This high profile stand-alone main street site is being offered for sale by Tender. Currently the building is being leased by the Tasmanian Liberal Party and has subject to the current lease.
The weatherboard property was constructed in the early 1900s and the site has an extremely high-profile street appeal and is located in a remarkably high traffic area of both cars and foot traffic. The site comprises 670m2 of land and the total office footprint is 162m2. The building has been nicely renovated to suit today's market.
The main building has a large reception area that is separated with a counter and glass partition from the administration section. Additionally there are 2 offices, main meeting room, and updated kitchen and bathroom facilities.
There is an abundance of storage with a storage shed outside the rear door and at the very rear of the block is a 42m2 colour bond garage providing bonus extra storage and space. A new timber fence is being constructed and Parking is in abundance in the back yard for workers and customers alike.
The current lease to the State government expires on 30 April 2022 with no option to renew. There is potential for a rental uplift from the current net rental of $25,000* per annum excluding GST. Under the current lease, the Lessor is responsible for the payment of outgoings; maintenance; insurance etc.
Under the terms and conditions of the current Lease, the Lessee has the right to terminate the Lease with three (3) months notice. An estimate of current outgoings including Council rates, Water rates and Land Tax is approximately $6,500 excluding GST.
With a scarcity of freehold commercial stock available in Sorell this is recommended buy.
For further information or to arrange an inspection please contact Warrick Hobart or Rob Henry.
* Current rental not yet confirmed following 1 May 2021 annual CPI increase.