25-27 Paterson Street is a standalone multi-tenancy office building with parking, commanding a prominent position right in the commercial heart of Launceston's CBD.
Built circa 1971 for NZ Insurance, this two level contemporary office building offers owner-occupiers a very neat 189m2 shopfront vacancy on the ground floor with the added benefits of secure under croft car parking and disabled access. Equally, for the astute investor or saavy developer there's opportunity to value add with additional multi-level development (STCA) for either residential apartments or more commercial offices (STCA).
Features include:
- Car parking at rear plus Paterson Street East multi-level car park three doors along
- Disabled access to ground floor for owner-occupiers or future tenants (suiting NDIS providers or similar)
- Over 13m of frontage to three lanes of one way traffic
- Excellent tenancy configuration with five tenancies in current layout
- Offered for sale with potential signage rights to the building
- Part leased with passive gross income of approx. $46,391pa + GST from three first floor tenancies
- Fully leased net income potential of approx. $92,655pa + Outgoings + GST
- Extremely solid concrete and brick construction with immense development upside for additional levels STCA