170 Elizabeth Street Launceston

ASSET

AP Eagers Ltd tenanted automobile showrooms.

ASSET DESCRIPTION

Modern, well presented automobile showrooms located on land rich sites. Long term lease to AP Eagers Ltd, paying all outgoings, with options to renew.

TIMING

To be acquired June 2019.

LOCATIONS

  • 170 Elizabeth Street, Launceston, Tasmania

  • 1 Don Road, Devonport, Tasmania

CAPITAL COST (INC ACQUISITION COSTS):

AUD $18.15 million.

FINANCE

55% LVR, Variable at 4.19%, non-recourse.

NET PASSING YIELD ON CONTRACT PRICE

8.11%

DISTRIBUTIONS TO INVESTORS (PAID MONTHLY)

9.50% Year 1.

1 Don Road Devonport