Highly Prized Woolworths (ASX:WOW) & 7 Shops
298-310 West Tamar Road, Riverside TAS
- Anchored by Woolworths Ltd (ASX:WOW)
- Limited direct supermarket competition
- Fully Leased Supermarket & 7 shops
Knight Frank is proud to offer a strategic opportunity to acquire a well-established, strong performing neighbourhood centre - Riverside Plaza, Tasmania. Anchored by Woolworths Ltd to 2031 with options to 2051, and supported by 7 specialty retailers, the asset is located just 5km* from the Launceston CBD on a high profile 11,531 sqm* site, enjoying a low site coverage of 26.95% and excellent visibility to daily passing traffic of 21,744 *vehicles.
Boasting 100% occupancy, the Centre provides peace of mind through strong income security with an attractive 5.71*year WALE (as at 1 November 2023*). Situated on the high-profile West Tamar Road, the centre provides the only full line supermarket in the suburb of Riverside and has achieved annual sales growth to October 2023 of circa 6.79%*.
Key Investment Highlights Include:
2,382 sqm Woolworths store paying percentage rental7 fully leased specialty retailersEstimated net income $826,666*58%* of the centre’s total income from Woolworths LimitedLocally dominant convenience based Centre Ideal non-discretionary retail backed investment
*Approximately
