Sunday, December 22, 2024

Riverside Plaza Shopping Centre Launceston Tasmania sold by Knight Frank Tasmania

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Knight Frank Tasmania announce the exchange of an unconditional contract of sale for Riverside Plaza, Tasmania at $14.0m to a Victorian based private investor.

Riverside Plaza is a convenience-based centre anchored by a long-term lease to Woolworths Ltd and 7 retailers and is situated on an 11,531 sqm site on West Tamar Road, Riverside, approx.5.0km from the Launceston CBD.

The Centre, which is 100% leased, incorporates a refurbished Woolworths supermarket of 2,382 sqm and 7 specialty retailers, with 215 car parks. The asset is secured by a long-term lease to Woolworths Ltd to 2031 with options to 2051.

Nicholas Bond, Knight Frank Director said ‘apart from Riverside’s attractiveness to investors as a popular ‘daily needs’ Centre with an ASX backed major lease covenant and strong trading performance, the Centre has the advantage of limited direct supermarket competition in its main catchment and provides a compact and popular centre with a manageable number of speciality tenants. Confidence in the Northern Tasmanian market was evident during the campaign with Knight Frank fielding over 90 enquiries’.

The asset was sold by Knight Frank agents Nicholas Bond, Cale Ayers and Scott Newton.

 

More Knight Frank Tasmania Reading:

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Salamanca Waterfront Retail Hobart Tasmania for sale – Burgess Rawson and Knight Frank Tasmania  | Commo.

c.1923 renovated old Sandy Bay home for sale – Knight Frank Tasmania | The Real Estate Conversation

Striking Tasmanian beachfront home for sale – Knight Frank | The Real Estate Conversation

 

More retail reading:

Queen Street Village Southport for sale McVay Real Estate  | Commo.

Salta Properties sub-regional shopping centre development site sold to Revelop – $20m by JLL  | Commo.

Sydney Northern Beaches shopping centre for sale – JLL & Stonebridge | Commo.

Standalone supermarket Coles Bentleigh for sale by Gross Waddell ICR | Commo.

Freestanding Coles Launceston Supermarket for sale for the first time in over 7 years – JLL & Stonebridge | Commo.

 

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