238-244 Queen Street, Richmond, Tasman

Significant land holding in Richmond CBD

Very rarely are high profile commercial opportunities such as these three adjoining Queen Street properties offered to the market. The three adjoining titles are being sold collectively comprising a total land area of 1,534sqm positioned in the heart of the Richmond central business district. The three titles each include small buildings with Queen Street frontage and are currently configured as six individual tenancies partially occupied by retail and hospitality businesses. The five existing leases provide a holding income of $117,900pa. With one additional retail vacancy and surplus car parking, there is an opportunity for rental uplift.

All three buildings have been assessed for earthquake rating and they range from 33% to 40% of NBS. The owners have been supplied with a concept design for strengthening the buildings to achieve a minimum level of 67%, however, this work has not been costed.

This unique offering to the market provides flexibility for purchasers to maximise the use for this site with the benefit of holding income and excellent access from the rear of the sites for potential future re-development or re-configuration.

•Three adjoining titles for collective sale
•Five existing leases providing holding income of $117,900pa
•1,534sqm total site area with low site coverage & rear access
•Re-development opportunity
•Rental uplift potential
•Queen Street frontage adjoining Richmond Mall

The properties are being offered for collective sale by Auction and are being sold in their current "as is, where is" condition.