Freehold Investment

South Hobart

359-361 Macquarie Street

For Sale by Tender

The Property
Four shops and two apartments comprises a mixed retail, commercial and residential investment property located in South Hobart commercial precinct.

The Location
This area of South Hobart is the recognised commercial hub of a very popular residential district. Surrounding properties comprise the Vaucluse Retirement Village, a newsagency, chemist, coffee shops, delicatessens and other service orientated retail outlets.

The Land and Title Particulars
The complex is erected on a 918m2 site which is on the North Western side of Macquarie Street.
It is the same as is contained in Certificate of Title Volume 141102 Folio 1.

The Improvements
Erected along the Macquarie Street frontage are two separate buildings as follows.




359a and 359b Macquarie Street

Comprises two conjoined weatherboard shops with colour bond roof and timber floors.
Each has an attic area and both share common toilet facilities.
The shops operate as Lustre Hair & Beauty.
While the exterior structure is original the shops were completely redeveloped and remodelled in 2007 and provide effectively as new facilities.




361 a, b, c and d Macquarie Street

Comprises a two storey rendered brick structure with two ground floor retail outlets and two first floor residential apartments. Floors are concrete.

361a Macquarie Street
The restaurant was initially established as Mojo in 2007 with the original tenant undertaking the restaurant fit out at their own expense. The owners of the building provided open plan area and male and female toilets.

361b Macquarie Street
Australia Post Outlet
This franchised Australia Post Retail Outlet and South Hobart Post Office was established in 2007. When the previous Post Office, then located opposite was purchased and transferred to this site.

361c Macquarie Street
First floor two bedroom, one bathroom apartment, with access from the rear car park features well equipped kitchen and large living/dining area with a North facing rear dock.

361d Macquarie Street
First floor two bedroom, one bathroom apartment, with access from the rear car park features well equipped kitchen and large living/dining area with a North facing rear dock.

Condition
The redevelopment was completed in 2007, all improvements are in very well maintained condition.

Depreciation TBA
No depreciation has hitherto been claimed on the building cost. Such depreciation will be available to the purchaser.

Tenders Close Wednesday 8th September 2010