Offered to the market for sale in one line, 253-261 Wellington St comprises of four high exposure commercial tenancies 150m from entry to Launceston’s southern highway outlet, the city’s main ingress point from the South and North West of the state.
The location of these properties is key to their future success, situated in a commanding position at the base of the southern outlet with high visibility to a constant flow traffic on Wellington Street, one of Launceston’s busiest thoroughfares.
From this position, you can easily access Launceston’s suburbs all within in minutes and it is only 1.3km to the Launceston CBD. Neighbouring high-profile businesses include McDonalds, Metro Tasmania, Launceston Medical Centre and Jacksons Volkswagen. The properties are also within close proximity to the Launceston General Hospital and proposed private hospital development.
The complex is lease with an occupancy of 86.24% by area with quality tenants including ETCS Electrical & Fire and The Crown Right of Tasmania. Substantial upside remains with two storey 255 Wellington St in a partially renovated state and some underletting evident across the site.
253-261 Wellington Street is offered for sale by expressions of interest offering a sound lease profile combined with further development opportunities located on the corner of one of Launceston’s busiest intersections.
- Outstanding high exposure corner location on Wellington Street
- Located within minutes of the CBD and less than 500m Launceston General Hospital
- Easy access to the highway and airport
- 24 newly sealed car parking spaces, serving 4 commercial tenancies
- Quality tenants, including Crown Right of Tasmania
- 3 of 4 tenancies recently refurbished
- 32 month WALE by area with further options available on all leases
- Opportunities for further refurbishment and/or development (STCA)
- High profile surrounding businesses (McDonalds, Metro Tasmania, Launceston Medical Centre)
- All tenancies NBN ready
- Zoning ‘Commercial’ (23.0)
To learn more about this property, contact Andy or Ben at Howell Property Group.
Howell Property Group has no reason to doubt the accuracy of the information in this document which has been sourced from means which are considered reliable, however we cannot guarantee its validity. Prospective clients are advised to carry out their own investigations.