34 Chesterman Street is situated 7km from the Hobart CBD, the asset comprises a 1,190sqm high-quality industrial facility on a 3,106sqm dual-title landholding, complete with secure hardstand, modern improvements and excellent loading access. This property is one of the most secure, growth-aligned industrial investments to be offered in greater Hobart this year.
This global brand operates in a variety of high demand sectors, including mining, energy, infrastructure, defence and advanced manufacturing. They have committed to a new seven-year lease with annual rental increases of the greater of 3 per cent or CPI, offering investors strong, predictable income growth. The property generates a net rental of $235,000 + GST, with the tenant responsible for all outgoings including Land Tax, Council rates, Taswate, building insurance and fire protection.
Partner at RWC Tasmania Claude Alcorso said industrial investment opportunities of this quality are increasingly scarce in Hobart’s tightly held northern industrial corridor.
“Assets with international tenants, new long-term leases and built-in growth are exceptionally rare in Tasmania. This highly regarded global operator, and their renewed commitment to the site reflects both the strength of this facility and the long-term importance of the Moonah precinct,” Mr Alcorso said.
Trevor Fox, also partner at RWC Tasmania, emphasised the strength of the industrial sector and the ongoing investor demand for high-quality leased assets.
“Industrial remains one of the strongest performing commercial sectors nationwide, and Hobart is no different. Vacancy rates are at record lows, development pipelines are constrained, and demand continues to outstrip supply. Investments like this which are secure, modern and strategically located are tightly contested,” Mr Fox said.
The property is for sale via Private Treaty offers in excess of $4,000,000.
