is being marketed by Jamie Perlinger and Scott Meighan of Burgess Rawson with Ian Singline of Shepherd & Heap.
The 261sqm newly fitted-out CBD space on St John Street is being offered with a new five-year lease to March 2022 to national games and puzzles retailer Games World, plus options to March 2032, and returning $67,000 per annum with fixed 3% annual increases.
Burgess Rawson’s Doug Doyle and Shaun Venables are marketing the property with Blake Shepherd and Ian Singline of Shepherd & Heap.
Australian Property Journal